Iqvia updates FY23 revenue view to $14.885B-$14.92B, consensus $15.12B

The company has updated its full-year guidance to reflect slower growth in our TAS segment and the impact of the strengthening US dollar. The updated revenue guidance range of $14,885M to $14,920M represents growth of 3.3 to 3.5% on a reported basis and 3.7 to 3.9% at constant currency. Excluding approximately $600M of COVID-related revenue step down versus 2022, the guidance represents growth at constant currency of approximately 9 percent, including about 140 basis points of contribution from acquisitions. Reflecting the adjustment to revenue guidance, the company is also updating its Adjusted EBITDA guidance range to $3,560 million to $3,570 million, representing growth of 6.4 to 6.7 percent, and its Adjusted Diluted Earnings per Share guidance range to $10.16 to $10.23, flat to up 0.7 percent on a reported basis. This Adjusted Diluted Earnings per Share guidance includes the year-over-year impact of the step-up in interest rates and the increase in the UK corporate tax rate. Excluding these items, Adjusted Diluted Earnings per Share is expected to grow 11 to 12 %.