EarningsQ2 2026 Earnings Report
MX:IQV Q2 2026 EPS Results
Actual EPS$57.26
Consensus EPS$55.12
Beat/MissBeat by +$2.15
One Year Ago EPS$51.08
MX:IQV Q2 2026 Revenue Results
Actual Revenue$79.44B
Expected Revenue$78.20B
Beat/MissBeat by +$1.24B
YoY Revenue Growth+8.84%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:IQV Upcoming Earnings
IQVIA Holdings's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:IQV Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall: the company beat Q2 guidance across revenue, adjusted EBITDA and adjusted EPS, reported accelerating organic growth and robust bookings momentum (notably a 19.3% YoY increase in quarterly R&DS bookings and a 1.22 book-to-bill). Management raised full-year revenue, EBITDA and EPS guidance and highlighted meaningful AI-driven wins and operational productivity gains. Headwinds include a reduced FX tailwind, pass-through revenue pressure, added leverage and some lower-margin acquisition contribution; management expects these non-operational items to offset some margin gains for the year. On balance, the highlights (revenue and earnings beats, strong bookings/backlog, FCF growth, AI traction and raised guidance) significantly outweigh the lowlights.Company Guidance
Quarterly Revenue and EPS Beat
Q2 revenue of $4.368B exceeded the high end of guidance, up 8.7% year-over-year (8.5% at constant currency). Q2 adjusted diluted EPS was $3.15, up 12.1% year-over-year, driven by strong operational performance.
Adjusted EBITDA Growth
Second quarter adjusted EBITDA of $994M grew 9.2% year-over-year, outperforming the high end of guidance.
Accelerating Organic Growth
Company-wide organic growth accelerated to 6% year-over-year (three times the rate a year ago). R&D Solutions revenue grew nearly 9% (organic ~7%) and Commercial Solutions organic growth accelerated to 5%.
R&DS Bookings and Backlog Momentum
R&D Solutions net new bookings were $3.15B in the quarter (+19.3% YoY) resulting in a book-to-bill of 1.22. Last 12-month net new bookings were $11.25B (+12.9% YoY). Backlog was $34.2B with next-12-month revenue of $9.23B, up 7.5% versus prior year.
Free Cash Flow and Share Repurchases
Q2 free cash flow was $360M (+23% YoY). The company repurchased $398M of shares in the quarter ($950M YTD) and has approximately $2.8B remaining under the current repurchase authorization.
Raised Full-Year Guidance
Management raised FY2026 guidance: revenue now $17.275B–$17.475B (growth 5.9%–7.1%, midpoint 6.5% vs prior midpoint 5.8%), adjusted EBITDA $4.00B–$4.05B (growth 5.6%–6.9%), and adjusted diluted EPS $12.80–$13.00 (growth 7.4%–9.1%).
AI Traction and Competitive Differentiation
IQVIA reported 294 AI agents deployed across 90 use cases, with 4 of the top 10 pharma companies co-developing AI solutions and 19 of the top 20 deploying solutions. Management cited AI-enabled wins (e.g., large Phase III stroke study, oncology and autoimmune programs) and noted AI is contributing to both operational improvements and top-line growth.
Segment-Level Performance
Q2 Commercial Solutions revenue $1.793B (+8.6% reported, +8.4% CC) and R&D Solutions revenue $2.575B (+8.8% reported, +8.6% CC). First-half revenue grew 8.6% reported.
Operational Productivity Driving Margin Expansion
Operational productivity initiatives (including AI levers) delivered approximately 90 basis points of operational margin expansion in the quarter, contributing to a modest reported expansion (net +10 bps) despite non-operational headwinds.
MX:IQV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed