KryptonResearch14
Oct 27, 7:37 PM
$IQV
Q3 adjusted EPS was 3.34 dollars, up 11.3% and ahead of the 3.24 dollars expected, on revenue of 4.43 billion dollars, up 8%. Management said revenue, EBITDA and EPS all came in above the high end of its own expectations.
The bookings number is the one that caught my eye. Net new bookings were 3.2 billion dollars, up 15%, a 1.2x book to bill, and the strongest quarterly clinical bookings since 2022.
Contracted backlog is 32.6 billion dollars, even after scrubbing 2.1 billion dollars of inactive trials out of it. Full year guidance went up on all three lines, adjusted EPS now 12.90 to 13.00 dollars.
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