01—Abstract
Summary
Summary of the 10-Q filed May 5, 2026. Cited figures are marked; the original filing is the authoritative source.
IQVIA Holdings Inc. reported first-quarter 2026 revenues of $4.151 billiona, up from $3.829 billion in the first quarter of 2025, an increase of $322 million or 8.4%.
Income from operations rose to $514 millionb from $496 million, and net income attributable to IQVIA Holdings Inc. was $274 million, compared with $249 million a year earlier. Diluted earnings per share were $1.61, versus $1.40. Growth was led by Commercial Solutions, whose revenues rose 11.6% to $1.754 billion, while Research & Development Solutions revenues rose 6.2% to $2.397 billion.
Constant currency revenue growth was approximately 6.0% for the company as a whole. Restructuring costs increased to $51 millionc from $29 million, and the filing states that restructuring actions are expected to continue through 2026 and into 2027. Cash flow and capital allocation were active during the quarter.
Net cash provided by operating activities was $618 milliond, up from $568 million. The company repurchased 3.2 million shares for $552 million under its Repurchase Program, leaving $1.217 billion of remaining authorization as of March 31, 2026. Total debt principal was $15.908 billion, and the company repaid its €550 million 1.750% notes due 2026 using a $650 million Term Loan due 2027.
Cash and cash equivalents were $1.947 billion at quarter-end, against $1.980 billion at December 31, 2025. Total stockholders' equity was $6.349 billion. Backlog for Research & Development Solutions was $34.2 billion, and the company expects approximately $8.9 billion of it to convert to revenue over the next twelve months.
The filing reports no material changes to risk factors, critical accounting policies, or market risk disclosures compared with the 2025 Form 10-K. The company also reorganized its reportable segments effective January 1, 2026 into Commercial Solutions and Research & Development Solutions. Management concluded that disclosure controls were effective, and it expects its available cash, operating cash flows and revolving credit access to fund operations for at least the next 12 months.
02—Key points
Key Highlights
- Revenues rose 8.4% to $4.151 billion in Q1 2026 from $3.829 billion, with constant currency growth of approximately 6.0%.
- Net income attributable to IQVIA Holdings Inc. was $274 million, up from $249 million, and diluted EPS was $1.61 versus $1.40.
- Commercial Solutions revenue grew 11.6% to $1.754 billion, and Research & Development Solutions revenue grew 6.2% to $2.397 billion.
- Operating cash flow was $618 million, up from $568 million, and the company repurchased $552 million of common stock.
- Research & Development Solutions backlog was $34.2 billion, with approximately $8.9 billion expected to convert to revenue within twelve months.
- Total debt principal was $15.908 billion; the company refinanced the €550 million 1.750% notes due 2026 with a $650 million Term Loan due 2027.
- Restructuring costs increased to $51 million from $29 million, with further actions expected through 2026 and into 2027.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed May 5, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $4.15B$3.83B | +8.4% |
| SG&A Expenses | $502.00M$508.00M | −1.2% |
| Operating Income | $514.00M$496.00M | +3.6% |
| Interest Expense | $192.00M$165.00M | +16.4% |
| Net Income | $275.00M$249.00M | +10.4% |
| EPS (Basic) | $1.63$1.42 | +14.8% |
| EPS (Diluted) | $1.61$1.40 | +15.0% |
| Shares Outstanding (Basic) | 168.40M175.70M | −4.2% |
| Shares Outstanding (Diluted) | 169.80M177.40M | −4.3% |
05—Questions
Frequently Asked Questions
How did IQVIA perform in the first quarter of 2026?
Revenues were $4.151 billion, up $322 million or 8.4% from $3.829 billion. Income from operations was $514 million, compared with $496 million, and diluted EPS was $1.61, compared with $1.40.
Which segment drove growth?
Commercial Solutions revenue increased $182 million, or 11.6%, to $1.754 billion, primarily from patient solutions. Research & Development Solutions revenue increased $140 million, or 6.2%, to $2.397 billion, driven by volume increases in clinical services and lab testing.
How much did IQVIA return to shareholders and how much capacity remains?
The company repurchased 3.2 million shares for $552 million in the quarter. As of March 31, 2026, it had $1.217 billion of remaining authorization under the Repurchase Program, which has a total authorization of $13.725 billion.
What is the company's debt position?
Total indebtedness was $15.908 billion as of March 31, 2026, excluding $995 million of additional available borrowings under the revolving credit facility. The company repaid its €550 million 1.750% notes due 2026 in March 2026 using a $650 million Term Loan due 2027.
What restructuring activity is ongoing?
Restructuring costs were $51 million in the first quarter of 2026, compared with $29 million a year earlier. The company states that restructuring actions, including consolidating functional activities and eliminating redundant positions, are expected to continue throughout 2026 and into 2027.
06—Continue