01—Abstract
Summary
Summary of the 10-Q filed July 28, 2026. Cited figures are marked; the original filing is the authoritative source.
IQVIA Holdings Inc. reported second-quarter 2026 revenues of $4,368 milliona, up from $4,017 million a year earlier, with an 8.7% increase.
Constant currency revenue growth was approximately $343 millionb, or 8.5%. Income from operations was flat at $506 million, as higher cost of revenues, SG&A and restructuring costs offset revenue growth. Net income attributable to IQVIA Holdings Inc. was $256 million, or $1.53 per diluted share, compared with $266 million, or $1.54 per diluted share, in the prior-year quarter.
For the first six months of 2026, revenues were $8,519 millionc, up 8.6%, and net income attributable to the company was $530 million, or $3.14 per diluted share. The company generated $1,176 million of operating cash flow in the first six months of 2026, compared with $1,011 million a year earlier. It repurchased $950 million of common stock during the period and, on May 7, 2026, increased its repurchase authorization by $2,000 million to a total of $15,725 million, with $2,819 million remaining as of June 30, 2026.
Total indebtedness was $16,081 milliond at June 30, 2026, against cash of $1,909 million. In June 2026 the company issued €950 million of 4.625% senior notes due 2033 and used the proceeds to repay its $650 million Term Loan due 2027 and part of its revolving credit facility. Restructuring costs rose to $63 million in the second quarter from $32 million, and $114 million for the six months from $61 million.
Segment profit grew in both segments, with Commercial Solutions profit up 10.6% and Research & Development Solutions profit up 11.2% for the quarter. The backlog of Research & Development Solutions was $34.2 billion at June 30, 2026, with approximately $9.2 billion expected to convert to revenue over the next twelve months.
02—Key points
Key Highlights
- Second-quarter 2026 revenues rose 8.7% to $4,368 million, with constant currency growth of approximately 8.5%.
- Income from operations was flat at $506 million; restructuring costs increased to $63 million from $32 million.
- Diluted EPS was $1.53 in Q2 2026 versus $1.54 a year earlier; six-month diluted EPS was $3.14 versus $2.94.
- Operating cash flow for the first six months of 2026 was $1,176 million, up from $1,011 million.
- The company repurchased $950 million of common stock in the first six months; remaining repurchase authorization is $2,819 million after a $2,000 million increase on May 7, 2026.
- Total indebtedness was $16,081 million at June 30, 2026, and the company issued €950 million of 4.625% senior notes due 2033 in June 2026 to refinance its $650 million Term Loan due 2027.
- Research & Development Solutions backlog was $34.2 billion, with approximately $9.2 billion expected to convert to revenue in the next twelve months.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2026filed July 28, 2026Financial Statements
Q2 FY2026 against Q2 FY2025
| Line item | Q2 FY2026Q2 FY2025 | Change |
|---|---|---|
| Revenue | $4.37B$4.02B | +8.7% |
| SG&A Expenses | $574.00M$509.00M | +12.8% |
| Operating Income | $506.00M$506.00M | 0.0% |
| Interest Expense | $197.00M$182.00M | +8.2% |
| Net Income | $258.00M$266.00M | −3.0% |
| EPS (Basic) | $1.54$1.55 | −0.6% |
| EPS (Diluted) | $1.53$1.54 | −0.6% |
| Shares Outstanding (Basic) | 166.10M171.80M | −3.3% |
| Shares Outstanding (Diluted) | 167.30M173.20M | −3.4% |
05—Questions
Frequently Asked Questions
How did IQVIA's revenue and profitability perform in the second quarter of 2026?
Revenues increased 8.7% to $4,368 million from $4,017 million. Income from operations was flat at $506 million, and net income attributable to IQVIA Holdings Inc. was $256 million, compared with $266 million in the prior-year quarter. Higher cost of revenues, SG&A and restructuring costs offset revenue growth.
What drove the change in segment performance?
Commercial Solutions revenues rose $142 million, or 8.6%, to $1,793 million, and segment profit rose 10.6% to $419 million. Research & Development Solutions revenues rose $209 million, or 8.8%, to $2,575 million, and segment profit rose 11.2% to $526 million. The filing attributes the Commercial Solutions growth mainly to the Americas, driven by patient solutions, and the Research & Development Solutions growth to volume-related increases in clinical services and lab testing.
How is IQVIA managing its debt and capital returns?
At June 30, 2026, total indebtedness was $16,081 million and cash and cash equivalents were $1,909 million. In June 2026 the company issued €950 million of 4.625% senior notes due 2033, and the proceeds repaid the $650 million Term Loan due 2027 and part of the revolving credit facility. The company repurchased $950 million of common stock in the first six months of 2026 and had $2,819 million of repurchase authorization remaining at June 30, 2026.
What is the status of restructuring and cash flow?
Restructuring costs were $63 million in the second quarter and $114 million for the first six months of 2026, compared with $32 million and $61 million a year earlier. The filing states that restructuring actions are expected to continue throughout 2026 and into 2027. Net cash provided by operating activities was $1,176 million for the six months, up from $1,011 million.
06—Continue