01—Abstract
Summary
Summary of the 8-K filed July 28, 2026. Cited figures are marked; the original filing is the authoritative source.
IQVIA Holdings Inc. furnished an 8-K under Item 2.02 on July 28, 2026, attaching a press release reporting results for the second quarter ended June 30, 2026.
Revenue was $4,368 milliona, up 8.7% year-over-year on a reported basis, with GAAP net income of $256 million, GAAP diluted EPS of $1.53, Adjusted EBITDA of $994 million (up 9.2%), and Adjusted Diluted EPS of $3.15 (up 12.1%). R&D Solutions net new bookings were $3.15 billion, up 19% year-over-year, with a 1.22x book-to-bill ratio. Results are presented under the company's new two-segment structure, Commercial Solutions and Research & Development Solutions, effective January 1, 2026.
Management raised full-year 2026 guidance for revenue to $17,275 million to $17,475 millionb, Adjusted EBITDA to $4,000 million to $4,050 million, and Adjusted Diluted EPS to $12.80 to $13.00. The filing attributes the revenue raise to approximately 100 basis points higher organic growth and about 50 basis points higher M&A contribution, partly offset by roughly 80 basis points of unfavorable foreign exchange versus prior guidance. Balance sheet metrics show cash of $1,909 million, debt of $15,999 million, net debt of $14,090 million, and a Net Leverage Ratio of 3.59x trailing twelve-month Adjusted EBITDA.
Second-quarter operating cash flow was $558 millionc and free cash flow was $360 million. The company repurchased $398 million of stock in the quarter, with $2,819 million of authorization remaining as of June 30, 2026.
02—Key points
Key Highlights
- Q2 2026 revenue of $4,368 million rose 8.7% reported and 8.5% at constant currency year-over-year.
- Adjusted Diluted EPS of $3.15 rose 12.1% year-over-year; GAAP diluted EPS was $1.53.
- R&D Solutions net new bookings reached $3.15 billion, up 19% year-over-year, with a 1.22x book-to-bill ratio and contracted backlog of $34.2 billion.
- Full-year 2026 guidance was raised for revenue ($17,275–$17,475 million), Adjusted EBITDA ($4,000–$4,050 million) and Adjusted Diluted EPS ($12.80–$13.00).
- Operating cash flow of $558 million (up 26.0%) and free cash flow of $360 million (up 23.3%) in the second quarter.
- Net Leverage Ratio of 3.59x trailing twelve-month Adjusted EBITDA, with net debt of $14,090 million as of June 30, 2026.
- Share repurchases totaled $398 million in Q2 and $950 million in the first half, with $2,819 million of authorization remaining.
03—Questions
Frequently Asked Questions
How did IQVIA perform in the second quarter of 2026?
Revenue was $4,368 million, up 8.7% reported. GAAP net income was $256 million and Adjusted EBITDA was $994 million, up 9.2% year-over-year. Adjusted Diluted EPS was $3.15, up 12.1%.
What changed in the full-year 2026 guidance?
Revenue guidance was raised to $17,275–$17,475 million, Adjusted EBITDA to $4,000–$4,050 million, and Adjusted Diluted EPS to $12.80–$13.00. The filing cites roughly 100 basis points of higher organic growth and about 50 basis points of higher M&A contribution, partly offset by about 80 basis points of unfavorable FX change.
How strong were R&D Solutions bookings?
Net new bookings were $3.15 billion, up 19% year-over-year, for a 1.22x book-to-bill ratio. Contracted backlog was $34.2 billion as of June 30, 2026, of which about $9.2 billion is expected to convert to revenue in the next twelve months.
How is the company's balance sheet and capital return?
As of June 30, 2026, cash was $1,909 million and debt was $15,999 million, for net debt of $14,090 million and a Net Leverage Ratio of 3.59x. The company repurchased $398 million of stock in the second quarter and had $2,819 million of authorization remaining.
What is the basis of the non-GAAP figures in this release?
The release presents Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS and Free Cash Flow as non-GAAP measures, with reconciliations to GAAP in the attached schedules. The company states that full-year guidance for these measures (other than revenue) is not reconciled to GAAP because certain items cannot be predicted with reasonable certainty.
04—Continue