The raised guidance and record bookings provide strong forward visibility — traders should watch for continued organic revenue acceleration and margin expansion in H2. The 1.22x book-to-bill and $9.2B backlog converting in 12 months support the raised outlook; any pullback on macro concerns would be a buying opportunity given the fundamental momentum.
Price Chart
Executive Summary
IQVIA reported Q2 2026 results that beat consensus on both revenue and adjusted EPS, with revenue of $4,368M (+8.7% YoY) vs $4.30B estimate and adjusted diluted EPS of $3.15 (+12.1% YoY) vs $3.03 estimate. The company raised full-year 2026 guidance for revenue, Adjusted EBITDA, and Adjusted Diluted EPS, citing stronger organic growth and record R&D Solutions net new bookings of $3.15B (1.22x book-to-bill). This marks a clear acceleration from Q1 and signals sustained momentum into 2027.
Key Financial Metrics
Key Facts
- Revenue of $4,368M, up 8.7% YoY, beating $4.30B consensus
- Adjusted diluted EPS of $3.15, up 12.1% YoY, beating $3.03 consensus (3.9% beat)
- R&D Solutions net new bookings of $3.15B, up 19% YoY, with a 1.22x book-to-bill ratio
- Full-year 2026 guidance raised: revenue to $17,275M-$17,475M, Adjusted EBITDA to $4,000M-$4,050M, Adjusted EPS to $12.80-$13.00
- Operating cash flow of $558M, up 26% YoY; Free cash flow of $360M, up 23.3% YoY
- Net leverage ratio improved to 3.59x from 3.62x in Q1
Financial Impact
Revenue beat consensus by ~1.6% ($4,368M vs $4.30B); adjusted EPS beat by 3.9% ($3.15 vs $3.03); full-year guidance raised across all three key metrics
Risk Factors
- Foreign exchange headwinds (80bps unfavorable change vs prior guidance)
- Restructuring costs of $63M in Q2 ($114M YTD) may signal ongoing cost pressures
- Net debt increased to $14.09B from $13.89B at year-end, though leverage ratio improved slightly
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-049923 |
| Document: iqv-20260728.htm | 0001628280-26-049923 |
| Document: 0001628280-26-049923-index-headers.html | 0001628280-26-049923 |
| Document: 0001628280-26-049923-index.html | 0001628280-26-049923 |
| Document: 0001628280-26-049923.txt | 0001628280-26-049923 |
| 8-K Data (Synthetic) | 0001628280-26-049923 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | Insider Cluster | $236.05 $263.84 | ▲ +11.77% | ▲ +12.37% | $257.29 (+9.00%) |
Jul 31, 2026 8w ago | Insider Cluster | $233.36 $260.37 | ▲ +11.57% | ▲ +10.33% | $257.29 (+10.25%) |
Jul 28, 2026 9w ago | 8-K | $242.94 $259.42 | ▲ +6.78% | ▲ +3.40% | $257.29 (+5.91%) |
Jun 11, 2026 16w ago | 8-K | $181.46 $207.85 | ▲ +14.54% | ▲ +12.76% | $257.29 (+41.79%) |
Jun 4, 2026 17w ago | 8-K | $183.45 $205.97 | ▲ +12.28% | ▲ +10.41% | $257.29 (+40.25%) |
Jun 3, 2026 17w ago | 8-K | $186.85 $207.04 | ▲ +10.81% | ▲ +12.43% | $257.29 (+37.70%) |
Mar 30, 2026 26w ago | Court Ruling | $166.16 $158.98 | ▼ −4.32% | ▼ −16.94% | $257.29 (+54.84%) |
Mar 17, 2026 28w ago | Court Ruling | $168.43 $178.10 | ▲ +5.74% | ▲ +1.40% | $257.29 (+52.76%) |
Feb 27, 2026 30w ago | DEFA14A | $174.24 $166.02 | ▼ −4.72% | ▲ +3.22% | $257.29 (+47.67%) |
US Market Status
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