Highlights

  • Third-quarter 2026 revenue was $4,428 million, up 8.0% year over year, with GAAP diluted earnings per share of $2.10.
  • R&D Solutions net new bookings were $3.2 billion, and contracted backlog was $32.6 billion after an adjustment of approximately $2.1 billion.
  • Net debt was $13,818 million at September 30, 2026, and the Net Leverage Ratio was 3.45x trailing twelve-month Adjusted EBITDA.
  • The company raised full-year 2026 guidance to revenue of $17,350 million to $17,500 million and Adjusted Diluted EPS of $12.90 to $13.00.

IQVIA Holdings Inc. (NYSE: IQV) shares were trading at USD 270.99 on October 27, 2026, down 0.95%, with a relative volume at time of 3.14. The healthcare data and clinical research company reported third-quarter 2026 results on October 27, 2026, raised its full-year 2026 guidance, and announced an Investor Day for December 1, 2026.

IQVIA is incorporated in Delaware and lists its principal executive offices in Durham, North Carolina. It provides clinical research services, commercial insights and healthcare intelligence to life sciences and healthcare clients. Since January 1, 2026, it has reported two segments: Commercial Solutions and Research & Development Solutions, known as R&DS. The company says it has approximately 95,000 employees in over 100 countries. Its figures in the earnings release are preliminary and unaudited.

Third-Quarter 2026 Results

Revenue was $4,428 million, up 8.0% on a reported basis and 8.6% at constant currency, against $4,100 million in the third quarter of 2025. Commercial Solutions revenue was $1,789 million, up 6.9%. R&DS revenue was $2,639 million, up 8.7%, or up 6.8% excluding reimbursed expenses.

Income from operations was $572 million, against $553 million. Restructuring costs were $36 million, against $20 million, and interest expense was $203 million, against $189 million. GAAP net income attributable to IQVIA was $350 million, against $331 million, and GAAP diluted earnings per share were $2.10, against $1.93.

On a non-GAAP basis, Adjusted EBITDA was $1,032 million, up 8.7%. Adjusted Net Income was $557 million and Adjusted Diluted EPS was $3.34, up 11.3%. For the first nine months of 2026, revenue was $12,947 million, GAAP net income was $880 million, and GAAP diluted EPS was $5.24. Nine-month Adjusted EBITDA was $2,958 million, up 7.9%, and Adjusted Net Income was $1,576 million.

Bookings and Backlog

Third-quarter R&DS net new bookings were $3.2 billion, up 15%, a book-to-bill ratio of 1.2x. Last-twelve-month net new bookings were $11.7 billion, up 14%. The company reviewed inactive trials in its backlog estimates, which resulted in a backlog adjustment of approximately $2.1 billion. It said the adjustment has no impact on historical financial results, 2026 guidance, book-to-bill or next-twelve-month revenue from backlog estimates.

At September 30, 2026, R&DS contracted backlog was $32.6 billion. The company expects approximately $9.4 billion of that backlog to convert to revenue in the next twelve months.

Cash Flow and Financial Position

Operating cash flow for the third quarter was $825 million, and non-GAAP Free Cash Flow was $667 million, which the company stated as 120% of Adjusted Net Income. Cash and cash equivalents were $2,249 million at September 30, 2026, against $1,980 million at December 31, 2025. Debt was $16,067 million, resulting in net debt of $13,818 million.

Long-term debt, less current portion, was $14,823 million, and the current portion of long-term debt was $1,244 million. Total stockholders' equity was $6,791 million.

Full-Year 2026 Guidance and Investor Day

The company raised full-year 2026 guidance for revenue to between $17,350 million and $17,500 million, Adjusted EBITDA to between $4,025 million and $4,055 million, and Adjusted Diluted EPS to between $12.90 and $13.00. Revenue guidance anticipates 250 basis points of contribution from acquisitions, including acquisitions the company expects to complete by year end, and approximately 20 basis points of foreign exchange tailwind. Guidance assumes exchange rates as of October 26, 2026.

IQVIA will host an Investor Day on December 1, 2026. Management will provide a business update starting at 9:00 a.m. ET, and registration is required.