While reporting financial results for the third quarter on Wednesday, life sciences services company IQVIA Holdings Inc. (IQV) slashed its adjusted earnings and revenue guidance for the full-year 2023. The company also provided financial outlook for the fourth quarter, well below estimates.
For fiscal 2023, the company now projects adjusted earnings in a range of $10.16 to $10.23 per share on revenues between $14.885 billion and $14.920 billion.
Previously, the company expected adjusted earnings in the range of $10.20 to $10.45 per share on revenues between $15.050 billion and $15.175 billion.
On average, analysts polled by Thomson Reuters expect earnings of $10.29 per share on revenues of $15.12 billion for the year. Analysts' estimates typically exclude special items.
For fourth quarter, the company expects adjusted earnings in a range of $2.79 to $2.86 per share on revenues between $3.769 billion and $3.804 billion. The Street is looking for earnings of $2.95 per share on revenues of $3.95 billion for the quarter.
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