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Icon plc (ICLR)
NASDAQ:ICLR
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3.42Last Year’s EPS
$3.46Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -26.09%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While ICON achieved significant strategic partnerships and growth in specific therapeutic areas, it faced challenges with revenue expectations, delays in the biotech segment, and substantial cancellations. Despite these setbacks, the company remains optimistic about future growth, supported by a strong backlog and strategic capital deployment.Company Guidance
During the ICON PLC Q3 2024 earnings call, the company revised its full-year revenue guidance due to several challenges faced during the quarter. CEO Dr. Steve Cutler highlighted that ICON's results were below expectations, primarily because of three main factors: continued cost pressures and development model transitions affecting revenue from two major customers, slower decision-making and capital allocation in the biotech sector leading to award delays, and a significant number of project delays and cancellations in the fast-borne vaccine area, which materially impacted revenue. Despite these setbacks, ICON reported a total backlog growth of 9.4% year-over-year and maintained a net book-to-bill ratio of 1.15x for the quarter, although gross business wins decreased by 7.3% year-over-year to $2,832 million. Adjusted EBITDA for the quarter was $418.8 million, representing 20.6% of revenue, with an adjusted net income margin of 13.8%. The company remains confident in its medium- to long-term growth prospects, targeting a book-to-bill ratio of 1.2x to 1.3x on a trailing 12-month basis going forward, while acknowledging a challenging near-term environment.New Strategic Partnerships
ICON has secured three new strategic partnerships within the top 30 pharma in the past 12 months, indicating momentum in gaining market share.
Growth in Therapeutic Areas
A notable increase in therapeutic areas like cardio and metabolic diseases, with new award growth increasing over 50% on a trailing 12-month basis.
Record Backlog Growth
Total backlog grew to a record $24.3 billion, representing an increase of 9.4% year-over-year.
Cash Flow Improvement
Free cash flow was $359.4 million in the quarter, an increase of 15% on a year-over-year basis.
Strategic Capital Deployment
ICON repurchased $100 million worth of stock and secured authorization for a further $250 million, showing commitment to shareholder returns.
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ICLR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ICLR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $280.76 | $221.73 | -21.03% |
| Jul 24, 2024 | $331.77 | $313.10 | -5.63% |
| Apr 24, 2024 | $309.44 | $300.08 | -3.02% |
| Feb 21, 2024 | $284.70 | $313.37 | +10.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Icon plc (ICLR) report earnings?
Icon plc (ICLR) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Icon plc (ICLR) earnings time?
Icon plc (ICLR) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ICLR EPS forecast?
ICLR EPS forecast for the fiscal quarter 2024 (Q4) is $3.42.
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