Press release
ICON Reports Second Quarter 2020 Results
Highlights Robust net business wins in the quarter of $910 million; a book to bill of 1.47. Record closing backlog of $9.1 billion, an increase of 11% year
About this update from Icon Plc
[{"type":"text","content":"\nHighlights\n\n\n\nRobust net business wins in the quarter of $910 million; a book to bill of 1.47.\n\n\n\n\nRecord closing backlog of $9.1 billion, an increase of 11% year on year.\n\n\n\n\nQuarter 2 reported revenue of $620.2 million representing a year on year decrease of 10.8% or 10.3% on a constant currency basis.\n\n\n\n\nAdjusted earnings per share* attributable to the Group for the quarter of $1.20, compared to $1.69 in Quarter 2 2019. Year to date earnings per share* attributable to the group of $2.89, compared to $3.31 for the equivalent prior year period.\n\n\n\n\nStrong balance sheet and liquidity position remains, exceptional cash generation delivers net cash position of $244 million.\n\n\n\n\nFull year 2020 revenue guidance in the range of $2,650 - $2,750 million. Full Year 2020 earnings per share guidance in the range of $6.00 - $6.50.\n\n\n\n*before non-recurring charges.\n\n DUBLIN--(BUSINESS WIRE)--\nICON plc (NASDAQ: ICLR), a global provider of outsourced drug and device development and commercialisation services to pharmaceutical, biotechnology, medical device and government and public health organisations, today reported its financial results for the second quarter ended June 30, 2020.\n\n\nCEO Dr. Steve Cutler commented, “During the quarter we generated robust net business bookings of $910 million and we consequently grew our backlog by 11% to a record $9.1 billion. With new business opportunities continuing to be robust and our strong balance sheet enhanced by solid cash collection during the quarter, we remain well placed to face the challenges of COVID-19 and take advantage of opportunities into the future. I am incredibly proud of our entire workforce and would like to thank them for their tireless efforts and on-going resilience during this difficult period.\n\n\nHowever, as expected, the impact from COVID-19 materially challenged our second quarter results with revenue decreasing 10.8% year over year to $620 million and EPS by 28.9% to $1.20. Although uncertainty remains, we are seeing improvements to site re-openings and patient recruitment and we expect results to improve sequentially during the second half of this year. We are therefore issuing full year 2020 revenue guidance of $2,650 - $2,750 million and earnings guidance of $6.00 - $6.50.”\n\n\nSecond Quarter 2020 Results\n\n\nGross business wi...