Press release
ICON Reports Second Quarter 2023 Results
Highlights Net business wins in the quarter of $2,419 million; a net book to bill of 1.20 or 1.21 on a trailing twelve month basis. Closing backlog of $21.7
About this update from Icon Plc
[{"type":"text","content":"\nHighlights\n\n\n\nNet business wins in the quarter of $2,419 million; a net book to bill of 1.20 or 1.21 on a trailing twelve month basis.\n\n\n\n\nClosing backlog of $21.7 billion, an increase of 2.2% on quarter one 2023 or an increase of 8.5% on quarter two 2022.\n\n\n\n\nQuarter two revenue of $2,020.3 million representing an increase of 4.4% on prior year revenue and 4.3% on a constant currency organic basis. YTD revenue of $3,998.8 million representing a year on year increase of 4.2% and 4.7% on a constant currency basis.\n\n\n\n\nQuarter two adjusted EBITDA of $414.2 million or 20.5% of revenue, an increase of 16.9% on quarter two 2022. YTD adjusted EBITDA of $813.4 million or 20.3% of revenue, representing a year on year increase of 17.0%.\n\n\n\n\nGAAP net income attributable to the Group for the quarter of $115.6 million or $1.40 per diluted share. YTD GAAP net income of $232.3 million or $2.81 per diluted share, an increase of 1.8% on the prior year.\n\n\n\n\nQuarter two adjusted net income attributable to the Group was $256.9 million or $3.11 per diluted share, an increase of 8.7% on quarter two 2022 adjusted earnings per share. Year to date adjusted net income attributable to the Group of $496.7 million or $6.01 per diluted share, an increase of 6.9% year on year.\n\n\n\n\nDays sales outstanding reduced to 52 days from 54 days at March 31, 2023.\n\n\n\n\n$150 million repayment made on Term Loan B debt. Net debt balance of $4.0 billion with Net Debt to adjusted EBITDA ratio of 2.5x.\n\n\n\n\nQuarter two effective tax rate of 15.2%. Updated estimate for full year 2023 effective tax rate of 15.5%, a decrease from prior estimated effective tax rate of 16.5%.\n\n\n\n\nUpdated full-year 2023 financial guidance for revenue by narrowing the revenue range to $8,070 - $8,210 million, representing a year over year increase of 4.3 to 6.1%, and adjusted earnings per share* in the range of $12.63 - $12.91, representing a year over year increase of 7.5 to 9.9%. This is an increase of $.04 at the midpoint from our previous adjusted earnings per share guidance range. Adjusted earnings per share to exclude amortization, stock compensation, foreign exchange and transaction-related / integrated-related adjustments.\n\n\n\n DUBLIN--(BUSINESS WIRE)--\nICON plc (NASDAQ: ICLR), a world-leading healthcare intelligence and clinical research...