Press release
ICON Reports Third Quarter 2021 Results
Highlights Record net business wins in the quarter of $2,374 million; a net book to bill of 1.27. Closing backlog of $18.6 billion, an increase of 3% on our
About this update from Icon Plc
[{"type":"text","content":"\nHighlights\n\n\nRecord net business wins in the quarter of $2,374 million; a net book to bill of 1.27.\n\n\n\nClosing backlog of $18.6 billion, an increase of 3% on our Combined Company Backlog since the closing of the PRA acquisition on 1 July 2021, or an increase of 14% year over year on a Combined Company basis.\n\n\n\nQuarter 3 adjusted revenue of $1,870.4 million representing a year on year increase of 167%.\n\n\n\nAdjusted EBITDA of $324.9 million or 17.4% of adjusted revenue, a year on year increase of 143%.\n\n\n\nAdjusted net income attributable to the Group was $209.8 million or $2.55 per diluted share.\n\n\n\nGAAP revenue for Quarter 3 was $1,866.4 million. GAAP net loss attributable to the Group of $94.3 million.\n\n\n\nDays sales outstanding reduced to 26 days from 64 days at September 30, 2020 on a comparable basis.\n\n\n\nFull year 2021 revenue guidance issued in the range of $5,430 - $5,530 million, representing a year over year increase of 94% - 98%.\n\n\n\nFull year 2021 adjusted earnings per share guidance issued in the range of $9.55 - $9.75. Adjusted earnings per share to exclude amortization, stock compensation, foreign exchange and transaction-related / integration-related adjustments.\n\n\n \n\n DUBLIN--(BUSINESS WIRE)--\nICON plc (NASDAQ: ICLR), a world-leading healthcare intelligence and clinical research organisation, today reported its financial results for the third quarter ended September 30, 2021.\n\nCEO Dr. Steve Cutler commented, “I’m delighted with new ICON’s strong start as a combined organisation as shown by record new business wins of $2,374 million resulting in a net book to bill of 1.27 and backlog growth over the initial three month period since closing of 3% to $18.6 billion. The response to the acquisition by our customers has been excellent and we are already engaging in a number of more strategic discussions which we expect will drive further growth over the long term. With the strong performance in the third quarter, we are revising our full year 2021 guidance to revenue of $5,430 - $5,530 million, an increase of 96% at the midpoint of the range, and adjusted earnings per share of $9.55 - $9.75”.\n\nThird Quarter 2021 Results\n\nGross business wins in the third quarter were $2,720 million and cancellations were $346 million. This resulted in net business wins of $2,374 million and a...