Icon Plc · NASDAQ:ICLR
Icon — Q1 2023 Earnings Presentation
17 slides from Icon's earnings presentation, Apr 27, 2023
Slide 1: ICON Q1 2023 Results
ICON Q1 2023 Results Period Ended March 31st, 2023 Dr. Steve Cutler, CEO Brendan Brennan, CFO Kate Haven, VP Investor Relations
Slide 2: Forward Looking Statement
Forward Looking Statement Statements included in this presentation which are not historical facts are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Forward-lookin
Slide 3: The world's leading CRO, powered by healthcare intelligence
The world’s leading CRO, powered by healthcare intelligence New ICONwell-balanced, ICON’s has the scale, technology diversifiedand data analytics portfolio offeringtopositions becomeus thewell healthcare for furtherintelligence market traction partner of choice through differentiated solutions and p
Slide 4: Backlog Metrics
Backlog Metrics +8.4% Growth 20.7 21.2 19.6 20.0 20.2 10.0% 9.9% 9.7% 9.7% 9.6% $bn Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Closing Backlog Burn rate 3
Slide 5: Revenue
Revenue +4.0% Reported Growth +5.3% Constant Currency Organic Growth 1,935 1,942 1,962 1,979 1,902 $m Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 4
Slide 6: Customer Profile
Customer Profile 2022 Revenue by Customer Segment Client Concentration Other: Device, etc. c3% Percentage of Total Revenue Small Q1 2023 8.8% 20.0% 13.7% 21.0% Biopharma c33% Q4 2022 9.2% 20.2% 15.2% 23.2% FY2022 Revenue Q1 2022 8.9% 19.7% 15.1% 19.0% Large Midsize Biopharma Biopharma c52% c12% Larg
Slide 7: Adjusted EBITDA Margin
Adjusted EBITDA Margin 1,935 1,942 1,962 1,979 1,902 20.6% 20.2% 19.5% 17.9% 18.3% $m Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Revenue EBITDA Margin % Notes: All values exclude amortization, stock compensation, restructuring, FX and transaction-related / integration-related costs Adjusted EBITDA Marg
Slide 8: Adjusted Earnings per Share attributable to the Group
Adjusted Earnings per Share attributable to the Group +5.1% year over year growth 313 300 290 276 286 ¢ Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Notes: All values exclude amortization, stock compensation, restructuring, FX and transaction-related / integration-related costs Adjusted earnings per shar
Slide 9: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Q1 2023 Q4 2022 Q1 2022 $m (unless otherwise stated) 31-Mar-23 31-Dec-22 31-Mar-22 Cash and Cash Equivalents + Available for Sale Investments 281.5 290.5 560.8 Total Debt (4,488.7) (4,654.2) (5,142.1) Net (Debt) / Cash (4,207.2) (4,363.7) (4,581.3) Net Debt / TTM Adj EBIT
Slide 10: 2023 Financial Guidance & Outlook
2023 Financial Guidance & Outlook % increase FY2022 FY2023 Guidance (FY2023 Guidance vs. FY2022 Actuals) Revenue $7,741.4m $7,940m - $8,340m 2.6% - 7.7% Adjusted EPS* $11.75 $12.40 - $13.05 5.5% - 11.1% Key Assumptions for FY2023 Guidance – Effective tax rate of 16.5% – Free Cash Flow target of c.$1
Slide 11: ICON Cares: Our commitment to ESG
ICON Cares: Our commitment to ESG Improved EcoVadis score by 40% from 2020 – 2022 ICON Cares incorporates the three ESG pillars, Environment, Social and Governance (ESG), Diversity, Inclusion and Belonging (DIB), Key Targets and our Corporate Social • Net Zero Scope 1 & 2 emissions by 2030 Responsib
Slide 12: Appendices
Appendices
Slide 13: Reconciliation of Non-GAAP Measures (EBITDA)
Reconciliation of Non-GAAP Measures (EBITDA) 2022 2023 $m except share and per share data Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023 Adjusted EBITDA Net income/(loss) attributable to the Group 112.0 115.7 160.2 117.4 505.3 116.7 Share of equity method investments 0.8 0.9 1.0 0.5 3.1 0.4 Provisi
Slide 14: Reconciliation of Non-GAAP Measures (Net Income & EPS)
Reconciliation of Non-GAAP Measures (Net Income & EPS) 2022 2023 $m except share and per share data Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023 Adjusted net income attributable to the Group and adjusted diluted net income per Ordinary Share attributable to the Group Net income attributable to th
Slide 15: Q1 2023 Adjusted Net Income Reconciliation
Q1 2023 Adjusted Net Income Reconciliation Q1 2022 Q1 2023 $m except share and per share data GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Revenue 1,901.8 - 1,901.8 1,978.6 - 1,978.6 Costs and expenses: Direct costs (excluding depreciation and amotization) (a) 1,378.5 (5.2) 1,373.3 1,395.5 (5
Slide 16: Reconciliation of Non-GAAP Measures Notes
Reconciliation of Non-GAAP Measures Notes a) Stock-based compensation expense represents the amount of recurring non-cash expense related to the Company’s equity compensation programs (inclusive of employer related taxes). b) Foreign currency losses (gains), net relates to gains or losses that arise
Slide 17: iconplc.com
iconplc.com © 2023 ICON. All rights reserved. 16