ICON Issues Financial Guidance for Full Year 2022
12 Janeiro 2022 - 9:00AM
Business Wire
Highlights
- Full Year 2022 Revenue guidance in the range of $7,770 - $8,050
million, representing growth of 43 – 46% over Full Year 2021
Revenue guidance.
- Full Year 2022 adjusted earnings per share guidance in the
range of $11.55 - $11.95, representing growth of 21 – 23% over Full
Year 2021 adjusted earnings per share guidance.
- Reaffirming 2021 guidance of revenue in the range of $5,430 -
$5,530 million and adjusted earnings per share in the range of
$9.55 - $9.75.
ICON plc, (NASDAQ: ICLR), a world-leading clinical
research organisation powered by healthcare intelligence, today
announced its financial guidance for the year ended December 31,
2022. For the full year 2022, revenue is expected to be in the
range of $7,770 - $8,050 million, representing growth of 43 – 46%
and adjusted earnings per share is expected to be in the range of
$11.55 - $11.95, representing growth of 21 – 23%, over Full Year
2021 revenue and adjusted earnings per share guidance,
respectively. Adjusted earnings per share to exclude amortization,
stock compensation, foreign exchange and transaction-related /
integration-related adjustments.
CEO Steve Cutler commented, “As the world’s largest and most
comprehensive CRO, ICON is well positioned to lead the market as
the healthcare intelligence partner of choice in clinical
development. We saw strong demand from customers that resulted in a
trailing twelve month book to bill of 1.3x and total backlog of
$18.6 billion at the end of the third quarter 2021. With our solid
performance in 2021 coupled with continued strength in the broader
industry environment, we expect growth of 43 – 46% in revenue to a
range of $7,770 - $8,050 million and adjusted earnings per share to
increase by 21 – 23% to a range of $11.55 - $11.95 for the full
year 2022.”
The full year 2022 financial guidance assumes:
- US dollar to Euro exchange rate of $1.15.
- An effective tax rate of circa 16.5%.
- Days Sales Outstanding of circa 25 - 30 days.
- Circa $1bn free cash flow and capital expenditures of circa
$150 million.
- No share repurchase or M&A activity included in the above
guidance.
With respect to 2021, the company reaffirmed its current
guidance of revenue in the range of $5,430 - $5,530 million and
adjusted earnings per share in the range of $9.55 - $9.75.
About ICON plc
ICON plc is a world-leading clinical research organisation
powered by healthcare intelligence. From molecule to medicine, we
advance clinical research providing outsourced services to
pharmaceutical, biotechnology, medical device and government and
public health organisations. We develop new innovations, drive
emerging therapies forward and improve patient lives. With
headquarters in Dublin, Ireland, ICON employed approximately 37,960
employees in 159 locations in 53 countries as at September 30,
2021. For further information about ICON, visit:
www.iconplc.com.
This press release contains forward-looking statements. These
statements are based on management's current expectations and
information currently available, including current economic and
industry conditions. These statements are not guarantees of future
performance or actual results, and actual results, developments and
business decisions may differ from those stated in this press
release. The forward-looking statements are subject to future
events, risks, uncertainties and other factors that could cause
actual results to differ materially from those projected in the
statements, including, but not limited to, the ability to enter
into new contracts, maintain client relationships, manage the
opening of new offices and offering of new services, the
integration of new business mergers and acquisitions, the impact of
COVID-19 on our business, as well as other economic and global
market conditions and other risks and uncertainties detailed from
time to time in SEC reports filed by ICON, all of which are
difficult to predict and some of which are beyond our control. For
these reasons, you should not place undue reliance on these
forward-looking statements when making investment decisions. The
word "expected" and variations of such words and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements are only as of the date they are made
and we do not undertake any obligation to update publicly any
forward-looking statement, either as a result of new information,
future events or otherwise. More information about the risks and
uncertainties relating to these forward-looking statements may be
found in SEC reports filed by ICON, including its Form 20-F, F-1,
F-4, S-8, F-3 and certain other reports, which are available on the
SEC's website at http://www.sec.gov.
Source: ICON plc
ICON/ICLR-F
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version on businesswire.com: https://www.businesswire.com/news/home/20220112005497/en/
Investor Relations 1 888 381 7923 Brendan Brennan Chief
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Investor Relations +1 888 381 7923
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