Fubotv earnings beat by $0.10, revenue topped estimates
DUBLIN - ICON plc (NASDAQ:ICLR) saw its shares climb 3.5% after the healthcare intelligence and clinical research organization reported fourth-quarter results that narrowly beat analyst expectations. ICON also announced that its Board of Directors authorized a new $750 million share repurchase program, bringing the total value of authorized buybacks to $1 billion.
The company posted adjusted earnings per share of $3.43, edging past the consensus estimate of $3.42. Revenue came in at $2.04 billion, slightly above the $2.03 billion analysts had forecast. However, revenue decreased 1.2% compared to the same quarter last year.
ICON’s net business wins for the quarter totaled $2.41 billion, resulting in a book-to-bill ratio of 1.18. The company’s closing backlog stood at $24.7 billion, up 8.3% YoY.
"ICON’s results in quarter four were in-line with our expectations as we continue to manage through a challenging transition period in our business," said CEO Dr. Steve Cutler. He noted that gross business wins increased 8% sequentially, "indicative of a positive, albeit volatile, underlying demand environment."
For the full year 2024, ICON reported revenue of $8.28 billion, a 2% increase YoY. Adjusted diluted EPS rose 9.5% to $14.00.
Looking ahead, the company reaffirmed its 2025 financial guidance, projecting revenue between $8.05 billion and $8.65 billion and adjusted diluted EPS in the range of $13.00 to $15.00.
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