INC Research Holdings (INCR) Tops Q3 EPS by 1c, Bumps FY16 EPS Outlook

INC Research Holdings (NASDAQ: INCR) reported Q3 adj EPS of $0.64, $0.01 better than the analyst estimate of $0.63. Revenue for the quarter came in at $259.56 million versus the consensus estimate of $259.89 million.

GUIDANCE:

INC Research Holdings sees FY2016 adj EPS of $2.48-$2.52, versus prior guidance of $2.39-$2.50 and the consensus of $2.48.

“INC Research continues to deliver on our business strategy, achieving strong revenue growth and net new business awards for the third quarter,” commented Chief Executive Officer Alistair Macdonald. “Our ability to build strategic relationships with biopharmaceutical customers in critical drug development regions across the globe is increasingly being recognized as a key differentiator, with INC recently being awarded the 2016 Asia Pacific Contract Research Outsourcing Services Customer Value Leadership Award from leading growth consulting firm Frost & Sullivan.” Mr. Macdonald concluded, “I am pleased to have the opportunity to serve as CEO of an organization with such a strong leadership team and employees who have a relentless passion for drug development and improving patient lives. I look forward to leading INC Research on our journey to becoming ‘CRO of Choice’ and to driving value for employees, customers, sites and investors across the globe as we work to bring new therapies to market for patients.”

For earnings history and earnings-related data on INC Research Holdings (INCR) click here.

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