ICON plc (ICLR) Tops Q1 EPS by 2c, FY17 EPS Guide Raised $0.06, Rev Guide Reaffirmed

ICON plc (NASDAQ: ICLR) reported Q1 EPS of $1.29, $0.02 better than the analyst estimate of $1.27. Revenue for the quarter came in at $432 million versus the consensus estimate of $432.01 million.

GUIDANCE:

ICON plc sees FY2017 EPS of $5.06-$5.26, versus the consensus of $5.10. ICON plc sees FY2017 revenue of $1.7-1.75 billion, versus the consensus of $1.72 billion.

Highlights

• Record net business wins of $521 million; net book to bill of 1.21.
• Backlog of business grew 9.1% year on year to $4.31 billion.
• Net revenue increased 7.8% to $432 million compared to the same quarter last year.
• Top customer revenue concentration reduced from 29% of revenue in Q1 2016 to 24% in Q1 2017.
• Income from operations increased 12.7% to 19.8% of revenue compared to the same quarter last year.
• Earnings per share increased 15.2% to $1.29 year on year.
• Earnings guidance increased by $0.06 to reflect Q1 share repurchases to $5.06 - $5.26. Revenue guidance reconfirmed in the range of $1.70 - $1.75 billion.

For earnings history and earnings-related data on ICON plc (ICLR) click here.

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