INC Research Holdings (INCR) Misses Q3 EPS by 8c, Miss on Revenues; Q4 EPS/Revenue Outlook Below Consensus Projections

INC Research Holdings (NASDAQ: INCR) reported Q3 EPS of $0.54, $0.08 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $592.2 million versus the consensus estimate of $604.96 million.

Highlights

• Net service revenue of $592.2 million and $1,102.4 million for the three and nine months ended September 30, 2017, respectively.
• Combined Company adjusted net service revenue of $766.6 million and $2,331.6 million for the three and nine months ended September 30, 2017, respectively, after adjusting for $13.2 million and $27.0 million, respectively, eliminated as part of purchase accounting.
• Combined Company adjusted EBITDA of $138.9 million and $424.5 million for the three and nine months ended September 30, 2017, respectively.
• GAAP diluted loss per share of $1.70 and $1.90 for the three and nine months ended September 30, 2017, respectively.
• Combined Company adjusted diluted EPS of $0.54 and $1.56 for the three and nine months ended September 30, 2017.

GUIDANCE:

INC Research Holdings sees Q4 2017 EPS of $0.52-$0.60, versus the consensus of $0.72. INC Research Holdings sees Q4 2017 revenue of $738-768 million, versus the consensus of $808.95 million.

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

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