ICON's Q3 adj EPS and adj EBITDA beat analyst expectations

By Reuters News


Overview

  • Clinical research group's Q3 revenue slightly beat analyst expectations

  • Q3 adjusted EPS and adjusted EBITDA both beat analyst expectations

  • Company repurchased $400 mln in stock and raised buyback authorization to $750 mln


Outlook

  • ICON expects 2026 revenue between $8.1 bln and $8.2 bln

  • Company sees 2026 adjusted diluted EPS in the range of $10.35 to $10.65

  • Company says updated 2026 guidance reflects sustained operational progress and higher pass-through activity


Result Drivers

  • COMMERCIAL BOOKINGS - Co said strong commercial performance and exceptional bookings drove results, with net business wins of $3,150 mln and book-to-bill of 1.56x

  • BUSINESS MIX & COST DISCIPLINE - Improved business mix and strong cost discipline contributed to sequential adjusted EBITDA growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

$2.02 bln

$2.01 bln (15 Analysts)

Q3 Adjusted EPS

Beat

$2.66

$2.60 (15 Analysts)

Q3 Net Income

$122.13 mln

Q3 Adjusted EBITDA

Beat

$336.90 mln

$332.62 mln (14 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for ICON PLC is $187.00, about 1.8% above its October 26 closing price of $183.78

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Oct 27 - Healthcare data firm IQVIA Q3 revenue beats on strong bookings

  • Oct 27 - Ireland's Johnson Controls Q4 sales rise 10%, slightly beat estimates

  • Oct 26 - Aspen Neuroscience, Bambusa Therapeutics launch US IPOs as biotech boom rolls on


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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