- Clinical research organization ICON ( NASDAQ: ICLR ) said its FY23 revenue is expected to be in the range of $7.94M to $8.34M, vs. a consensus of $8.17B.
- FY23 EPS is expected to be in the range of $12.40 – $13.05, vs. a consensus of $12.29.
- The full-year revenue guidance represents a growth of 3.3% to 6.8% on a yearly basis, while the EPS guidance represents a growth of 6.4% to 10.1% Y/Y.
- The guidance takes into account an effective tax rate of ~16.5%, ~$1.1B of free cash flow and capital expenditures of ~$200M, interest expense in the range of $280M – $300M, hedging solution finalized resulting in proportion of fixed debt amounting to ~60% of total debt and excludes any potential share repurchase or M&A activity in the above guidance.
- For FY22, the revenue guidance in the range of $7.69B to $7.81B, vs. a consensus of $7.75B, and EPS in the range of $11.65 - $11.85, vs. a consensus of $11.66, was reaffirmed.
- ICLR shares were down ~3% pre-market.
- Source: Press Release
For further details see:
ICON FY23 revenue to be in-line with consensus, EPS above consensus