Recap: Icon Q3 Earnings

Shares of Icon ICLR moved lowere by 0.6% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 1.15% year over year to $1.72, which beat the estimate of $1.53.

Revenue of $701,729,000 decreased by 1.23% from the same period last year, which beat the estimate of $660,790,000.

Outlook

ICON Narrows, Raises Lower End Of FY20 Adj. EPS Guidance From $6-$6.50 To $6.35-$6.50 vs $6.27 Estimate

ICON Raises FY20 Sales Guidance From $2.65B-$2.75B To $2.75B-$2.81B vs $2.72B Estimate

Technicals

52-week high: $215.29

Company's 52-week low was at $104.28

Price action over last quarter: Up 12.13%

Company Description

Icon is a global late-stage contract research organization that provides drug development and clinical trial services to pharmaceutical, biotechnology, and medical device firms. While the vast majority of its revenue comes from clinical research, Icon also offers ancillary services such as laboratory and imaging capabilities. The company is headquartered in Ireland.