Parexel (PRXL) Misses Q1 EPS by 10c; Guides Below, Announces $200M Stock Buyback Plan
- Unemployment Rate Drops to 4.6%
- Unusual 11 Mid-Day Movers 12/2: (ASNA) (HTBX) (REPH) Higher; (PLX) (MEMP) (DRYS) Lower
- Bond yields fall on U.S. jobs data, euro flat before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Parexel (NASDAQ: PRXL) reported Q1 EPS of $0.76, $0.10 worse than the analyst estimate of $0.86. Revenue for the quarter came in at $0 versus the consensus estimate of $524.79 million.
Board approved new $200 million share repurchase program.
Parexel sees FY2017 EPS of $3.71-$4.05, versus the consensus of $4.57.
“At the same time, we are encouraged by our continued strong gross new business awards in the quarter, which we believe speak to the strength of our competitive offering,” Mr. von Rickenbach continued. “Ongoing corporate development activities, such as the recent acquisition of ExecuPharm, are expected to contribute to revenue growth. PAREXEL is also committed to maximizing shareholder value through sustained margin improvement and effective capital deployment, including a new $200 million share repurchase program. As a result of these actions, we expect to deliver double-digit adjusted diluted EPS growth for the Fiscal Year at the midpoint of our guidance range."
For earnings history and earnings-related data on Parexel (PRXL) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
- Allergan (AGN) Updates on ASR Program; ~$8B of Shares Received, Retired in Nov.
- Christopher & Banks (CBK) Tops Q3 EPS by 4c; Q4 Revenue Outlook Light of Views
Create E-mail Alert Related CategoriesEarnings, Guidance, Hot Earnings, Hot Guidance, Management Comments, Stock Buybacks
Related EntitiesStock Buyback, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!