PRA Health Sciences (PRAH) Tops Q3 EPS by 3c; Updates Outlook

PRA Health Sciences (NASDAQ: PRAH) reported Q3 EPS of $0.88, $0.03 better than the analyst estimate of $0.85. Revenue for the quarter came in at $598.5 million versus the consensus estimate of $484.26 million.

GUIDANCE:

PRA Health Sciences sees FY18 EPS of $3.28-$3.35 (cons is $3.20).

• Net new business of $598.5 million; Net book-to-bill of 1.26
• $494.6 million of service revenue; 23.7% actual growth and 18.9% organic growth at actual foreign exchange rates and 23.0% growth and 18.2% organic growth on a constant currency basis
• GAAP Net Income per diluted share was $0.73 and GAAP Net Income was $48.2 million
• Adjusted Net Income per diluted share was $0.88 per share and Adjusted Net Income was $57.9 million
• Updating full year 2017 service revenue guidance to between $1.914 billion and $1.926 billion, GAAP net income per diluted share to between $2.31 and $2.38, and Adjusted Net Income per diluted share to between $3.28 and $3.35

For earnings history and earnings-related data on PRA Health Sciences (PRAH) click here.

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