PRA Health Sciences (PRAH) Tops Q1 EPS by 1c, Beats on Revenue; Offers FY18 EPS/Revenue Mid-Point Guidance Below Consensus

PRA Health Sciences (NASDAQ: PRAH) reported Q1 EPS of $0.85, $0.01 better than the analyst estimate of $0.84. Revenue for the quarter came in at $701.8 million versus the consensus estimate of $694.84 million.

• Net new business of $650.3 million; Net book-to-bill of 1.29
• $701.8 million of revenue in the first quarter; 43.9% growth at actual foreign exchange rates and 40.7% growth on a constant currency basis compared to the first quarter of 2017
• $559.9 million of revenue in the first quarter excluding the impact of ASC 606; 31.1% actual growth and 17.8% organic growth at actual foreign exchange rates; 28.5% growth and 15.2% organic growth on a constant currency basis compared to the first quarter of 2017
• First quarter GAAP net income per diluted share of $0.59 and GAAP net income of $39.0 million
• First quarter adjusted net income per diluted share was $0.85 per share and adjusted net income was $56.2 million
• Reaffirming full year 2018 revenue guidance between $2.84 billion and $2.95 billion, GAAP net income per diluted share between $2.80 and $2.95, and Adjusted Net Income per diluted share between $4.00 and $4.15

GUIDANCE:

PRA Health Sciences sees FY2018 EPS of $4.00-$4.15, versus the consensus of $4.12. PRA Health Sciences sees FY2018 revenue of $2.84-2.95 million, versus the consensus of $2.91 million.

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

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