ICON (ICLR) Issues Financial Guidance for Full Year 2025

ICON plc, (NASDAQ: ICLR), a world-leading clinical research organization powered by healthcare intelligence, today announced its financial guidance for the year ending December 31, 2025. For the full year 2025, revenue is expected to be in the range of $8,050 - $8,650 million, representing growth of approximately 1% at the midpoint and adjusted earnings per share* is expected to be in the range of $13.00 - $15.00, which is flat over the expected full year 2024 adjusted earnings per share guidance midpoint.

Full year 2025 financial guidance excludes any potential share repurchase or additional M&A activity.

CEO Dr. Steve Cutler commented, “ICON continues to navigate dynamic clinical development market conditions, as trial activity has been impacted by cautious spending from biopharma customers, in both the biotech and large pharma businesses. Our outlook for this year reflects an expected transition period which includes a headwind from our top two customers on a combined basis, coupled with an inconsistent recovery in biotech. This is being partially offset by growth in strategic partnerships that are expected to contribute to our results as we progress through the year.

We will continue to manage the business appropriately based on the environment through leveraging technology, automation and other cost management initiatives. While recent market trends present challenges to normalized growth in the near-term, ICON’s differentiated offering is delivering value for our customers around the world. Our superior outcomes are driving additional opportunities to further solidify our position as a strategic partner to an increasing number of well-positioned customers. We saw evidence of this in quarter four, as our trailing twelve month book to bill result was in-line with our expectation of 1.2 times.”

With respect to full year 2024, the company reaffirmed its current guidance of revenue in the range of $8,260 - $8,300 million and adjusted earnings per share* in the range of $13.90 - $14.10.

In quarter four 2024, the company repurchased a total of $400 million worth of stock at an average price of $217. For the full year 2024, the company repurchased a total of $500 million worth of stock, leaving $250 million remaining on the current authorization from the Board of Directors.

Other Information

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release contains certain non-GAAP financial measures, including adjusted EBITDA, adjusted net income and adjusted diluted earnings per share. Adjusted EBITDA, adjusted net income and adjusted diluted earnings per share exclude amortization, stock compensation, foreign exchange gains and losses, restructuring and transaction-related / integration-related adjustments. While non-GAAP financial measures are not superior to or a substitute for the comparable GAAP measures, ICON believes certain non-GAAP information is useful to investors for historical comparison purposes.

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