NEW YORK, Feb. 12, 2025 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of ordinary shares of ICON plc (NASDAQ: ICLR) between July 27, 2023 and October 23, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 11, 2025.So what: If you purchased ICON ordinary shares during the Class Period you ma ...

Core Viewpoint - The market anticipates a year-over-year decline in earnings for Icon PLC due to lower revenues, with the actual results being crucial for stock price movement [1][2]. Earnings Expectations - Icon PLC is expected to report quarterly earnings of $3.41 per share, reflecting a -1.5% change year-over-year, with revenues projected at $2.04 billion, also down 1.5% from the previous year [3]. - The consensus EPS estimate has been revised down by 2.8% over the last 30 days, indicating a bearish sentiment among analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for Icon PLC is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.42% [10][11]. - A negative Earnings ESP reading, combined with a Zacks Rank of 4, complicates the prediction of an earnings beat for Icon PLC [11]. Historical Performance - In the last reported quarter, Icon PLC was expected to post earnings of $3.85 per share but only achieved $3.35, resulting in a surprise of -12.99% [12]. - Over the past four quarters, Icon PLC has beaten consensus EPS estimates three times [13]. Conclusion - Icon PLC does not appear to be a strong candidate for an earnings beat, and investors should consider other factors when making decisions regarding this stock ahead of its earnings release [16].

ATHENS, Greece, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Icon Energy Corp. (“Icon” or the “Company”) (Nasdaq: ICON), an international shipping company that provides worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, today announced the pricing of its public offering of 9,160,305 units at a public offering price of $1.31 per unit. Each unit consists of one common share (or pre-funded warrant to purchase one common share in lieu thereof) and one warrant to purchase o ...

ICON (NASDAQ: ICLR ) is the world’s second-largest Clinical Research Organization (CRO). It performs outsourced drug development activities on behalf of pharmaceutical and biotechnology companies. In simple words, it performs all functions required to set up and successfully carry out clinical trials suchLong-term investor focusing on quality companies.Coverage of US and European companies. The idea is to develop very comprehensive research reports that will be usefull when reviewing the investment case som ...

BENSALEM, Pa., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith continues its investigation on behalf of ICON Public Limited Company (“Icon” or the “Company”) (NASDAQ: ICLR) investors concerning the Company’s possible violations of federal securities laws. On October 23, 2024, Icon released its third quarter 2024 financial results, missing consensus estimates “due to specific customer and division-level impacts” including “material headwinds from two large customers undergoing budget cuts an ...

LOS ANGELES, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz continues its investigation of ICON Public Limited Company (“Icon” or the “Company”) (NASDAQ: ICLR) on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On October 23, 2024, Icon released its third quarter 2024 financial results, missing consensus estimates “due to specific customer and division-level impacts” incl ...

SAN DIEGO, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether ICON Public Limited Company (NASDAQ: ICLR), any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material information adverse to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws. What if I purchased ICON securities? If you purchased securities and suffered los ...

BELLINGHAM, Wash., Oct. 29, 2024 (GLOBE NEWSWIRE) -- eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), has launched two groundbreaking initiatives at eXpcon Miami: the ICON Incentive Program and the Revenue Share Capping Incentive Program, effective November 1. Both programs are designed to elevate agent success, by unlocking expanded revenue opportunities and further driving their business success. “These initiativ ...

Earnings Performance - Adjusted EPS for Q3 2024 was $3.35, up 1.5% YoY but missed the Zacks Consensus Estimate by 12.99% [1] - GAAP EPS for Q3 2024 was $2.36, up 19.8% YoY [1] - Following the earnings announcement, ICLR stock fell 21% [1] Revenue Performance - Total revenues for Q3 2024 decreased 1.2% YoY to $2.03 billion, missing the Zacks Consensus Estimate by 1.2% [2] - Gross business wins in Q3 amounted to $2.83 billion, with cancellations of $504 million, resulting in net business wins of $2.33 billion and a book-to-bill ratio of 1.15 [2] Margin Performance - Gross profit decreased 2.4% YoY to $594.1 million, with gross margin contracting 35 bps to 29.1% [3] - Selling, general, and administrative expenses rose 10.8% to $205.1 million [3] - Adjusted operating income decreased 8.2% YoY to $386.3 million, with adjusted operating margin contracting 144 bps to 19% [3] Cash Position - Cash and cash equivalents at the end of Q3 2024 were $695.5 million, up from $506.6 million at the end of Q2 2024 [4] - Net debt balance at the end of Q3 2024 was $2.7 billion [4] - Cumulative cash flow from operating activities was $948.3 million, compared to $720.9 million in the prior-year period [4] Guidance - Full-year 2024 revenue guidance lowered to $8.26 - $8.30 billion, representing 1.7-2.2% YoY growth, down from the previous guidance of $8.45-$8.55 billion [5] - Adjusted EPS guidance for 2024 lowered to $13.90 - $14.10, implying 8.7-10.2% YoY growth, down from the previous guidance of $15.00-$15.20 [6] Challenges and Opportunities - The company experienced slower-than-expected activity in its Biotech segment and lower revenue contributions from two of its largest customers undergoing development model transitions [7] - Project delays and cancellations in the fast-burn vaccine area affected revenues [7] - The company remains encouraged by strategic partnerships and increased flow from biotech [8] Industry Comparison - Phibro Animal Health (PAHC) reported Q4 fiscal 2024 adjusted earnings of 41 cents per share, beating the Zacks Consensus Estimate by 20.6%, with revenues of $273.2 million, beating the estimate by 4.1% [10] - Veracyte (VCYT) posted Q2 2024 earnings of 30 cents per share, beating the Zacks Consensus Estimate of a loss of 3 cents, with revenues of $114.4 million, surpassing the estimate by 14% [11] - HealthEquity (HQY) reported Q2 fiscal 2025 adjusted earnings of 86 cents per share, surpassing the Zacks Consensus Estimate by 22.9%, with revenues of $299.9 million, topping the estimate by 5.4% [12]

Financial Data and Key Metrics Changes - ICON reported revenue of $2.03 billion for Q3 2024, a year-on-year decrease of 1.2% or 1% on a constant currency basis [19] - Adjusted EBITDA was $418.8 million, representing 20.6% of revenue, down from 21% in the same period last year [20] - Adjusted net income for the quarter was $279.2 million, equating to adjusted earnings per share of $3.35, an increase of 1.5% year-over-year [20] Business Line Data and Key Metrics Changes - Gross business wins decreased by 7.3% year-over-year to $2.832 billion, with cancellations totaling $504 million, resulting in net awards of $2.328 billion and a net book-to-bill ratio of 1.15x [18] - The backlog grew to a record $24.3 billion, representing a 9.4% year-over-year increase [18] - The company experienced a 20% cancellation rate in vaccine-related projects, contributing to lower-than-expected revenue [9] Market Data and Key Metrics Changes - Customer concentration increased, with the top five customers representing 24.8% of revenue and the top 25 accounting for 62.9% [19] - The company noted a notable increase in therapeutic areas such as cardio and metabolic diseases, with new award growth increasing over 50% on a trailing 12-month basis [12] Company Strategy and Development Direction - ICON is focusing on managing costs effectively and aligning resources globally to support customer needs [10] - The company is committed to capital deployment strategies, including M&A opportunities in laboratory services and geographic expansion [17] - ICON aims to maintain a book-to-bill ratio of 1.2x to 1.3x on a trailing 12-month basis [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the third quarter results were below expectations due to risks materializing more than anticipated, particularly from top customers facing cost pressures [6] - The outlook for 2025 is cautiously optimistic, with expectations of low to mid-single-digit growth, contingent on the recovery of the biotech segment [16] - Management remains confident in the underlying health of the business and the potential for new partnerships to offset current headwinds [17] Other Important Information - The company repurchased $100 million worth of stock in Q3 and has authorization for an additional $250 million, totaling $650 million available for further repurchases [18] - Cash from operating activities was $402.7 million, with free cash flow increasing by 15% year-over-year [22] Q&A Session Summary Question: Insights on Pharma 2025 Budgets - Management sees the large pharma market growing at a reasonable rate of low to mid-single digits, with expectations of recovery for specific customers by late 2025 [24][25] Question: Biotech Demand and Recovery - Management expressed uncertainty regarding the timing of biotech recovery, noting delays in decision-making and project awards [28] Question: Margin Implications and Cost Actions - Management indicated that while they are not providing specific guidance for next year, they expect revenue growth in the low to mid-single digits and are actively managing costs [31][41] Question: Large Pharma Development Model Changes - Management noted that the shift towards more functional approaches in large pharma is not permanent and varies by customer [34][50] Question: Impact of Negative Headlines on Revenue Growth - Management emphasized that while there are challenges, they continue to see growth opportunities and are well-positioned to capitalize on them [51]