Core Viewpoint - Icon PLC reported quarterly earnings of $3.19 per share, exceeding the Zacks Consensus Estimate of $3.08 per share, but down from $3.47 per share a year ago, indicating a 8.1% year-over-year decline [1] - The company posted revenues of $2 billion for the quarter, missing the Zacks Consensus Estimate by 0.58% and down from $2.09 billion year-over-year, reflecting a 4.3% decrease [2] Group 1: Earnings Performance - Icon PLC achieved an earnings surprise of 3.57% for the recent quarter, having previously reported earnings of $3.43 per share against an expectation of $3.42 per share, resulting in a surprise of 0.29% [1][2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times [2] Group 2: Revenue Insights - The company has topped consensus revenue estimates only once in the last four quarters, indicating challenges in revenue performance [2] - The current consensus EPS estimate for the upcoming quarter is $3.25, with expected revenues of $2.05 billion, while the estimate for the current fiscal year is $13.48 on $8.21 billion in revenues [7] Group 3: Stock Performance and Outlook - Icon PLC shares have declined approximately 28.8% since the beginning of the year, contrasting with the S&P 500's decline of 5.5% [3] - The estimate revisions trend for Icon PLC is currently unfavorable, resulting in a Zacks Rank 4 (Sell), suggesting expected underperformance in the near future [6] Group 4: Industry Context - The Medical Services industry, to which Icon PLC belongs, is currently ranked in the top 29% of over 250 Zacks industries, indicating a relatively strong position within the sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

ICON plc Q1 2025 Results Period Ended March 31, 2025 Forward Looking Statement Statements included in this presentation which are not historical facts are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (the "PSLRA"). Forward-looking statements include statements regarding our financial guidance and outlook, and may be identified by the use of future tense or other forward-looking words s ...

Financial Performance - First quarter 2025 revenue was $2,001.3 million, a decrease of 4.3% compared to Q1 2024[6] - GAAP net income for Q1 2025 was $154.2 million, resulting in diluted earnings per share of $1.90, down 15.6% year over year[7] - Adjusted EBITDA for Q1 2025 was $390.7 million, representing 19.5% of revenue, a decrease of 12.0% from Q1 2024[8] - Net income for the three months ended March 31, 2025, was $154,151,000, a decrease of 17.7% compared to $187,438,000 for the same period in 2024[23] - Adjusted EBITDA for the three months ended March 31, 2025, was $390,658,000, down 12.1% from $444,036,000 in the prior year[25] - Adjusted net income for the three months ended March 31, 2025, was $258,269,000, a decrease of 10.5% from $288,513,000 in 2024[25] Guidance and Projections - Full-year 2025 revenue guidance is updated to a range of $7,750 - $8,150 million, reflecting a year-over-year decrease of 6.4% to 1.6%[5] - Adjusted diluted earnings per share guidance for 2025 is now projected to be between $12.75 and $14.25, indicating a year-over-year change of -8.9% to +1.8%[9] Cash Flow and Capital Expenditures - Cash generated from operating activities in Q1 2025 was $268.2 million, with capital expenditures of $28.9 million[9] - Cash flows provided by operating activities decreased to $268,240,000 from $327,076,000, reflecting a decline of 18% year-over-year[23] - The company reported a net cash used in financing activities of $252,832,000, compared to $263,699,000 in the same period last year[23] - Cash and cash equivalents at the end of the period were $526,698,000, down from $396,082,000 at the end of the same period in 2024[23] Debt and Financial Ratios - As of March 31, 2025, net debt was $2.9 billion, with a net debt to adjusted EBITDA ratio of 1.7x[9] - The effective tax rate on adjusted net income for Q1 2025 was 16.5%[9] Shareholder Actions - The company repurchased ordinary shares amounting to $250,000,000 during the quarter, reflecting a strategic move to enhance shareholder value[23] - The diluted weighted average number of ordinary shares outstanding decreased to 80,924,355 from 83,249,303, indicating a reduction of approximately 2.8%[25] Business Operations - Net business wins in Q1 2025 were $2,022 million, with a book-to-bill ratio of 1.01[9] - The closing backlog as of March 31, 2025, was $24.7 billion, an increase of 6.0% year over year[9] - The company incurred restructuring charges of $39,346,000 during the quarter, which were not present in the same period last year[25] Currency Impact - The effect of exchange rate movements on cash resulted in a positive impact of $9,787,000 compared to a negative impact of $6,032,000 in the prior year[23]

Core Viewpoint - A class action securities lawsuit has been filed against ICON Public Limited Company, alleging securities fraud that negatively impacted investors between July 27, 2023, and January 13, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that ICON suffered a material loss of business due to customer cost reduction measures and funding limitations affecting its client base [2]. - It is alleged that ICON's service offerings were inadequate to protect the company from a significant market downturn [2]. - The requests for proposals from biotechnology customers were reportedly used as price discovery tools, not reflecting actual client demand [2]. - Customers of ICON are said to have canceled contracts, limited engagements, and delayed clinical trial work, failing to enter new contracts at historical rates [2]. - The two largest customers of ICON were diversifying their clinical research organization providers away from the company [2]. - As a result of these issues, ICON's reported business metrics misrepresented actual client demand for its services [2]. - The company was tracking significantly below its 2024 revenue and EPS guidance, which lacked a reasonable factual basis [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the relevant time frame have until April 11, 2025, to request to be appointed as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4].

Core Viewpoint - ICON PLC is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934 due to misleading statements and undisclosed material losses impacting its business operations [1][3]. Company Overview - ICON PLC is identified as a clinical research organization (CRO) [2][3]. Allegations in the Lawsuit - The lawsuit claims that ICON suffered a material loss of business due to customer cost reduction measures and funding limitations affecting its client base [3]. - It is alleged that ICON's Functional Service Provision (FSP) and hybrid model offerings were inadequate to mitigate the effects of a significant market downturn [3]. - The requests for proposals from biotechnology customers were reportedly used as price discovery tools rather than indicative of actual client demand [3]. - Customers of ICON are said to have canceled contracts, limited engagements, delayed clinical trial work, and failed to enter into new contracts at historical rates [3]. - The two largest customers of ICON were diversifying their CRO providers away from ICON [3]. - As a result of these issues, ICON's reported net new business awards and book-to-bill metrics misrepresented actual client demand [3]. - Consequently, ICON was tracking significantly below the 2024 revenue and EPS guidance issued during the Class Period, which lacked a reasonable factual basis [3]. Financial Performance - On October 23, 2024, ICON reported quarterly revenues of $2.03 billion, missing consensus estimates of $2.13 billion by over $100 million [4]. - The quarterly net new business wins declined to $2.3 billion from $2.6 billion in the prior quarter, and the book-to-bill ratio fell to 1.15 from 1.22 [4]. - The CEO indicated that two large pharmaceutical customers had curtailed upcoming FSP trial work due to ongoing cost containment measures, which would negatively impact financial performance [4]. - Following this news, the price of ICON ordinary shares dropped by more than 20% over two trading sessions [4].

Core Viewpoint - A class action securities lawsuit has been filed against ICON Public Limited Company, alleging securities fraud that negatively impacted investors between July 27, 2023, and January 13, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that ICON concealed significant business losses due to customer cost reduction measures and funding limitations affecting its client base [2]. - It is alleged that ICON's service offerings were inadequate to mitigate the effects of a market downturn [2]. - The requests for proposals from biotechnology customers were reportedly used as price discovery tools rather than reflecting actual client demand [2]. - Customers of ICON are said to have canceled contracts, reduced engagements, and delayed clinical trial work, leading to a decline in new contracts [2]. - The two largest customers of ICON were diversifying their clinical research providers away from the company [2]. - As a result of these issues, ICON's reported business metrics misrepresented actual client demand for its services [2]. - The company was tracking significantly below its 2024 revenue and EPS guidance, which lacked a reasonable factual basis [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified period have until April 11, 2025, to request to be appointed as lead plaintiff [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Core Viewpoint - ICON PLC is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934 due to misleading statements and undisclosed business challenges impacting its financial performance [1][3]. Company Overview - ICON PLC is identified as a clinical research organization (CRO) [2][3]. Allegations - The lawsuit claims that ICON's management made false statements regarding the company's business health, including: - Suffering from significant business losses due to customer cost reductions and funding limitations [3]. - Inadequate protection from market downturns despite its Functional Service Provision (FSP) and hybrid model offerings [3]. - Misleading requests for proposals from biotechnology customers that did not reflect actual demand [3]. - Cancellations and reductions in contracts from customers, leading to a decline in new business engagements [3]. - Diversification of CRO providers by ICON's two largest customers [3]. - Misrepresentation of client demand through reported business metrics [3]. - Tracking below the 2024 revenue and EPS guidance, which lacked a factual basis [3]. Financial Performance - In Q3 2024, ICON reported revenues of $2.03 billion, missing consensus estimates by over $100 million [4]. - The company's net new business wins decreased from $2.6 billion to $2.3 billion sequentially, and the book-to-bill ratio fell from 1.22 to 1.15 [4]. - Following the financial disclosure, ICON's share price dropped by more than 20% over two trading sessions [4].

Core Viewpoint - Rosen Law Firm is reminding purchasers of ICON plc ordinary shares during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit, indicating potential compensation for affected investors [1][2]. Company Overview - ICON plc is facing allegations of making false and misleading statements regarding its business performance and client demand during the Class Period, which has led to significant investor losses [4]. Class Action Details - The lawsuit claims that ICON suffered a material loss of business due to customer cost reduction measures and funding limitations, which were not disclosed to investors [4]. - It is alleged that ICON's service offerings were insufficient to mitigate the adverse effects of a market downturn, and that requests for proposals were misrepresented as indicative of client demand [4]. - The lawsuit highlights that ICON's two largest customers were diversifying their CRO providers away from ICON, further impacting its business [4]. - As a result of these issues, ICON's reported business metrics were misleading, and the company was tracking below its revenue and earnings guidance for 2024 [4]. Legal Representation - Investors are encouraged to select qualified legal counsel with a successful track record in securities class actions, as many firms may not have the necessary experience or resources [3]. - Rosen Law Firm has a history of significant recoveries for investors, including over $438 million in 2019 alone [3].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of ICON Public Limited Company regarding a class action lawsuit due to alleged misleading statements and failures to disclose material information during the class period from July 27, 2023, to October 23, 2024 [1]. Allegations Summary - ICON is accused of suffering a material loss of business due to customer cost reduction measures and funding limitations impacting its client base [1]. - The company's functional service provision and hybrid model offerings were deemed insufficient to mitigate the adverse effects of a significant market downturn [1]. - Requests for proposals from biotechnology customers were primarily used as price discovery tools, not indicative of actual client demand [1]. - Customers canceled contracts, limited engagements, delayed clinical trial work, and failed to enter new contracts at historical rates [1]. - ICON's two largest customers were diversifying their clinical research organization providers away from the company [1]. - As a result of the above issues, ICON's reported net new business awards and book-to-bill metrics misrepresented actual client demand [1]. - Consequently, ICON was tracking significantly below the 2024 revenue and EPS guidance issued during the class period, which lacked a reasonable factual basis [1]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by April 11, 2025, to participate in the case without any cost or obligation [2]. - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit, fraud, and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against ICON plc due to allegations of misleading statements and failure to disclose significant business challenges, leading to a federal securities class action [2][4]. Company Performance - ICON reported third fiscal quarter revenues of $2.03 billion, missing consensus estimates of $2.13 billion by over $100 million [5][6]. - The company's net new business wins declined to $2.3 billion from $2.6 billion in the previous quarter, and the book-to-bill ratio fell from 1.22 to 1.15 [6]. Allegations Against ICON - Allegations include that ICON suffered a material loss of business due to customer cost reduction measures and funding limitations impacting its client base [4]. - The complaint states that ICON's service offerings were insufficient to mitigate the effects of a market downturn, and that requests for proposals were primarily used for price discovery rather than indicating actual client demand [4]. - It is claimed that ICON's largest customers were diversifying their contract research organization (CRO) providers away from ICON, leading to a misrepresentation of client demand metrics [4]. Legal Proceedings - Investors who suffered losses exceeding $75,000 in ICON between July 27, 2023, and October 23, 2024, are encouraged to discuss their legal rights with Faruqi & Faruqi [1]. - The deadline to seek the role of lead plaintiff in the class action is April 11, 2025 [2][7].