Core Insights - ICON plc (ICLR) reported fourth-quarter 2024 adjusted earnings per share (EPS) of $3.43, a decrease of 0.9% year-over-year, but slightly exceeded the Zacks Consensus Estimate by 0.3% [1] - The company achieved a GAAP EPS of $3.16, reflecting a 21.5% increase from the previous year, with full-year 2024 EPS reaching $14.00, up 9.5% year-over-year, also surpassing the Zacks Consensus Estimate by 0.1% [2] - Following the earnings announcement, ICLR stock rose by 2.4% in after-market trading [2] Revenue Performance - Total revenues for the fourth quarter decreased by 1.4% year-over-year to $2.04 billion, and on a constant currency basis, the decline was 1.6%, although this figure exceeded the Zacks Consensus Estimate by 0.3% [3] - For the full year 2024, revenues amounted to $8.28 billion, representing a 2% increase from the prior year, aligning with the Zacks Consensus Estimate [4] Margin Analysis - Gross profit for the fourth quarter decreased by 3.4% year-over-year to $599.4 million, with gross margin contracting by 67 basis points to 29.4% [5] - Selling, general, and administrative expenses fell by 22.6% to $151.4 million, while adjusted operating income increased by 5.4% year-over-year to $447.9 million, leading to an adjusted operating margin expansion of 138 basis points to 21.9% [5] Cash Position - At the end of 2024, ICON had cash and cash equivalents of $538.8 million, up from $378.1 million at the end of 2023, with a net debt balance of $2.9 billion [6] - Cumulative cash flow from operating activities was $1.29 billion, compared to $1.16 billion in the prior year [6] 2025 Guidance - The company reaffirmed its financial guidance for 2025, expecting revenues in the range of $8.05 billion to $8.65 billion, with the Zacks Consensus Estimate at $8.33 billion [8] - Adjusted EPS is anticipated to be between $13.00 and $15.00, with the Zacks Consensus Estimate at $14.08 [8] Overall Performance - ICON's fourth-quarter results exceeded expectations for both earnings and revenues, with a sequential increase in gross business wins indicating a positive demand environment in the large pharma and biotech sectors [10] - Despite the positive performance, the contraction in gross margins is noted as a concern [11]

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 a specified class period [1]. Allegations Summary - ICON is accused of suffering significant business losses due to customer cost reduction measures and funding limitations affecting its client base [1]. - The company's service offerings were deemed insufficient to mitigate the adverse effects of a market downturn [1]. - Requests for proposals from biotechnology customers were primarily used for price discovery rather than indicating actual client demand [1]. - Customers canceled contracts, reduced engagements, and delayed clinical trial work, leading to a decline in new contracts at historical rates [1]. - ICON's two largest customers began diversifying their clinical research organization providers away from the company [1]. - As a result of the above issues, ICON's reported business metrics misrepresented actual client demand for its services [1]. - Consequently, ICON was tracking significantly below its 2024 revenue and EPS guidance, which lacked a reasonable factual basis [1]. Next Steps for Shareholders - Shareholders who purchased shares during the specified class period are encouraged to register for the class action by April 11, 2025, to participate in potential recovery [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [2]. Firm's Commitment - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices, seeking recovery for losses incurred due to misleading statements [3].

RADNOR, Pa., Feb. 19, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against ICON Public Limited Company ("ICON") (NASDAQ: ICLR) on behalf of all purchasers of ICON ordinary shares between July 27, 2023 and October 23, 2024, inclusive (the "Class Period"). The lead plaintiff deadline is April 11, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:If you suffered ICON losses, you may CLICK HERE or cop ...

Icon PLC (ICLR) came out with quarterly earnings of $3.43 per share, beating the Zacks Consensus Estimate of $3.42 per share. This compares to earnings of $3.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.29%. A quarter ago, it was expected that this contract research organization would post earnings of $3.85 per share when it actually produced earnings of $3.35, delivering a surprise of -12.99%.Over the last four quarte ...

Financial Performance - Q4 2024 revenue was $2,041.1 million, representing a decrease of 1.2% year-over-year, while full-year revenue was $8,281.7 million, an increase of 2.0%[6][13] - Q4 adjusted EBITDA was $422.6 million, or 20.7% of revenue, with a full-year adjusted EBITDA of $1,735.8 million, representing 21.0% of revenue[6][15] - GAAP net income for Q4 2024 was $260.0 million, resulting in diluted earnings per share of $3.16, a 21.5% increase year-over-year[7][14] - Full-year GAAP net income was $791.5 million, with diluted earnings per share of $9.53, reflecting a 28.8% increase compared to the prior year[14] - Net income for the year ended December 31, 2024, increased to $791,474 from $612,335 in 2023, representing a growth of 29.3%[28] - Adjusted EBITDA for the year ended December 31, 2024, was $1,735,794, up from $1,694,091 in 2023, reflecting an increase of 2.4%[29] - Adjusted net income for the year ended December 31, 2024, was $1,162,729, compared to $1,058,177 in 2023, reflecting a growth of 9.8%[29] Cash Flow and Assets - Free cash flow for 2024 was on target at $1.1 billion, with cash generated from operating activities amounting to $1,286.7 million[4][17] - Cash and cash equivalents at the end of 2024 rose to $538,785 from $378,102 in 2023, marking a 42.5% increase[28] - The company reported a net cash provided by operating activities of $1,286,652 for 2024, compared to $1,161,027 in 2023, an increase of 10.8%[28] - Total assets decreased from $16,989,863 (2023) to $16,877,678 (2024), a decline of approximately 0.66%[27] Shareholder Actions - The company repurchased $400.0 million worth of stock in Q4 2024 at an average price of $217, totaling $500.0 million for the full year[6][17] - The board authorized a new share repurchase program of up to $750 million, bringing the total authorized repurchases to $1 billion[6] - The company repurchased ordinary shares worth $499,998 during the year ended December 31, 2024[28] - The diluted weighted average number of ordinary shares outstanding decreased from 83,112,757 in 2023 to 82,236,018 in 2024[29] Backlog and Business Wins - Gross business wins in Q4 2024 were $3,064 million, with net business wins of $2,413 million and a book-to-bill ratio of 1.18[5] - The closing backlog as of Q4 2024 was $24.7 billion, an increase of 1.4% from Q3 2024 and 8.3% from Q4 2023[6] Guidance and Future Outlook - The company reaffirmed its full-year 2025 financial guidance for revenue in the range of $8,050 - $8,650 million and adjusted diluted earnings per share in the range of $13.00 - $15.00[6] Liabilities and Equity - Total current liabilities decreased from $2,825,608 (2023) to $2,796,406 (2024), a reduction of about 1.03%[27] - Shareholders' equity increased from $9,240,743 in 2023 to $9,522,999 in 2024, an increase of approximately 3.05%[27]

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Feb. 19, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises ICON PLC ("ICON" or the "Company") (NASDAQ: ICLR) investors of a class action representing investors that bought securities between July 27, 2023 and October 23, 2024, inclusive (the "Class Period"). ICON investors have until April 11, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone ...

BENSALEM, Pa., Feb. 19, 2025 /PRNewswire/ -- The Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against ICON plc ("ICON" or the "Company") (NASDAQ: ICLR).IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN ICON PLC (ICLR), CONTACT THE LAW OFFICES OF HOWARD G. SMITH BEFORE APRIL 11, 2025 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.Contact the Law Offices of Howard G. Smith to dis ...

NEW YORK, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in ICON Public Limited Company ("ICON " or the "Company") (NASDAQ: ICLR) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of ICON investors who were adversely affected by alleged securities fraud between July 27, 2023 and October 23, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/icon-public-limited-co ...

Legend of the Seas will triple the world's best family vacation count in July 2026MIAMI, Feb. 18, 2025 /PRNewswire/ -- She's an icon, she's a legend, and she's changing the game. Royal Caribbean has once again set a new standard for vacations and revealed the name and debut lineup of the third Icon Class vacation – Legend of the Seas*. The unmatched combination of experiences that define the revolutionary Icon Class will sail year-round from Fort Lauderdale, Florida, starting in November 2026 on 6-night Wes ...

NEW YORK, Feb. 18, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in ICON Public Limited Company ("ICON " or the "Company") (NASDAQ: ICLR) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of ICON investors who were adversely affected by alleged securities fraud between July 27, 2023 and October 23, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/icon-public-limited-company- ...