ICON Earnings: Here’s Why the Stock is Rising Now

ICON plc (NASDAQ:ICLR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.53%

ICON plc Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 104.76% to $0.43 in the quarter versus EPS of $0.21 in the year-earlier quarter.

Revenue: Rose 20.57% to $334 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: ICON plc reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.38. It beat the average revenue estimate of $321.82 million.

Quoting Management: CEO Ciaran Murray commented, “I am happy that Q2 was another strong quarter for ICON. We reported revenue growth of 21% year on year and operating margins of 9.3%. We have continued to book satisfactory levels of new business and our trailing twelve month book to bill now stands at 1.3. Consequently we are raising our revenue guidance to the range of $1.3-$1.32 billion and our EPS guidance to the range of $1.54-$1.64 for the financial year 2013.”

Key Stats (on next page)…

Revenue increased 5.43% from $316.79 million in the previous quarter. EPS increased 19.44% from $0.36 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.4 and has not changed. For the current year, the average estimate has moved up from a profit of $1.55 to a profit of $1.56 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)