Parexel International Corp. (NASDAQ:PRXL) 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.
Parexel International Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 51.52% to $0.5 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 10.31% to $454.49 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Parexel International Corp. reported adjusted EPS income of $0.5 per share. By that measure, the company beat the mean analyst estimate of $0.4. It beat the average revenue estimate of $438.1 million.
Quoting Management: Mr. Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer stated, “I am pleased with our positive third quarter financial results which reflect a maturing backlog and a move into a more normalized project implementation environment. Revenue growth was very strong, our profitability improvement initiatives tracked according to plan, (especially in the Clinical Research Services business), and we delivered strong growth in earnings per share. We continue to be excited about the Liquent acquisition, and the integration has proceeded smoothly and as expected. We also welcome our new colleagues from the HERON Group, an acquisition that we announced today, and which bolsters our commercialization capabilities.”
Key Stats (on next page)…
Revenue decreased 5.93% from $483.14 million in the previous quarter. EPS increased 21.95% from $0.41 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 $0.43 and has not changed. For the current year, the average estimate has moved up from a profit of $1.48 to a profit of $1.52 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)