Icon reports Q3 adjusted EPS $3.31, consensus $3.28

Reports Q3 revenue $2.04B, consensus $1.98B. CEO, Barry Balfe commented, “ICON’s (ICLR) results in quarter three were reflective of broad market conditions, as we continued to partner with customers to navigate an uncertain environment. We are pleased with solid gross business wins and revenue in the quarter, resulting in a net book to bill ratio of 1.02 times. While we are encouraged by increased opportunity flow in the quarter, this is tempered by ongoing challenges in the sector including delayed decision making, elevated cancellations and uncertainty in the macro environment. We are amending our full-year financial guidance to reflect these dynamics, in addition to the impact of higher pass-through revenues.”