Icon Plc ( (ICLR) ) has released its Q3 earnings. Here is a breakdown of the information Icon Plc presented to its investors.
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ICON plc, headquartered in Dublin, Ireland, is a leading clinical research organization that provides outsourced services to pharmaceutical, biotechnology, medical device, and government organizations globally. With approximately 39,800 employees across 95 locations in 55 countries, ICON is dedicated to advancing clinical research and improving patient lives.
In its third-quarter earnings report for 2025, ICON plc announced a revenue of $2,042.8 million, marking a 1.3% increase from the previous quarter. The company reported a net income of $2.4 million or $0.03 per diluted share, with adjusted net income at $258.8 million or $3.31 per diluted ordinary share. Despite facing challenges in the market, the company achieved solid gross business wins and maintained a net book-to-bill ratio of 1.02.
Key financial metrics highlighted in the report include an adjusted EBITDA of $396.7 million, representing 19.4% of revenue, and a free cash flow of $333.9 million for the quarter. ICON’s net debt stood at $2.9 billion, with a net debt to adjusted EBITDA ratio of 1.8x. The company also repurchased $250 million worth of stock at an average price of $175 per share. However, a non-cash goodwill impairment charge of $165.3 million was recorded for the Data Solutions Reporting Unit.
Looking ahead, ICON has amended its full-year 2025 financial guidance, increasing revenue expectations to a range of $8,050 – $8,100 million and updating adjusted diluted earnings per share guidance to $13.00 – $13.20. The company remains focused on navigating the uncertain market environment while capitalizing on emerging opportunities.
ICON’s management remains cautiously optimistic about the future, acknowledging the ongoing challenges in the sector, such as delayed decision-making and elevated cancellations. The company is committed to adapting its strategies to maintain growth and deliver value to its stakeholders.