ICON Second Quarter 2024 Earnings: Misses Expectations

ICON (NASDAQ:ICLR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$2.12b (up 4.9% from 2Q 2023).
• Net income: US$146.9m (up 27% from 2Q 2023).
• Profit margin: 6.9% (up from 5.7% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.78 (up from US$1.41 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

ICON Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 27%.

Looking ahead, revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Life Sciences industry in the US.

Performance of the American Life Sciences industry.

The company's shares are down 4.5% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on ICON's balance sheet health.

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