ICON Backs Annual Guidance, Initiates 2025 Outlook; Pre-Market Stock Down

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(RTTNews) - ICON Plc (ICLR), healthcare intelligence and clinical research company, on Tuesday reaffirmed its annual guidance. In addition, the firm has initiated outlook for the full-year 2025.

Excluding items, for the full-year 2024, the company still expects earnings per share of $13.90 to $14.10, with revenue of $8.260 billion to $8.300 billion.

For the full year to December 31, the company expects adjusted earnings per share of $13 to $15, on revenue of $8.050 billion to $8.650 billion. This guidance excludes any potential share repurchase or additional merger and acquisition activity.

Steve Cutler, CEO of ICON Plc, said: "Our outlook for this year reflects an expected transition period which includes a headwind from our top two customers on a combined basis, coupled with an inconsistent recovery in biotech. This is being partially offset by growth in strategic partnerships that are expected to contribute to our results as we progress through the year."

ICLR was down by 9.12 percent at $198.10 in the pre-market trade on the Nasdaq.