ICON's Q3 adj EPS and adj EBITDA beat analyst expectations

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27/10/2026 20:56

Overview
Clinical research group's Q3 revenue slightly beat analyst expectations
Q3 adjusted EPS and adjusted EBITDA both beat analyst expectations
Company repurchased $400 mln in stock and raised buyback authorization to $750 mln

Outlook
ICON expects 2026 revenue between $8.1 bln and $8.2 bln
Company sees 2026 adjusted diluted EPS in the range of $10.35 to $10.65
Company says updated 2026 guidance reflects sustained operational progress and higher pass-through activity

Result Drivers
COMMERCIAL BOOKINGS - Co said strong commercial performance and exceptional bookings drove results, with net business wins of $3,150 mln and book-to-bill of 1.56x
BUSINESS MIX & COST DISCIPLINE - Improved business mix and strong cost discipline contributed to sequential adjusted EBITDA growth

Company press release: ID:nBw2SvdDSa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$2.02 bln
$2.01 bln (15 Analysts)
Q3 Adjusted EPS
Beat
$2.66
$2.60 (15 Analysts)
Q3 Net Income
 
$122.13 mln
 
Q3 Adjusted EBITDA
Beat
$336.90 mln
$332.62 mln (14 Analysts)
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for ICON PLC is $187.00, about 1.8% above its October 26 closing price of $183.78
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads
Oct 27 - Healthcare data firm IQVIA Q3 revenue beats on strong bookings
Oct 27 - Ireland's Johnson Controls Q4 sales rise 10%, slightly beat estimates
Oct 26 - Aspen Neuroscience, Bambusa Therapeutics launch US IPOs as biotech boom rolls on

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)