Icon falls on downbeat 2025 profit, revenue forecasts

Icon

14/01/2025 14:08

** Shares of Icon  ICLR.O  fall 8.5% to $199.50 premarket
    ** Contract research firm sees its 2025 adj EPS between $13
and $15
    ** The midpoint is lower than Wall Street estimates of
$14.83 - LSEG
    ** The midpoint of co's 2025 rev outlook of $8.05 bln-$8.65
bln is also lower than estimates of $8.50 bln
    ** "Icon continues to navigate dynamic clinical development
market conditions, as trial activity has been impacted by
cautious spending from biopharma customers, in both the biotech
and large pharma businesses," CEO Steve Cutler says
    ** "Overall, the guidance reflects a still-hesitant demand
environment across both pharma and biotech, which will likely
last for an additional 2-4 quarters" - brokerage Evervore ISI
    ** Co reaffirms 2024 adj EPS and rev outlooks
    ** ICLR stock fell 25.9% in 2024

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))