ICON Public
The 10-second takeaway
For the quarter ended June 30 (Q2), ICON Public beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share shrank significantly.
Margins shrank across the board.
Revenue details
ICON Public notched revenue of $277.0 million. The 10 analysts polled by S&P Capital IQ predicted sales of $266.6 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $233.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.21. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. GAAP EPS of $0.13 for Q2 were 38% lower than the prior-year quarter's $0.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 35.0%, 30 basis points worse than the prior-year quarter. Operating margin was 6.0%, 70 basis points worse than the prior-year quarter. Net margin was 2.9%, 270 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $282.5 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $1.09 billion. The average EPS estimate is $0.96.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 352 members out of 361 rating the stock outperform, and nine members rating it underperform. Among 93 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 91 give ICON Public a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ICON Public is outperform, with an average price target of $24.80.
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