Full Year 2023 Revenue guidance in the range of
$7,940- $8,340 million, representing growth of 3.3% – 6.8% over Full Year 2022 Revenue guidance.
Full Year 2023 adjusted earnings per share1 guidance in the range of
$12.40- $13.05, representing growth of 6.4% – 10.1% over Full Year 2022 adjusted earnings per share guidance.
Reaffirming Full Year 2022 guidance of revenue in the range of
$7,690- $7,810 millionand adjusted earnings per share1 in the range of $11.65– $11.85.
Full year 2023 financial guidance assumptions:
- An effective tax rate of circa 16.5%.
$1.1 billionof free cash flow and capital expenditures of circa $200 million.
Interest expense in the range of
$280– $300 million.
- Hedging solution finalized resulting in proportion of fixed debt amounting to circa 60% of total debt.
- Excludes any potential share repurchase or M&A activity in the above guidance.
With respect to full year 2022, the company reaffirmed its current guidance of revenue in the range of
This press release contains forward-looking statements, including statements regarding our financial guidance. These statements are based on management's current expectations and information currently available, including current economic and industry conditions. These statements are not guarantees of future performance or actual results, and actual results, developments and business decisions may differ from those stated in this press release. The forward-looking statements are subject to future events, risks, uncertainties and other factors that could cause actual results to differ materially from those projected in the statements, including, but not limited to, the ability to enter into new contracts, maintain client relationships, manage the opening of new offices and offering of new services, the integration of new business mergers and acquisitions, the impact of COVID-19 on our business, as well as other economic and global market conditions and other risks and uncertainties detailed from time to time in
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release contains certain non-GAAP financial measures, including adjusted earnings per share. Adjusted earnings per share excludes amortization, stock compensation, foreign exchange gains and losses, and restructuring and transaction-related / integration-related adjustments. While non-GAAP financial measures are not superior to or a substitute for the comparable GAAP measures, ICON believes certain non-GAAP information is useful to investors for historical comparison purposes.
1 The full-year 2022 and 2023 guidance adjusted earnings per share measures are provided on a non-GAAP basis because the company is unable to predict with a reasonable degree of certainty certain items contained in the GAAP measures without unreasonable efforts. For the same reasons, the company is unable to address the probable significance of the unavailable information.
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Brendan Brennan Chief Financial Officer + 353 1 291 2000