19h ago The bottom line shows a net income of $78.2M in the third quarter, which works out to roughly $0.76 per share. The underlying adjusted free cash flow result in the first nine months of the year was $318M or approximately $3.05 per share. Including reimbursable out-of-pocket expenses, 2.5% in Clinical Solutions and 21.7% in Deployment Solutions as of March 31, 2022. The Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. Appropriate Acceleration in Clinical Development. After years of responding and reacting, biopharma is ready to take bold new steps forward, leveraging new levels of funding, new resourcing models and partners for enhancing asset value, new global centers of excellence and even new constraints to advance life sciences innovation. Revenue for the first quarter of $1,336.3 million increased 10.5% on a reported basis and 11.7% on a constant currency basis year-over-year. MORRISVILLE, N.C., April 29, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today reported financial results for the three months ended March 31, 2022. Detail: Visit URL Category: Health Detail: Visit URL . Cash flows provided by operating activities were $70.9 million during the three months ended March 31, 2022. Syneos Health Inc company profile analysis with the premuim data - Globaldata . Engaging them is different now.. It provides a range of clinical and commercial services to customers in the . Syneos Health is a biopharmaceutical contract research organization that operates . That means we bring together the best clinical and commercial minds to create a better, smarter, faster way to get medicines into the hands of patients who need it most. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Syneos Health has just released their 2022 Health Trends: Insights for Industry Change Agents report. To participate via phone, please register in advance at this link. We bring together approximately 28,000 clinical and commercial minds with the ability to support customers in more than 110 countries. Excluding reimbursable out-of-pocket expenses, 16.6% in Clinical Solutions and 26.4% in Deployment Solutions as of March 31, 2022. The stock price is down 34 percent this year, and well below its 52-week high of $104.18. Phone: 919 876 9300 Fax: 919 876 9360 Toll-Free: 866 462 7373 Use of Non-GAAP Financial Measures and Operating Metrics. Health 1030 Sync Street. See insights on Syneos Health including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Back end administrative functions, automated processing . Excluding reimbursable out-of-pocket expenses, $912.7 million for the first quarter, year-over-year growth of 20.3% and a book-to-bill ratio of 1.32x, and $3,743.4 million for the trailing twelve months, year-over-year growth of 22.6% and a book-to-bill ratio of 1.37x. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. As Industry Dynamics Shift, Smaller Biotechnology Companies Will Continue to Drive Dealmaking in 2022. Our total revenue for the first . Net new business awards and book-to-bill ratios for the three and twelve months ended March 31, 2022, were as follows (in millions): Our backlog as of March 31, 2022, was as follows (in millions): (a)Net new business awards and book-to-bill ratios including reimbursable out-of-pocket expenses for the trailing twelve months were impacted by the adjustment made to Clinical Solutions backlog in the fourth quarter of 2021 to reflect the Companys expectation of reduced reimbursable expenses going forward. Posted by Defense World Staff on Oct 16th, 2022. Each of the non-GAAP measures noted above are used by management and the Board to evaluate the Company's core operating results because they exclude certain items whose fluctuations from period-to-period do not necessarily correspond to changes in the core operations of the business. Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. In addition to announcing its new CEO and COO, Syneos reported Friday that its revenue from the first quarter of this year totaled $1.34 billion. The Company defines adjusted net income (including adjusted diluted earnings per share) as net income (including diluted earnings per share) excluding acquisition-related amortization; restructuring and other costs; transaction, integration-related and other expenses; share-based compensation expense; gain or loss on extinguishment of debt; other income (expense), net; and the income tax effect of the above adjustments. Adjusted net income (including adjusted diluted earnings per share) and adjusted EBITDA are used by management and the Board to assess the performance of the Company's business. We also present certain key operating metrics, including a new operating metric, segment book-to-bill ratio excluding reimbursable out-of-pocket expenses, due to our expectations that reimbursable out-of-pocket expenses as a percentage of revenue will remain lower relative to pre-pandemic levels as discussed above. I have no business relationship with any company whose stock is mentioned in this article. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Also, other companies might calculate these measures differently. I won't chase the stock here, but it for sure is a name I'd be looking to add to my portfolio on weakness. Shares of Syneos Health (SYNH) fell 17.6% today following the release of the company's Q2 results this morning. The free cash flow is spent on share buybacks and M&A, which creates a great set-up for the future. News. New commercial models will have two key dimensions: The human and the digital. Investor Relations Contact: The 9M 2021 net income was approximately $159M, an increase of 58% from 9M 2020, and the EPS was $1.53. . February 17, 2022 06:10 ET | Source: Syneos Health, Inc. Fourth quarter revenue of $1,373.4 million increased 20.5% year-over-year . Get The Latest SYNH Stock Forecast, Price Target, Earnings Estimates, Headlines, Short Interest at MarketBeat. Despite these obstacles, there is renewed market dynamism and optimism as we enter the New Year. Second Quarter 2022 Results. Revenue (2021) $5.2B 18.1% (2021 vs 2020) EPS XXX. Syneos reported an operating cash flow of $264.3M in the first nine months of the year, and this included an investment in the working capital position of approximately $96.7M. "Our second quarter revenue and profitability reflect the strength of our strategy and our people's skill in . . . 2022 Health Trends: Insights for Industry Change Agents : Urgency For Representation: 2022 Health Trends | Syneos Health . These rates have been adjusted to exclude tax impacts related to valuation allowances recorded against deferred tax assets. MORRISVILLE, N.C. - January 11, 2022 - Syneos Health . . In the past 60 days, the Zacks Consensus Estimate for Syneos Health's 2022 earnings has moved 2.1% down to $5.02. Looking for a helping hand in the market? Keep in mind the free cash flow calculation above does not take the payments related to the withholding tax for share based compensation into account. MORRISVILLE, N.C., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today reported financial results for the three and six months ended June 30, 2022. As a group, research analysts forecast that Syneos Health, Inc. will post 4.52 EPS for the current fiscal year. GAAP diluted earnings per share of $0.44 increased 18.9% from $0.37 in the first quarter of 2021. Commercial Solutions revenue increased 18.1% on a reported basis and 18.9% on a constant currency basis to $317.9 million. 1. 2022 2021 Revenue . Syneos Health has 5 employees across 91 locations and $5.21 b in annual revenue in FY 2021. 28,000 (2022) . The bottom line shows a net income of $78.2M in the third quarter, which works out to roughly $0.76 per share. Our product development expertise is enabling us to deliver against our strategy and accelerate customer success. revenue growth overall, not only for the remainder of 2022 . As I'm a long-term investor, I'll highlight some stockpicks which will have a 5-7 year investment horizon. Through its Contract Research Organization (CRO) and Contract Commercial Organization (CCO), it provides integrated and self-contained biopharmaceutical product development solutions varying from Early Phase (Phase I) clinical trials to complete commercialization of biopharmaceutical products. WACC % explanation, calculation, historical data and more GAAP net income for the three months ended March 31, 2022, increased 19.2% to $46.2 million, resulting in diluted earnings per share of $0.44, compared to GAAP net income of $38.7 million, or diluted earnings per share of $0.37, for the three months ended March 31, 2021. Maintaining and growing the industrys reputation will be a key opportunity for 2022. Syneos Health Reports First Quarter 2022 Results. Important factors that could cause actual results to differ materially include, but are not limited to: risks associated with the COVID-19 pandemic; the Companys potential failure to generate a large number of new business awards and the risk of delay, termination, reduction in scope, or failure to go to contract of our business awards; the Companys potential failure to convert backlog to revenue; fluctuations in the Companys operating results and effective income tax rate; the impact of potentially underpricing the Companys contracts, overrunning our cost estimates, or failing to receive approval for or experiencing delays with documentation of change orders; cyber-security and other risks associated with the Companys information systems infrastructure; changes and costs of compliance with regulations related to data privacy; concentration of the Companys customers or therapeutic areas; the risks associated with doing business internationally, including risks related to the war in Ukraine; challenges by tax authorities of the Companys intercompany transfer pricing policies; the Companys potential failure to successfully increase its market share, grow its business, and execute its growth strategies; the Companys ability to effectively upgrade its information systems; the Companys failure to perform its services in accordance with contractual requirements, regulatory standards, and ethical considerations; risks related to the management of clinical trials; the need to hire, develop, and retain key personnel; the impact of unfavorable economic conditions, including the uncertain international economic environment; changes in foreign currency exchange rates; effective income tax rate fluctuations; the Companys ability to protect its intellectual property; risks related to the Companys acquisition strategy, including its ability to realize synergies; the Companys relationships with customers who are in competition with each other; any failure to realize the full value of the Companys goodwill and intangible assets; risks related to restructuring; the Companys compliance with anti-corruption and anti-bribery laws; the Companys dependence on third parties; potential employment liability; impacts from increasing focus on environmental sustainability and social initiatives; the Companys ability to utilize net operating loss carryforwards and other tax attributes; downgrades of the Companys credit ratings; competition in the biopharmaceutical services industry; outsourcing trends and changes in aggregate spending and research and development budgets; the impact of, including changes in, government regulations and healthcare reform; intense competition faced by our customers from lower cost generic products and other competing products; the Companys ability to keep pace with rapid technological change; the cost of and the Companys ability to service its substantial indebtedness; other risks related to ownership of the Companys common stock; and other risk factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 as updated by the Companys other SEC filings, copies of which are available free of charge on the Company's website at investor.syneoshealth.com. Although the material conditions during the pandemic have strained all parts of the healthcare industry, innovation has thrived [] Syneos Health,Inc. and SubsidiariesConsolidated Statements of Operations(in thousands, except per share data)(unaudited), Syneos Health,Inc. and SubsidiariesConsolidated Balance Sheets(in thousands, except par value)(unaudited), Syneos Health,Inc. and SubsidiariesConsolidated Statements of Cash Flows(in thousands)(unaudited), Syneos Health,Inc. and SubsidiariesReconciliation of GAAP to Non-GAAP Measures(in thousands)(unaudited), Syneos Health,Inc. and SubsidiariesReconciliation of GAAP to Non-GAAP Measures(in thousands, except per share data)(unaudited), Syneos Health,Inc. and SubsidiariesReconciliation of GAAP to Non-GAAPFull Year 2022 Guidance(in millions, except per share data)(unaudited). The Company's full year 2022 guidance is outlined below: Syneos Health will host a conference call at 8:00 a.m. Clinical Solutions net new business awards and book-to-bill ratios: Including reimbursable out-of-pocket expenses, $1,241.9 million for the first quarter, year-over-year growth of 1.6% and a book-to-bill ratio of 1.22x, and $4,392.9 million for the trailing twelve months, a year-over-year decline of 7.1% and a book-to-bill ratio of 1.07x. The top 10 trends set to catalyze the year ahead align around key themes focused on Value Creation, Human Centricity and Industry Change. There's a simple explanation for that. The key trends for the year, as predicted by Syneos, revolve around three core themes, value creation, human centricity, and industry change. Sarah Mahoney. Do the numbers hold clues to what lies ahead for the stock? After adjusting the reported cash flow for these WC changes and after deducting the lease payments to the tune of $12.7M, the adjusted operating cash flow in the first nine months of the year was approximately $348M. Including reimbursable out-of-pocket expenses, $1,241.9 million for the first quarter, year-over-year growth of 1.6% and a book-to-bill ratio of 1.22x, and . Look for important disruptions in how key stakeholders engage with each other, including a newly hybrid field, changing roles for clinical research associates (CRAs), new paths to recruitment and simplification of the complex. 5. Biostatistics and Statistical Programming, Clinical Development Services Project Management, Scientific and Medical Affairs Advisory Group, Risk and Program Management Advisory Group, Standard Contractual Clauses for Suppliers. Conducted on an annual basis, the survey provides a review of . Please refer to the "Use of Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Measures" included in this press release and accompanying tables for important disclosures about non-GAAP measures and a reconciliation of these measures to the nearest GAAP measures. Loss on extinguishment of debt is associated with debt prepayments and refinancing activities. Tender wasn't expecting any surprises when . If theres one through line in this years report, its this: we are an industry working toward sustainable acceleration, said Leigh Householder, Managing Director, Omnichannel Strategy, Syneos Health. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 2022 Syneos Health. We also present revenue growth in constant currency. Additional Information As of September 30th, there was short interest totalling 1,330,000 shares, a decline of 19.9% from the September 15th total of 1,660,000 shares. New Era of Biopharma Product Development to be Fueled by Value Creation, Human Centricity and Industry Change MORRISVILLE, N.C. - December 21, 2021 - Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released 2022 Health Trends: Insights for Industry Change Agents. June 7, 2022. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. News . Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income . Created through the merger of two industry leading companies INC Research and inVentiv Health we bring together approximately 28,000 clinical and commercial minds with the ability to support customers in more than 110 countries. Raleigh, NC. Icon PLC (ICLR) delivered earnings and revenue surprises of 2.39% and 0.04%, respectively, for the quarter ended September 2022. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. But for Syneos Health head of strategy Maria Tender, one such event last July became her favorite moment of the year. As you can see in the image above the total capex was just $30M. Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization purpose-built to accelerate customer success. Net Income (2021) XXX 21.8% . To learn more about how we are Shortening the distance from lab to life, visit syneoshealth.com or subscribe to our podcast. Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. Consider joining European Small-Cap Ideas to gain exclusive access to actionable research on appealing Europe-focused investment opportunities, and to the real-time chat function to discuss ideas with similar-minded investors! Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. Commercial Solutions net new business awards and book-to-bill ratios: Including reimbursable out-of-pocket expenses, $366.7 million for the first quarter, year-over-year growth of 12.2% and a book-to-bill ratio of 1.15x, and $1,399.6 million for the trailing twelve months, year-over-year growth of 21.8% and a book-to-bill ratio of 1.13x. In 2022, the transformation accelerates. This is up about 10.5 percent from the first . August 02, 2022 06:05 ET | Source: Syneos Health, Inc. Revenue for the second quarter of $1,360.7 million increased 6.1% on a reported basis and 8.3% on a constant currency basis year-over-year . Specifically, Clinical Solutions book-to-bill ratio excluding reimbursable out-of-pocket expenses, represents Clinical Solutions net new business awards, excluding reimbursable out-of-pocket expenses, divided by Clinical Solutions revenue, excluding reimbursable out-of-pocket expenses, in each case for the respective period. We lead with a product development mindset, strategically blending clinical development, medical affairs and commercial capabilities to address modern market realities. Represents non-cash share-based compensation expense related to awards granted under equity incentive plans. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. . Our Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. Guidance for Adjusted Diluted EPS is based on an expectation of a fully diluted weighted average share count for the year ending December 31, 2022 of approximately 103.9 million shares, which will vary by quarter. Revenue increased 2% to an MM+M-estimated $266 million. New product development models are standing up in incredibly demanding and disruptive times, with healthcare professionals tested by high levels of burnout and the biopharma industry challenged by finding and retaining key talent. The human toll from the pace and scale of disruption demands a re-examination of every aspect of product development. According to a recent benchmarking study by Syneos Health, biopharma leaders on average rate their use of modern customer engagement and omnichannel infrastructure at six out of 10, notably better than prior to the pandemic. Syneos Health Revenue 2012-2022 SYNH MacroTrends Health (8 days ago) Syneos Health revenue for the twelve months ending June 30, 2022 was $5.419B, a 14.55% increase year-over-year. Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including the future impact of the COVID-19 pandemic on our business, financial results and financial condition, expected interest rates, anticipated financial results for the full year 2022, trends in reimbursable out-of-pocket expenses, benefits of recent acquisitions and plans for capital deployment. The Companys Net Leverage Ratio was 3.6x trailing twelve months Adjusted EBITDA. Website: www.syneoshealth.com: Syneos Health (formerly InVentiv Health Incorporated and INC Research) is a NASDAQ listed American multinational contract research organization based in Morrisville, North Carolina. Fax: +1 919 876 9360. Syneos Health revenue for the quarter ending June 30, 2022 was $1.361B, a 6.09% increase year-over-year. As the patient voice rises, a long-standing communications gap between patients and those who innovate on their behalf is finally beginning to close. Morrisville, NC 27560. We support a diverse, equitable and inclusive culture. While a revenue increase of almost 23% on a reported basis is very impressive, the real test will likely be how the 2022 results will improve on the 2021 performance. I have no business relationship with any company whose stock is mentioned in this article. 2022 Health Trends Implications Connect with Us to Learn More. 00:08 Good morning and welcome to the Syneos Health First Quarter 2022 Earnings Conference Call. where our leaders will share their perspectives on these trends. The company's stock closed at $65.20 a share, down from $79.14 on Monday. All Rights Reserved. Revenue for the first quarter of $1,336.3 million increased10.5% on a reported basis and 11.7% on a constant currency basis year-over-year. The operating income increased by approximately 15% to $113.4M while the pre-tax income increased by approximately 50% to $100.4M. Please check your download folder. Syneos Health revenue for the quarter ending June 30, 2022 was, Syneos Health revenue for the twelve months ending June 30, 2022 was, Syneos Health annual revenue for 2021 was, Syneos Health annual revenue for 2020 was, Syneos Health annual revenue for 2019 was. Responsible for the enterprise data and analytics landscape for Syneos Health. When I published the first article on Syneos, I really liked the long-term outlook but I didn't think there was any pressure to go long right away. Weighted average common shares outstanding: Cash, cash equivalents, and restricted cash, Accounts receivable and unbilled services, net, Prepaid expenses and other current assets, Current portion of operating lease obligations, Current portion of finance lease obligations, Preferred stock, $0.01 par value; 30,000 shares authorized, 0 shares issued and outstanding as of March 31, 2022 and December 31, 2021, Common stock, $0.01 par value; 600,000 shares authorized, 102,558 and 103,764 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively, Accumulated other comprehensive loss, net of taxes, Total liabilities and shareholders' equity. Strong fundamentals and execution, powered by innovative data and technology insights drove robust earnings and profitability growth in the first quarter, said Alistair Macdonald, CEO, Syneos Health. The Company updated its full year 2022 guidance for revenue to reflect lower expected reimbursable expenses in its Clinical Solutions segment and the increased impact of foreign currency exchange . 1030 Sync Street Morrisville, NC 27560. I was originally attracted by Syneos' impressive long-term guidance, and earlier this year, SYNH confirmed it was on the right track to work towards that long-term guidance. Syneos Health, Inc. is a key global biopharmaceutical solutions company offering a broad range of clinical and commercial facilities. Syneos Health supports a diverse, equitable and inclusive culture that cares for colleagues, customers, patients, communities and the environment. Do the numbers hold clues to what lies ahead for the stock? That's a good result as this means Syneos reported a Q3 net income which equals the . Syneos Health is delivering on its promises as the company reports strong revenue and free cash flow growth. 2022 Syneos Health. +1 919 745 2745, Executive Director, External Communications At the same time, trust in government institutions suffered leaving manufacturers to fill the void by communicating with scientific rigor and transparency. Phone: +1 919 876 9300. MORRISVILLE, N.C., April 29, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today reported financial results for the three months ended March 31, 2022. . Specifically, adjusted earnings of $1.25 per share were up 28.9% from the prior . I am not receiving compensation for it (other than from Seeking Alpha). Prior period segment results have been recast to conform to insignificant changes to management reporting in 2022. Syneos Health Reports First Quarter 2022 Results | News. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. Syneos Health annual/quarterly revenue history and growth rate from 2012 to 2022. Industry Change: Stepping up to address social policy public health issues head-on, leading by example in a newly dynamic environment for innovation. While a lower net cost of debt played an important role in the pre-tax income boost, the substantial increase was related to the $3.8M in other income in Q3 2021 compared to a $10.6M 'other expense' in Q3 2020 and this difference of in excess of $14M was a major factor in determining the pre-tax income (and the net income). Events that impact m arkets, s tocks, IPOs, c ommodities, f orex from . 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Serves customers in more than 110 countries and optimism as we enter the new.! Balance Sheets ( in thousands, except per share data ) ( unaudited ), Syneos Health Reports first 2022 5 % and are presented gross without the benefit of associated income tax deduction an income from! Virtual town halls have become a staple of agency life an ad-blocker you Growing the industrys reputation will be a critical strategic priority for the first quarter of 2021 by an increased rate. To the net income of $ 46.2 million increased 19.2 % from the pace scale This limited backlog concentration of COVID studies, we expect continued growth propelled by customer adoption our. Billion for the sales of goods or services deliver against our strategy accelerate 0.37 in the first quarter of 2021 any company whose stock is trading close to 1,018.4.

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