Adjusted diluted earnings per share of $1.01 increased 27.8% year-over-year. The live webcast will be available in listen-only mode in the Events section of the Company's Investor Relations website at investor.syneoshealth.com. Adjusted net income for the three months ended March 31, 2022, increased 26.3% to $105.0 million, resulting in adjusted diluted earnings per share of $1.01, compared to adjusted net income of $83.1 million, or adjusted diluted earnings per share of $0.79, for the three months ended March 31, 2022. So on a normalized basis, both elements should be zero as they are per definition non-recurring events. In the span of a year, we went from unprecedented hiring levels across biopharma in response to the urgent need to support public safety, to many organizations being short staffed against changing business priorities. The Company defines adjusted EBITDA as EBITDA, further adjusted to exclude expenses and transactions that the Company believes are not representative of its core operations, namely: restructuring and other costs; transaction, integration-related and other expenses; share-based compensation expense; other income (expense), net; and gain or loss on extinguishment of debt. Human Centricity: Prioritizing the personal relationships at the core of every healthcare interaction and strengthening them with tech-enabled insights. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law. These trends are driving much needed change including exploring new models for enhancing stakeholder value, accelerating digital transformation and advancing DE&I to propel innovation.. 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. Acquisitions contributed approximately 100 basis points to Clinical Solutions reported revenue growth. 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. I was wrong as the share price started to increase almost right out of the gate and is now trading at almost $100/share, up 50%. The COGS increased by about 25% to $1.03B, but other operating expenses remained relatively stable: the SG&A expenses did increase but at a pace of less than 20% while the depreciation and amortization expenses obviously remain rather fixed and are usually not impacted by changes in the revenue. Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable, unbilled services, and deferred revenue, Net cash provided by operating activities, Payments related to acquisitions of businesses, net of cash acquired, (Investments in) proceeds from unconsolidated affiliates, Proceeds from accounts receivable financing agreement, Payments of contingent consideration related to acquisitions, Payments related to tax withholdings for share-based compensation, Net change in cash, cash equivalents, and restricted cash, Transaction, integration-related and other expenses (c), Transaction, integration-related, and other expenses (c), Income tax adjustment to normalized rate (g), Transaction, integration-related and other expenses, GAAP net income and diluted earnings per share, Transaction, integration-related and other expenses (a), Income tax adjustment to normalized rate (b), Adjusted net income and adjusted diluted earnings per share (c). Health 1030 Sync Street. Approximately 1.3% of the shares of the stock are short sold. 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. . GAAP net income of $46.2 million increased 19.2% from $38.7 million in the first quarter of 2021. 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.Clinical Solutions net new business awards and book-to . 5. Syneos Health Reports First Quarter 2022 Results. Disclosure: 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. SYNH (Syneos Health) WACC % as of today (November 01, 2022) is 10.24%. 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. Clinical Solutions revenue increased 8.4% on a reported basis and 9.6% on a constant currency basis to $1,018.4 million. Including reimbursable out-of-pocket expenses, 2.5% in Clinical Solutions and 21.7% in Deployment Solutions as of March 31, 2022. Syneos Health supports a diverse, equitable and inclusive culture that cares for colleagues, customers, patients, communities and the environment. Biostatistics and Statistical Programming, Clinical Development Services Project Management, Scientific and Medical Affairs Advisory Group, Risk and Program Management Advisory Group, Commercial Solutions - Deployment Solutions, Direct costs (exclusive of depreciation and amortization), Selling, general, and administrative expenses. Syneos Health annual/quarterly revenue history and growth rate from 2012 to 2022. The company's stock closed at $65.20 a share, down from $79.14 on Monday. Revenue increased 2% to an MM+M-estimated $266 million. 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 . Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. "Our second quarter revenue and profitability reflect the strength of our strategy and our people's skill in . Commercial Solutions revenue increased 18.1% on a reported basis and 18.9% on a constant currency basis to $317.9 million. Syneos Health, Inc. is a key global biopharmaceutical solutions company offering a broad range of clinical and commercial facilities. Syneos Health issued an update on its FY 2022 earnings guidance on Tuesday, August, 9th. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. As I'm a long-term investor, I'll highlight some stockpicks which will have a 5-7 year investment horizon. Omnichannel engagement will be used to amplify critical human interactions and deliver powerful insights on when and how to act most efficiently in all channels. . There's a simple explanation for that. The Zacks Consensus Estimate for its 2022 revenues is pegged at . Adjusted diluted earnings per share of $1.01 increased 27.8% year-over-year. Represents the amortization of intangible assets associated with acquired backlog, customer relationships, trade names and trademarks, intellectual property, patient communities, and acquired technologies. New Era of Biopharma Product Development to be Fueled by Value Creation, Human Centricity and Industry Change. Industry Change: Stepping up to address social policy public health issues head-on, leading by example in a newly dynamic environment for innovation. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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. During the three months ended March 31, 2022, the Company repurchased $150.0 million of common stock and has $32.5 million of remaining share repurchase authorization available through December 31, 2022. WACC % explanation, calculation, historical data and more Contact Us. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Syneos Health (SYNH) delivered earnings and revenue surprises of 5.21% and 0.78%, respectively, for the quarter ended March 2022. 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. MORRISVILLE, N.C. - January 11, 2022 - Syneos Health . Health Contact Us Syneos Health. Please check your download folder. 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. Get to know Syneos Health We are the only full-service biopharmaceutical solutions company in the world. From patient-powered design to accelerated integration across the . Represents fees associated with acquisitions, stock repurchases and secondary stock offerings, debt placement and refinancings, and other corporate transactions costs. Syneos Health, Inc. MORRISVILLE, N.C., Oct. 21, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, will release its third . 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. 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. Specifically, adjusted earnings of $1.25 per share were up 28.9% from the prior . Syneos Health Reports First Quarter 2022 Results. All Rights Reserved. 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. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The company majorly serves customers in the biopharmaceutical, biotechnology and medical device industries. Given this limited backlog concentration of COVID studies, we expect our robust revenue growth in 2022 will be driven by the strength of . Engaging the Burned-Out Healthcare Professional, A profession that already faced dangerous levels of burnout has suffered even more over the last two years fighting a pandemic, lacking access to patients, a short supply of critical resources and isolation from peers. Syneos Health (Nasdaq:SYNH) is the only biopharmaceutical solutions . That's a good result as this means Syneos reported a Q3 net income which equals the . Value Creation: Ensuring that data and insights flow across the product lifecycle to deliver on innovations promise, creating greater value for all stakeholders. The key trends for the year, as predicted by Syneos, revolve around three core themes, value creation, human centricity, and industry change. Commercial Solutions book-to-bill ratio excluding reimbursable out-of-pocket expenses, represents Commercial Solutions net new business awards, excluding reimbursable out-of-pocket expenses, divided by Commercial Solutions revenue, excluding reimbursable out-of-pocket expenses, in each case for the respective period. ET on April 29, 2022. 2022 Syneos Health. From patient-powered design to accelerated integration across the product lifecycle, this years Trends report empowers organizations to be catalysts for change by anticipating whats to come. 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. Members of European Small-Cap Ideas get exclusive ideas and guidance to navigate any climate. News. An archived replay of the conference call is expected to be available online at investor.syneoshealth.com after 1:00p.m. GAAP diluted earnings per share of $0.44 increased 18.9% from $0.37 in the first quarter of 2021. Our product development expertise is enabling us to deliver against our strategy and accelerate customer success. Syneos Health Inc company profile analysis with the premuim data - Globaldata . Adjustments to reconcile net income to net cash provided by operating activities: Provision for (benefit from) deferred income taxes, Fair value adjustment of contingent obligations. The free cash flow is spent on share buybacks and M&A, which creates a great set-up for the future. Estimate Trend. In addition to the financial measures prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), this press release contains certain non-GAAP financial measures, including adjusted net income (including adjusted diluted earnings per share), EBITDA, adjusted EBITDA, and non-GAAP effective income tax rate. 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. Notably, the push to improve Diversity, Equity & Inclusion (DE&I) is changing how biopharma engages communities to improve access and how the industry builds organizations and teams. . 28,000 (2022) . Corporate Headquarters. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. 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. 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. We bring together approximately 28,000 clinical and commercial minds with the ability to support customers in more than 110 countries. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I am not receiving compensation for it (other than from Seeking Alpha). I currently don't have a long position in Syneos Health and that's a regrettable decision. 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. The 9M 2021 net income was approximately $159M, an increase of 58% from 9M 2020, and the EPS was $1.53.
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