On January 12, 2022 ICON plc, (NASDAQ: ICLR), a world-leading clinical research organisation powered by healthcare intelligence, reported its financial guidance for the year ended December 31, 2022 (Press release, ICON, JAN 12, 2022, View Source [SID1234605455]). For the full year 2022, revenue is expected to be in the range of $7,770 – $8,050 million, representing growth of 43 – 46% and adjusted earnings per share is expected to be in the range of $11.55 – $11.95, representing growth of 21 – 23%, over Full Year 2021 revenue and adjusted earnings per share guidance, respectively x. Adjusted earnings per share to exclude amortization, stock compensation, foreign exchange and transaction-related / integration-related adjustments.

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CEO Steve Cutler commented, "As the world’s largest and most comprehensive CRO, ICON is well positioned to lead the market as the healthcare intelligence partner of choice in clinical development. We saw strong demand from customers that resulted in a trailing twelve month book to bill of 1.3x and total backlog of $18.6 billion at the end of the third quarter 2021. With our solid performance in 2021 coupled with continued strength in the broader industry environment, we expect growth of 43 – 46% in revenue to a range of $7,770 – $8,050 million and adjusted earnings per share to increase by 21 – 23% to a range of $11.55 – $11.95 for the full year 2022."

The full year 2022 financial guidance assumes:

US dollar to Euro exchange rate of $1.15.
An effective tax rate of circa 16.5%.
Days Sales Outstanding of circa 25 – 30 days.
Circa $1bn free cash flow and capital expenditures of circa $150 million.
No share repurchase or M&A activity included in the above guidance.
With respect to 2021, the company reaffirmed its current guidance of revenue in the range of $5,430 – $5,530 million and adjusted earnings per share in the range of $9.55 – $9.75.