Strong Long-term Potential: Syneos Health remains confident about the long-term strength of its business. The clinical book-to-bill ratio for the reported quarter was 1.22 times, including reimbursable expenses and the impact of related backlog adjustment, which resulted in a trailing 12-month book-to-bill ratio of 1.07 times. The total growth includes a 100-basis-point contribution from acquisitions and a 240-basis-point headwind from reimbursable expenses, consistent with the updated expectations reflected in the guidance.
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The upside resulted from balanced growth in the company’s full service and FSP portfolios, including strength in the oncology business. Expansion of both margins is an added advantage.įurther, the raised adjusted earnings per share guidance for 2022 instill investors’ confidence.Ĭlinical Solutions Arm Grows: In the first quarter, the Clinical Solutions segment recorded revenue growth of 8.4% year over year on a reported basis and 9.6% at CER. Growth in the Commercial Solutions arm was led by broad-based growth in Deployment Solutions and consulting. Robust performance by the Clinical Solutions and Commercial Solutions segments is also encouraging. The year-over-year improvement in earnings and revenues are impressive.
Impressive Q1 Results: Syneos Health’s first-quarter earnings beat the Zacks Consensus Estimate.
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