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. 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. The underlying adjusted free cash flow result in the first nine months of the year was $318M or approximately $3.05 per share. Shares of Syneos Health (SYNH) fell 17.6% today following the release of the company's Q2 results this morning. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law. 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. The company's stock closed at $65.20 a share, down from $79.14 on Monday. Members of European Small-Cap Ideas get exclusive ideas and guidance to navigate any climate. 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. 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. June 7, 2022. Please check your download folder. 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. Excluding reimbursable out-of-pocket expenses, $323.0 million for the first quarter, year-over-year growth of 11.6% and a book-to-bill ratio of 1.17x, and $1,229.0 million for the trailing twelve months, year-over-year growth of 23.7% and a book-to-bill ratio of 1.14x. 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. revenue growth overall, not only for the remainder of 2022 . We lead with a product development mindset, strategically blending clinical development, medical affairs and commercial capabilities to address modern market realities. The guidance is based upon the Company's estimated number of weighted average diluted shares outstanding and does not take into account any share repurchases beyond the first quarter of 2022. MORRISVILLE, N.C. - January 11, 2022 - Syneos Health . Amounts are estimates with an estimated range of +/- 5% and are presented gross without the benefit of associated income tax deduction. 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. Values delayed up to 15 minutes . Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. This statistic depicts the yearly revenue, globally, for Syneos Health, Inc. from 2013 to 2021. 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 . The bottom line shows a net income of $78.2M in the third quarter, which works out to roughly $0.76 per share. Syneos Health has 5 employees across 91 locations and $5.21 b in annual revenue in FY 2021. Trends for 2022 focus on new models for creating stakeholder value, the importance of prioritizing human relationships at every healthcare encounter and strengthening technology-enabled insights to speed the delivery of life-changing therapies to patients. . Posted by Defense World Staff on Oct 16th, 2022. 1. As of Oct 18 2022. The key trends for the year, as predicted by Syneos, revolve around three core themes, value creation, human centricity, and industry change. Restructuring and other costs consist primarily of severance costs associated with a reduction/optimization of our workforce in line with our expectations of future business operations and termination costs in connection with abandonment and closure of redundant facilities and other lease-related charges. En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. 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. To get a better background overview of the company, I'd suggest reading some of my older articles on the company. As a group, research analysts forecast that Syneos Health, Inc. will post 4.52 EPS for the current fiscal year. Do the numbers hold clues to what lies ahead for the stock? 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. 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. 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 . 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! Morrisville, NC 27560. Revenue: Unknown / Non-Applicable. Syneos Health Reports First Quarter 2022 Results. 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 is delivering on its promises as the company reports strong revenue and free cash flow growth. Our total revenue for the first . , and earlier this year, SYNH confirmed it was. 2022 2021 Revenue . Syneos Health Reports First Quarter 2022 Results. As I'm a long-term investor, I'll highlight some stockpicks which will have a 5-7 year investment horizon. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. The Company presents EBITDA and adjusted EBITDA because it believes they are useful metrics for investors as they are commonly used by investors, analysts and debt holders to measure the Company's ability to fund capital expenditures and meet working capital requirements. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 2022 Syneos Health. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. 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. To learn more about how we are Shortening the distance from lab to life, visit syneoshealth.com or subscribe to our podcast. Slectionnez Grer les paramtres pour grer vos prfrences. Responsible for the enterprise data and analytics landscape for Syneos Health. This means the combination of capex + lease payments of under $43M is about 1/4th of the total depreciation and amortization expenses. We bring together approximately 28,000 clinical and commercial minds with the ability to support customers in more than 110 countries. Clinical Solutions revenue increased 8.4% on a reported basis and 9.6% on a constant currency basis to $1,018.4 million. The free cash flow is roughly twice as high compared to the net income due to lower capex requirements and high share-based compensation elements. The Company's full year 2022 guidance is outlined below: Syneos Health will host a conference call at 8:00 a.m. Given this limited backlog concentration of COVID studies, we expect our robust revenue growth in 2022 will be driven by the strength of . Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. 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. ET on April 29, 2022. 19h ago 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.. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. 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. Clinical Solutions net new business awards and book-to-bill ratios: . 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. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income . 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. Adjusted EBITDA for the three months ended March 31, 2022, increased 14.9% to $173.6 million from the same period in the prior year. Events that impact m arkets, s tocks, IPOs, c ommodities, f orex from . But for Syneos Health head of strategy Maria Tender, one such event last July became her favorite moment of the year. 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. Represents the income tax effect of the non-GAAP adjustments made to arrive at adjusted net income using an estimated effective tax rate of approximately 23.5% for the three months ended March 31, 2022, and 24.0% for the three months ended March 31, 2021. To participate via phone, please register in advance at this link. Net Income (2021) XXX 21.8% . Ronnie Speight, Senior Vice President, Investor Relations Cash flows provided by operating activities were $70.9 million during the three months ended March 31, 2022. Syneos Health, inc (SYNH-1.15%) Q2 2021 Earnings Call . 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. 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%. Fax: +1 919 876 9360. 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. 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. Appropriate Acceleration in Clinical Development. That's a good result as this means Syneos reported a Q3 net income which equals the . An awful day for the stock market leads to an overblown selloff and a great buying opportunity in shares of Syneos Health (SYNH). "Strong . 2022 Syneos Health. Corporate Headquarters. Syneos Health is a biopharmaceutical contract research organization that operates . If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 24 min read. Do the numbers hold clues to what lies ahead for the stock? Represents non-cash share-based compensation expense related to awards granted under equity incentive plans. Phone: +1 919 876 9300. Syneos Health Inc expected to post earnings of $1.32 a share - Earnings Preview. New commercial models will have two key dimensions: The human and the digital. That's okay but it doesn't really explain why the stock is trading close to $100/share. Please disable your ad-blocker and refresh. 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. To learn more about how Syneos Health is shortening the distance from lab to life, visit syneoshealth.com or subscribe to our podcast. Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. . The Zacks Consensus Estimate for its 2022 revenues is pegged at . Syneos Health supports a diverse, equitable and inclusive culture that cares for colleagues, customers, patients, communities and the environment. 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. Syneos Health issued an update on its FY 2022 earnings guidance on Tuesday, August, 9th. Get The Latest SYNH Stock Forecast, Price Target, Earnings Estimates, Headlines, Short Interest at MarketBeat. Size: 10000+ Employees. We should consider both to be non-recurring items as the 'other expenses' in 2020 were related to the costs of a debt refinancing, while this year's 'other income' was caused by FX changes. As Industry Dynamics Shift, Smaller Biotechnology Companies Will Continue to Drive Dealmaking in 2022. In 2022, the transformation accelerates. Back end administrative functions, automated processing . I have no business relationship with any company whose stock is mentioned in this article. Advancing DE&I inside biopharma organizations and among stakeholder populations will be a critical strategic priority for the industry in 2022 and beyond. 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. Morsa Images/DigitalVision via Getty Images. Syneos Health Inc expected to post earnings of $1.32 a share - Earnings Preview. The 9M 2021 net income was approximately $159M, an increase of 58% from 9M 2020, and the EPS was $1.53. Simplifying the complex for patients, care providers, scientists, customers and every employee is essential, said Alistair Macdonald, CEO, Syneos Health. Human Centricity: Prioritizing the personal relationships at the core of every healthcare interaction and strengthening them with tech-enabled insights. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Revenue (2021) $5.2B 18.1% (2021 vs 2020) EPS XXX. 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. Syneos Health, Inc. (NASDAQ:SYNH - Get Rating) was the recipient of a significant decline in short interest during the month of September. Acquisitions contributed approximately 100 basis points to Clinical Solutions reported revenue growth. Furthermore, the guidance presented below is based on foreign currency exchange rates as of March 31, 2022, expected interest rates, and the Company's expected non-GAAP effective tax rate of approximately 23.5% for the year ending December 31, 2022. All Rights Reserved. 28,000 (2022) . . 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. I am not receiving compensation for it (other than from Seeking Alpha). The . Syneos Health has set its FY22 guidance at $4.97-5.11 EPS and its FY 2022 guidance at $4.97-$5.11 EPS.Individual that are interested in registering for the company's earnings conference call can . Syneos Health Reports First Quarter 2022 Results | News. 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. 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. Prior period segment results have been recast to conform to insignificant changes to management reporting in 2022. . Health 1030 Sync Street. Learn more about Syneos Health. Estimate Trend. 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. Specifically, adjusted earnings of $1.25 per share were up 28.9% from the prior . Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. Commercial Solutions revenue increased 18.1% on a reported basis and 18.9% on a constant currency basis to $317.9 million. 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. Although the material conditions during the pandemic have strained all parts of the healthcare industry, innovation has thrived [] Syneos Health (NASDAQ:SYNH) is scheduled to announce Q3 earnings results on Friday, November 4th, before market open.The consensus EPS Estimate is $1.32 (+8.2% Y/Y) and the consensus Revenue . 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. 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. Highlights 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.Clinical Solutions net new business awards . Additionally, the share-based compensation weighs on the net income but as that isn't a cash expense, it has no impact on the cash flow result of the company. Syneos Health Inc company profile analysis with the premuim data - Globaldata . The pandemic forced fast-moving innovation, prompting biopharma organizations around the world to validate real-time insights and learnings that are now fueling industry change and value creation.. 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. News. Syneos Health (Nasdaq: SYNH) is the only fully integrated biopharmaceutical solutions organization purpose-built to accelerate customer success. I wrote this article myself, and it expresses my own opinions. We zoom in on capital gains and dividend income in European small-caps. I currently don't have a long position in Syneos Health and that's a regrettable decision. Despite reporting revenue of . News . Loss on extinguishment of debt is associated with debt prepayments and refinancing activities. Industry Change: Stepping up to address social policy public health issues head-on, leading by example in a newly dynamic environment for innovation. 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. 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. Syneos Health (SYNH) delivered earnings and revenue surprises of 5.21% and 0.78%, respectively, for the quarter ended March 2022. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. 00:08 Good morning and welcome to the Syneos Health First Quarter 2022 Earnings Conference Call. GAAP net income of $46.2 million increased 19.2% from $38.7 million in the first quarter of 2021. Syneos Health Human Resources Phone Number. Syneos Health annual/quarterly revenue history and growth rate from 2012 to 2022. The Company's guidance takes into account a number of factors, including existing backlog, current sales pipeline, trends in cancellations and delays, trends in reimbursable out-of-pocket expenses, and the Companys ForwardBound initiative, which includes expansion of the Syneos Operations Network, process optimization, and automation initiatives. Syneos Health ( NASDAQ:SYNH - Get Rating) had its price target decreased by Deutsche Bank Aktiengesellschaft from $99.00 to $77.00 in a research . Syneos reported a very impressive revenue increase in the third quarter when compared to the third quarter of last year, but this obviously was mainly related to Q3 2020 being rather weak due to the impact of the COVID pandemic. And that is very well deserved as the company is executing on its growth plans while it is spending the incoming free cash flow on a combination of shareholder rewards (by buying back stock) and M&A to further boost its presence. 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. 1030 Sync Street Morrisville, NC 27560. Syneos Health annual/quarterly revenue history and growth rate from 2012 to 2022. +1 919 745 2745, Executive Director, External Communications The fund owned 418 shares of the company's stock after purchasing an additional 232 shares during the quarter. 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. Syneos Health Reports First Quarter 2022 Results. So on a normalized basis, both elements should be zero as they are per definition non-recurring events. Syneos Health revenue for the twelve months ending June 30, 2022 was $5.419B, a 14.55% increase 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. Income tax expense is calculated and the adjustments are tax-affected at an approximate effective rate of 23.5%, which represents the Company's estimated full year non-GAAP effective tax rate. 5. During the three months ended March 31, 2022, the Company drew $130.0 million on its revolving credit facility to partially fund share repurchases, leaving a remaining capacity of $455.8 million as of March 31, 2022. where our leaders will share their perspectives on these trends. We lead with a product development mindset, strategically blending clinical development, medical affairs and commercial capabilities to address modern market realities. Looking for a helping hand in the market? Syneos Health (Nasdaq:SYNH) is the only biopharmaceutical solutions . 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. ET on April 29, 2022, to discuss its first quarter 2022 financial results. 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. 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.
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