Syneos Health Reports Mixed Q4 Earnings, Provides FY22 Guidance

Syneos Health Inc's SYNH Q4 revenue increased 20.5% on a reported basis and 20.8% on a constant currency (CC) basis to $1.37 billion, missing the consensus of $1.41 billion.

  • Clinical Solutions revenue increased 20.7% (+21% CC) to $1.04 billion. Acquisitions contributed approximately 1,000 basis points to Clinical Solutions' reported revenue growth. 
  • Commercial Solutions revenue increased 19.8% (+20.2% CC) to $330.9 million. The divestiture of medication adherence resulted in an approximate 300 basis point headwind to Commercial Solutions' reported revenue growth.
  • Adjusted EBITDA of $237.0 million increased 21.6% Y/Y.
  • The Company posted adjusted EPS of $1.48, +33.3% Y/Y, beating the consensus of $1.43.
  • Net new business awards (Excluding reimbursable out-of-pocket expenses) reached 1.32 billion.
  • Guidance: Syneos projects FYY22 sales of $5.6 billion - $5.75 billion compared to $5.7 billion consensus, with adjusted EPS of $4.98 - $5.24 vs. $5.19 consensus.
  • The Company expects adjusted EBITDA of $840 million - $880 million.
  • Price Action: SYNH shares closed at $83.37 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsGuidanceHealth CareGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!