PRA Health Sciences: Q2 Earnings Insights

Shares of PRA Health Sciences PRAH rose 1.24% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 29.51% year over year to $0.86, which beat the estimate of $0.82.

Revenue of $729,891,000 decreased by 4.38% from the same period last year, which beat the estimate of $716,720,000.

Guidance

PRA Health Sciences Lowers FY2020 Adj EPS Guidance from $5.77-5.97 to $4.35-4.55 vs $4.31 Est; Lowers FY2020 Sales Guidance from $3.23B-3.36B to $3.07B-3.13B vs $3.07B Est

Technicals

52-week high: $113.31

52-week low: $58.67

Price action over last quarter: Up 25.57%

Company Overview

PRA Health Sciences is a global contract research organization that provides drug development and clinical trial services to pharmaceutical and biotechnology firms. Its services run from early- to late-stage clinical trial outsourcing with varying levels of support, including one-off specialized staffing services to strategic partnerships where PRA handles nearly all aspects of the trial. In 2017, PRA acquired Symphony Health, a healthcare data and analytics provider.