Recap: PPD Q2 Earnings

Shares of PPD PPD were flat in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 56.00% year over year to $0.39, which beat the estimate of $0.33.

Revenue of $1,575,000,000 rose by 55.79% year over year, which beat the estimate of $1,320,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Price Action

Company's 52-week high was at $46.63

Company's 52-week low was at $28.00

Price action over last quarter: down 0.30%

Company Description

PPD is a global contract research organization that provides clinical trial and laboratory services to pharmaceutical, device, and diagnostic firms. The clinical development services segment offers outsourced trial services, spanning early- and late-stage trials, as well as peri- and post-approval trials, and the laboratory services segment includes both advanced lab testing and central lab services. The company was taken private in 2011 and went public again in 2020.. Thermo Fisher Scientific announced it will acquire PPD for $17.4 billion, which is scheduled to close by the end of 2021.