ICON Reports Record Net Business Wins and Margin Expansion in Q3 2026
ICON (ICLR) reported third-quarter 2026 results characterized by record net business wins of $3.15 billion, a 51% increase year-over-year. While total revenue saw a slight year-over-year decline of 2.9% to $2,024.8 million due to foreign exchange headwinds and previous book-to-bill cycles, the company achieved sequential growth in Adjusted EBITDA and margins through improved business mix and cost management. The company's backlog grew to $24.5 billion, supported by a strong net book-to-bill ratio of 1.56x. Management highlighted significant operational efficiencies driven by digital tools, including a 28% reduction in programming cycle times. Looking ahead, ICON updated its full-year revenue guidance upward to $8.1 billion–$8.2 billion, citing higher anticipated pass-through activity.
Tickers: $ICLR
Topics: earnings report guidance net business wins revenue share repurchases