Represents the net income tax expense recorded as a result of the base erosion and anti-abuse tax. Syneos Health A releases earnings for Q3 on November 4.Analysts expect earnings per share of $1.32.Go here to follow Syneos Health A stock price i. +1 908 763 3428 ET on February 18, 2021, to discuss its fourth quarter and full year 2020 financial results. Represents non-cash adjustments resulting from the revaluation of deferred revenue and the subsequent elimination of revenue in purchase accounting in connection with business combinations. About Syneos Health Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization purpose-built to accelerate customer success. and Prepares key reports such as annual cost and expense budgets, cost rates, cost and expense . The MarketWatch News Department was not involved in the creation of this content. Scroll. The full 2021 Sustainability Report can be found on the Companys website. to support customers in more than 110 countries. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth . MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) Syneos Health ( Nasdaq:SYNH ), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. Furthermore, the guidance presented below is based on current foreign currency exchange rates, current interest rates, and the Company's expected non-GAAP effective tax rate of approximately 24.0% for the year ending December 31, 2021. The increases in adjusted net income and adjusted diluted earnings per share were primarily due to the increase in adjusted EBITDA, discussed below, and lower interest expense. To learn more about how we are Shortening the distance from lab to life, visit syneoshealth.com or subscribe to our podcast. . Syneos Health will host a conference call at 8:00 a.m. ET Report Spotlights Significant Progress Toward Achieving Company's Environmental,. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law. Visit a quote page and your recently viewed tickers will be displayed here. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Net new business awards were $1,764.1 million and $5,863.1 million for the three and twelve months ended December 31, 2020, representing book-to-bill ratios of 1.55x and 1.33x, respectively. Q3 2022 Syneos Health Inc. Earnings Conference Call. 4.0. Raleigh, NC 27604. incresearch.com. We support a diverse, equitable and inclusive culture. Syneos Health supports a diverse, equitable and inclusive culture that cares for colleagues, customers, patients, communities and the environment. 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. Yes There are 1 helpful reviews 1 No. Syneos Health Expands Partnership with Datavant to Accelerate Delivery of New Therapies to Patients Read the Press Release Syneos Health Releases Annual Sustainability Report Report Spotlights Significant Progress Toward Achieving Company's Environmental, Social and Governance Goals, Including Climate Pledge and DE&I Objectives Read The Report Contact Us. Syneos Health's Annual Report & Profile shows critical . These increases were partially offset by unfavorable impacts from adoption of ASC 606 which delayed the recognition of revenue by $58.2 million compared to revenue that would have been recognized under ASC 605 and reductions in revenue of $13.5 million, due to the fair value adjustments required by purchase accounting. Was this review helpful? We lead with a product development mindset, strategically blending clinical development, medical affairs and commercial capabilities to address modern market realities. 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. Constant currency revenue growth is defined as revenues for a given period restated at the comparative period's foreign currency exchange rates measured against the comparative period's adjusted revenues. Syneos Health brings together approximately 25,000 clinical and commercial minds with the ability to support customers in more than 110 countries. Syneos Health Reports Fourth Quarter and Full Year 2020 Results. As a company purpose-built to challenge the old ways of biopharmaceutical development, the initiatives outlined in our 2021 Sustainability Report are the foundation of who we are as a company from increasing diversity in clinical trials to continuing to build an inclusive culture, added Keefe. Adjusted net income for the three months ended December 31, 2020 increased 7.5% to $116.8 million, resulting in adjusted diluted earnings per share of $1.11, compared to adjusted net income of $108.6 million, or adjusted diluted earnings per share of $1.03 for the three months ended December 31, 2019. Selling, general and administrative expenses were as follows . Supporting inclusivity at all levels including the Syneos Health DE&I Council, the Companys Employee Resource Groups (ERGs) and its recently launched business leader and reverse mentoring programs to promote diverse thinking and provide leadership opportunities for employees at all levels. 1030 Sync Street Suite 700 Morrisville, NC 27560, US Get directions 200 Vesey St 40th Floor New York, NY 10281, US Get directions Employees at Syneos Health Communications Duncan Arbour Digital. Participation in McKinsey and Companys Black Leadership Academy. The Report showcases the Companys continued efforts toward making a positive social impact to achieve its vision Shortening the distance from lab to life. Clinical Solutions net new business awards were $1,299.3 million and $4,698.7 million for the three and twelve months ended December 31, 2020, representing a book-to-bill ratio of 1.52x and1.42x, respectively. All Rights Reserved. MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health(R) (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. "As a company purpose-built to challenge the old ways of biopharmaceutical development, the initiatives outlined in our 2021 Sustainability Report are the foundation of who we are as a company - from increasing diversity in clinical trials to continuing to build an inclusive culture," added Keefe. Together they share insights, use the latest technologies and apply advanced business practices to speed their customers delivery of important therapies to patients. The Report spotlights how the Company and its more than 29,000 employees have acted on their shared purpose to lead with a product development . Salaries at Syneos Health range from an average of $53,190 to $135,559 a year. Minimizing the impacts of climate change by joining more than 300 organizations in signing The Climate Pledge (TCP) with the intent of reaching net zero carbon emissions by 2040. Hands on Art Director on a variety of digital tactics, targeting HCP and Consumer audiences. Syneos Health Annual Report 2020 Form 10-K (NASDAQ:SYNH) Published: February 20th, 2020 PDF generated by stocklight.com . Amounts are estimates with an estimated range of +/- 5% and are presented gross without the benefit of associated income tax deduction. For the three months ended December 31, 2020, GAAP revenue decreased 6.0% to $1,140.0 million and decreased 6.1% compared to the adjusted revenue from the same period in the prior year. As Powerball jackpot hits a near-record $1.5 billion, this Connecticut man warns that playing the lottery can become an addiction, Steve Case says, 'in five years, there won't even be a tech sector'. What recourse do I have? Guidance for Adjusted Diluted EPS is based on an expectation of a fully diluted weighted average share count for the year ending. The company's average rating score is 2.45, and is based on 5 buy ratings, 6 hold ratings, and no sell ratings. Investor.Relations@syneoshealth.com, Press/Media Contact: The Company's guidance takes into account a number of factors, including existing backlog, current sales pipeline, trends in cancellations and delays, and the Companys ForwardBound initiative, which includes expansion of the Syneos Operating Network, process optimization, and automation initiatives. Senior Vice President, Investor Relations Commercial Solutions net new business awards were $464.8 million and $1,164.4 million for the three and twelve months ended December 31, 2020, representing book-to-bill ratios of 1.63x and 1.05x, respectively. "We believe that by diversifying and strengthening our knowledge of real-word challenges, we will create better outcomes for patients worldwide.". Report Spotlights Significant Progress Toward Achieving Companys Environmental, Social and Governance Goals, Including Climate Pledge and DE&I Objectives. Minimizing the impacts of climate change by joining more than 300 organizations in signing The Climate Pledge (TCP) with the intent of reaching net zero carbon emissions by 2040. This decrease was primarily due to the impacts of COVID-19, including the related decline in reimbursable out-of-pocket expenses and the second quarter divestiture of the Companys contingent staffing business, partially offset by revenue growth during the three months ended March 31, 2020. MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. The severity and duration of the COVID-19 pandemic are outside of the Companys control and, given the uncertain nature of the pandemic, could cause the Companys future operating results to be different from our current expectations, particularly if the impact of the pandemic worsens. Income tax expense is calculated and the adjustments are tax-affected at an approximate effective rate of 24.0%, which represents the Company's estimated full year non-GAAP effective tax rate. For the twelve months ended December 31, 2020, Commercial Solutions GAAP revenue decreased 11.6% to $1,109.0 million from the same period in the prior year. This decrease was primarily due to the impacts of elevated cancellations in the first half of 2020, as well as the impacts of COVID-19, including a disproportionate decline in reimbursable out-of-pocket expenses and delays in new project starts. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 The Company defines adjusted net income (including adjusted diluted earnings per share) as net income (including diluted earnings per share) excluding acquisition-related deferred revenue adjustments; acquisition-related amortization; restructuring and other costs; transaction and integration-related expenses; share-based compensation expense; gain or loss on extinguishment of debt; other income (expense), net; the income tax effect of the above adjustments; and the impact of the base erosion and anti-abuse tax. This decrease was driven by revenue declines in both Clinical Solutions and Commercial Solutions, as discussed below. This report is a testament to our collective hard work and determination to be purposeful in all that we do. Collaborating with UX, Copy and Client Services to ensure . The Syneos Health Patient Voice Consortium ensures the patient voice is amplified and central to all of the Company's efforts. GAAP net income for the three months ended December 31, 2020 increased 0.9% to $91.9 million, resulting in diluted earnings per share of $0.87, compared to GAAP net income of $91.1 million, or diluted earnings per share of $0.86, for the three months ended December 31, 2019. How much does Syneos Health pay in bonuses? 2022 Syneos Health. An archived replay of the conference call is expected to be available online atinvestor.syneoshealth.com after 1:00p.m. Adjusted EBITDA for the three months ended December 31, 2020 increased 3.3% to $194.8 million from the same period in the prior year. It is classified as operating in the Scientific Research & Development Services industry. o Annual reports; o Investigator brochures. Note: Revenues for privately held companies are statistical evaluations. The majority of these temporary cost savings measures ended in the third quarter of 2020. ET on February 18, 2021. Download our annual Sustainability Report here: https . Syneos Health (formerly InVentiv Health Incorporated and INC Research) is a NASDAQ listed American multinational contract research organization based in Morrisville, North Carolina. Investor Relations Contact: Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. The Report spotlights how the Company and its more than 29,000 employees have acted on their shared purpose to lead with a product development . The increases in GAAP net income and diluted earnings per share were primarily due to higher income from operations, lower interest expense, and a decrease in other expenses primarily due to lower expense from foreign exchange rate fluctuations, partially offset by a higher income tax expense. 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. Syneos Health employees with the job title Senior Clinical Research Associate (CRA) make the most with an. Also, other companies might calculate these measures differently. 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. The Company is not required to make a mandatory payment against the principal balance of Term Loan A until April 2022 and Term Loan B until maturity in August 2024. Press Release Syneos Health Releases Annual Sustainability Report Published: Oct. 5, 2022 at 7:00 a.m. On November 17, 2020, the Companys Board approved a new stock repurchase program effective January 1, 2021, which succeeded the existing stock repurchase program that expired on December 31, 2020. MORRISVILLE, N.C., Oct 05, 2022 (GLOBE NEWSWIRE via COMTEX) -- As a part of the Syneos Health team, you'll help us deliver results for a rewarding reason - we improve patients' lives around the world. On a constant currency basis, revenue decreased 5.9% compared to the adjusted revenue from the same period in the prior year. We also present adjusted revenue growth in constant currency. Each of the non-GAAP measures noted above are used by management and the Board to evaluate the Company's core operating results because they exclude certain items whose fluctuations from period-to-period do not necessarily correspond to changes in the core operations of the business. . The Company received net proceeds, after deducting offering expenses, of $592.5 million. Further, it spotlights the Companys dedication to reducing its impact on the environment and supporting the shift to a low-carbon economy. 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: acquisition-related deferred revenue adjustments; restructuring and other costs; transaction and integration-related expenses; share-based compensation expense; other income (expense), net; and gain or loss on extinguishment of debt. Inside Syneos Health, Inc.'s 10-K Annual Report: Financial - Expense Highlight. Reviews statistical analysis plans and table/figure/listing specifications for appropriate content, and for grammar, format, and consistency. Syneos Health,Inc. and SubsidiariesConsolidated Statements of Operations(in thousands, except per share data), Syneos Health,Inc. and SubsidiariesConsolidated Balance Sheets(in thousands, except par value), Syneos Health,Inc. and SubsidiariesConsolidated Statements of Cash Flows(in thousands), Syneos Health,Inc. and SubsidiariesReconciliation of GAAP to Non-GAAP Measures(in thousands)(unaudited), Syneos Health,Inc. and SubsidiariesReconciliation of GAAP to Non-GAAP Measures(in thousands, except per share data)(unaudited), Syneos Health,Inc. and SubsidiariesReconciliation of GAAP to Non-GAAPFull Year 2021 Guidance(in millions, except per share data)(Unaudited). We bring together more than 29,000 minds, across more than 110 countries, with a deep understanding of patient and physician behaviors and market dynamics. The live webcast will be available in listen . The pandemic, more than ever, demonstrated why our work is so important, shining a light on the value of clinical trials and the importance of equitable access to medicines, said Michelle Keefe, CEO, Syneos Health. The company specializes in helping companies with late-stage clinical trials. Biostatistics and Statistical Programming, Clinical Development Services Project Management, Scientific and Medical Affairs Advisory Group, Risk and Program Management Advisory Group, Senior Vice President, Investor Relations, Direct costs (exclusive of depreciation and amortization), Selling, general, and administrative expenses, Transaction and integration-related expenses. Syneos Health supports a diverse, equitable and inclusive culture that cares for colleagues, customers, patients, communities and the environment. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. Copyright 2022 MarketWatch, Inc. All rights reserved. Upgrade Your Profile and unlock all your annual reports. The rental income from my apartment goes into our joint savings. On a constant currency basis, revenue decreased 7.0% compared to the adjusted revenue from the same period in the prior year. Publicacin de Syneos Health Syneos Health 375.849 seguidores 17 h Denunciar esta publicacin We believe that weand all companieshave a responsibility to reduce our impact on the planet by aligning our goals and strategies with science and globally recognized best practices. Job Work/Life Balance . For the three months ended December 31, 2020, Commercial Solutions GAAP revenue decreased 9.3% to $284.5 million from the same period in the prior year. MORRISVILLE, N.C. - December 18, 2020 - Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today announced the acquisition of Illingworth Research Group, a leading provider of clinical research home health services. MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. About Syneos Health Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions. Syneos Health Reports Fourth Quarter and Full Year 2020 Results February 18, 2021 PDF Version Highlights GAAP revenue of $1,140.0 millionfor the three months ended December 31, 2020, representing a sequential increase of 3.7% compared to the three months ended September 30, 2020. 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. Q2 2022 Syneos Health Inc. Earnings Conference Call. Contact the source provider Comtex at editorial@comtex.com. The Report spotlights how the Company and . We lead with a product development mindset, strategically integrating clinical development, medical affairs and commercial capabilities to address modern market realities. COMTEX_415957182/2471/2022-10-05T07:00:03. This has gone on too long: The bank paid itself $18,000 in fees. "The pandemic, more than ever, demonstrated why our work is so important, shining a light on the value of clinical trials and the importance of equitable access to medicines," said Michelle Keefe, CEO, Syneos Health. Is there a problem with this press release? The Company continues to advance external and internal initiatives associated with achieving its Vision - Shortening the Distance from Lab to Life(R). Sep 6 Congratulations to our very own Baba Shetty for being recognized as the 2022 In January 2018 INC Research acquired inVentiv Health, the parent company of a subsidiary, Syneos, and the resulting company was named . On a constant currency basis, revenue decreased 11.7% compared to the GAAP revenue from the same period in the prior year. 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. Investors are encouraged to review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP measures included in this press release and the accompanying tables. . Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. 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