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Financial Report: PPD

Clinical Development Services revenue up 19% to $1.0 billion in the quarter.

By: Contract Pharma

Contract Pharma Staff

PPD

3Q Revenues: $1.2 billion (+21%)

3Q Earnings: $9.1 million (-45%)

YTD Revenues: $3.3 billion (+11%)

YTD Earnings: $58.1 million (+69%)

Comments: Clinical Development Services revenue was $1.0 billion in the quarter, up 19% and Laboratory Services revenue was $225.2 million, up 27%. Net authorizations of $1.2 billion, representing 33% growth over third quarter 2019 and resulting in a net book-to-bill ratio of 1.35x on a historical basis. Ending backlog of $7.9 billion, representing 16% growth over third quarter 2019.

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