PPD
3Q Revenues: $1.6 billion (+27%)
3Q Earnings: $169.0 million (earnings were $9.1 million 3Q20)
YTD Revenues: $4.5 billion (+36%)
YTD Earnings: $268.0 million (earnings were $58.1 million YTD20)
Comments: Net authorizations growth of 12.7% over third quarter 2020 to $1.4 billion, resulting in a net book-to-bill ratio of 1.19x on a historical basis Ending backlog growth of 20.3% over third quarter 2020 to $9.5 billion on a historical basis. Revenue for the quarter increased 26.5% to $1.6 billion, compared to $1.2 billion for the three months ended September 30, 2020. At the segment level, Clinical Development Services revenue of $1.3 billion up 26% and Laboratory Services revenue of $290.2 million grew 28.9%, each compared to the three months ended September 30, 2020. Revenue for the nine months ended September 30, 2021 increased 36.1% to $4.5 billion, compared to $3.3 billion for the nine months ended September 30, 2020. At the segment level, Clinical Development Services revenue of $3.7 billion up 36.9% and Laboratory Services revenue of $826.4 million grew 32.8%, each compared to the nine months ended September 30, 2020.