Tuesday, October 25, 2022 10:21:27 AM
$214.51 +55.87 (+35.22%)
As of Oct-25-202210:10:18 AM ET
https://stockcharts.com/h-sc/ui?s=MEDP
Contract Research Organization Medpace Lifts FY22 Guidance, Highlights FY23 Outlook
By Benzinga — 7:29 AM ET 10/25/22
Medpace Holdings Inc's (NASDAQ:MEDP) Q3 revenue increased 29.8% Y/Y to $383.7 million, beating the consensus of $357.18 million, representing a backlog conversion rate of 17.7%.
On a constant currency organic basis, Q3 revenue was up 31.9%.
As of September 30, 2022, Backlog grew 20.9% to $2.2 billion. Net new business awards were $470.9 million, representing a net book-to-bill ratio of 1.23x.
Q3 EBITDA increased 48.5% to $89.3 million, or 23.3% of revenue, compared to $60.1 million, or 20.3% of revenue, a year ago.
Medpace posted an EPS of $2.05, up from $1.29 a year ago and beating the consensus of $1.47.
Financial Guidance: Medpace raised FY22 sales guidance to $1.44-$1.46 billion, versus the prior guidance of $1.405-$1.435 billion and the consensus of $1.41 billion.
EBITDA is expected to be $302-$310 million, versus the previous guidance of $268-$280 million
Medpace expects EPS of $6.88-$7.00 compared to prior guidance of $6.07-$6.36 and the consensus of $6.15.
For FY23, the company forecasts sales of $1.68-$1.74 billion, with EBITDA of $325-$350 million.
Price Action: MEDP shares traded higher by 28.13% at $203.26 in premarket on the last check Tuesday.
Company Profile
Sector Health Care
Industry Life Sciences Tools & Services
Company Location Cincinnati, OH
Medpace Holdings, Inc. provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services. In addition, it offers bio-analytical laboratory services, clinical human pharmacology, imaging services, and electrocardiography reading support for clinical trials. The company was founded in 1992 and is based in Cincinnati, Ohio.
Recent MEDP News
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- Medpace Holdings, Inc. to Report First Quarter 2024 Financial Results on April 22, 2024 • Business Wire • 03/28/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 09:12:44 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 04:50:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 09:42:41 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 11:34:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:32:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:25:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:17:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 09:14:51 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 09:01:29 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 08:46:16 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/28/2024 07:07:07 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 09:06:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/12/2024 09:15:53 PM
- Medpace Holdings, Inc. Reports Fourth Quarter and Full Year 2023 Results • Business Wire • 02/12/2024 09:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/12/2024 09:06:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:21:59 PM
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- Medpace Holdings, Inc. to Report Fourth Quarter and Fiscal Year 2023 Financial Results on February 12, 2024 • Business Wire • 01/03/2024 09:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/18/2023 10:03:14 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/15/2023 07:34:44 PM
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