Medpace Holdings Inc

MEDP: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$311.00	Fcvqlm	Pxcpdgcn

Medpace Earnings: Cancellations Cause Near-Term Headwinds; Positive Long-Term Outlook

Rachel Elfman

Jul 25, 2024

Medpace reported mixed second-quarter results, as revenue increased 14.6% from the prior-year period but net new business awards decreased 4% due to elevated cancellations, which were double the quarterly average of 4.5% in 2023. This resulted in a book-to-bill ratio of 1.04 in the second quarter compared with 1.2 in the first quarter of 2024. However, management raised its 2024 earnings per share guidance by 4% at the midpoint, which signals confidence in its profitability and industry-leading organic revenue growth.

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