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CINCINNATI - Medpace Holdings, Inc. (NASDAQ:MEDP) reported fourth-quarter earnings that beat analyst expectations, but its shares plunged 8.3% in after-hours trading Monday as the company’s 2025 revenue guidance fell short of estimates.
The contract research organization posted adjusted earnings per share of $3.67 for the fourth quarter, surpassing the analyst consensus of $2.94. Revenue came in at $536.6 million, slightly above the $534.86 million analysts had projected and up 7.7% from $498.4 million in the same quarter last year.
However, Medpace’s outlook for 2025 disappointed investors. The company forecasts full-year revenue between $2.11 billion and $2.21 billion, below the $2.238 billion analysts were expecting. This guidance implies growth of 0.0% to 4.8% over 2024 revenue of $2.109 billion.
For the fourth quarter, Medpace reported net new business awards of $529.7 million, down 13.8% year-over-year, resulting in a net book-to-bill ratio of 0.99x. The company’s backlog increased 3.2% to $2.90 billion as of December 31, 2024.
Medpace also announced its board approved a $600 million increase to its stock repurchase program. The company repurchased 527,160 shares at an average price of $330.43 per share for a total of $174.2 million during the fourth quarter.
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