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CINCINNATI - Medpace Holdings, Inc. (NASDAQ:MEDP) saw its shares surge 45% after reporting second-quarter financial results that significantly exceeded analyst expectations and raising its full-year outlook well above consensus estimates.
The clinical contract research organization reported second-quarter revenue of $603.3 million, representing a 14.2% increase from $528.1 million in the same period last year and substantially beating the analyst consensus of $538.81 million.
Adjusted earnings per share came in at $3.10, surpassing analyst estimates of $2.98. The company’s stock skyrocketed following the announcement, reflecting strong investor confidence in its performance and outlook.
The company reported net new business awards of $620.5 million for the quarter, a 12.6% increase from the prior-year period, resulting in a book-to-bill ratio of 1.03x. EBITDA increased 16.2% to $130.5 million, with EBITDA margin improving to 21.6% from 21.3% in the same quarter last year.
Looking ahead, Medpace significantly raised its full-year 2025 revenue guidance to a range of $2.42 billion to $2.52 billion, representing growth of 14.7% to 19.5% over 2024 and well above the analyst consensus of $2.185 billion. The company also forecast full-year EBITDA between $515 million and $545 million.
During the quarter, Medpace continued its share repurchase program, buying back approximately 1.75 million shares at an average price of $295.59 per share for a total of $518.5 million. As of June 30, the company had $826.3 million remaining under its authorized repurchase program.
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