Welcome to our dedicated page for Medpace Holdings news (Ticker: MEDP), a resource for investors and traders seeking the latest updates and insights on Medpace Holdings stock.
Medpace Holdings, Inc. (symbol: MEDP) is a leader in research-based drug development, renowned for its therapeutically focused approach. As a full-service global clinical research organization (CRO), Medpace partners strategically with select sponsors to streamline the path to drug approval, ensuring efficiency and cost-effectiveness. Headquartered in Cincinnati, the company extends its operations across six continents, encompassing Europe, Asia, South America, Africa, and Australia. With a workforce exceeding 5,400 employees spread across 40 countries, Medpace delivers customized solutions to both small and midsize biotechnology firms, as well as full-service offerings for global pharmaceutical companies.
Founded over 30 years ago, Medpace leverages its extensive medical and regulatory expertise to offer strategic insights and efficiencies at every phase of clinical trials. The company’s comprehensive services include bioanalytical laboratory services and advanced imaging capabilities, aimed at supporting the complex demands of drug development. Medpace’s commitment to high-quality service positions it as a steward of its clients’ drugs, from early-stage development through to final approval.
In 2014, Medpace was acquired by Cinven, a global private equity firm, for $915 million, with Cinven ending its investment in 2018. Despite this change in ownership, Medpace's dedication to advancing medical research and drug development remains steadfast. The company continues to forge strong partnerships and deliver superior results tailored to the unique needs of its clients.
Medpace Holdings, Inc. (MEDP) reported strong financial results for Q2 2024. Revenue increased 14.6% to $528.1 million, with a backlog conversion rate of 18.2%. GAAP net income rose to $88.4 million, or $2.75 per diluted share, up from $61.1 million in Q2 2023. The company's net income margin improved to 16.7%, while EBITDA grew 34.2% to $112.3 million.
Medpace's backlog increased 13.7% to $2,924.9 million, and net new business awards were $551.0 million, resulting in a net book-to-bill ratio of 1.04x. The company updated its 2024 financial guidance, forecasting revenue between $2.125 billion and $2.175 billion, representing 12.7% to 15.3% growth over 2023.
Medpace Holdings will announce its Q2 2024 financial results post-market on July 22, 2024.
A conference call to discuss the results is scheduled for July 23, 2024, at 9:00 a.m. ET.
Participants must register in advance via a provided link, and step-by-step access details will be sent by email.
The call can also be accessed through a webcast on Medpace's investor site, where a replay and supplemental slide presentation will be available post-call.
Medpace is traded under the ticker MEDP on Nasdaq.
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