Medpace Holdings Stock Tumbles On Q2 Earnings: What Investors Need To Know - Medpace Hldgs (NASDAQ:MEDP)

　　Medpace Holdings Inc MEDP shares are falling in Mondays after-hours session after the company reported mixed financial results and adjusted its forward guidance.

• Q2 Revenue: $528.1 million, versus estimates of $528.44 million

• Q2 EPS:$2.75, versus estimates of $2.54

　　Total revenue was up 14.6% on a year-over-year basis. Medpace said its backlog increased 13.7% year-over-year to $2.925 billion.

　　The company generated $116.4 million in cash flow during the quarter. Medpace ended the quarter with $510.9 million in cash and cash equivalents.

　　Outlook:Medpace revised its full-year 2024 revenue forecast from a range of $2.15 billion to $2.2 billion to a new range of $2.125 billion to $2.175 billion versus estimates of $2.17 billion.

　　In contrast, Medpace raised its full-year 2024 earnings outlook from a range of $10.79 to $11.47 per share to a new range of $11.24 to $11.93 per share versus estimates of $11.25 per share.

　　Management will hold a conference call to discuss these results Tuesday morning at 9 a.m. ET.

　　MEDP Price Action:Medpace shares were down 13.08% at $380 at the time of publication, according to Benzinga Pro.

　　Photo: 3844328 from Pixabay.

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