Medpace Holdings (MEDP) Tops Q1 EPS by 45c, Offers Guidance

Medpace Holdings (NASDAQ: MEDP) reported Q1 EPS of $2.27, $0.45 better than the analyst estimate of $1.82. Revenue for the quarter came in at $434.1 million versus the consensus estimate of $401.83 million.

GUIDANCE:

Medpace Holdings sees FY2023 revenue of $1.75-1.81 billion, versus the consensus of $1.71 billion.

• The Company forecasts 2023 revenue in the range of $1.745 billion to $1.805 billion, representing growth of 19.5% to 23.6% over 2022 revenue of $1.460 billion. GAAP net income for full year 2023 is forecasted in the range of $250.0 million to $269.0 million. Additionally, full year 2023 EBITDA is expected in the range of $335.0 million to $355.0 million. Based on forecasted 2023 revenue of $1.745 billion to $1.805 billion and GAAP net income of $250.0 million to $269.0 million, diluted earnings per share (GAAP) is forecasted in the range of $7.81 to $8.40. This guidance assumes a full year 2023 tax rate of 17.5% to 18.5% and does not reflect the potential impact of any share repurchases the Company may make after March 31, 2023

For earnings history and earnings-related data on Medpace Holdings (MEDP) click here.

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