NASDAQ$MEDP
Medpace Holdings Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Medpace's Q3 2024 performance reflected revenue growth and increased profitability.
Medpace Holdings, Inc. reported an 8.3% increase in revenue for the third quarter of 2024, reaching $533.3 million. Net income rose to $96.4 million, or $3.01 per diluted share, and EBITDA increased by 31.7% to $118.8 million.
- Revenue for Q3 2024 increased by 8.3% to $533.3 million compared to the prior year.
- Net new business awards in Q3 2024 were $533.7 million, resulting in a book-to-bill ratio of 1.00x.
- GAAP net income for Q3 2024 was $96.4 million, or $3.01 per diluted share, compared to $70.6 million, or $2.22 per diluted share, in the prior year.
- EBITDA for Q3 2024 increased by 31.7% to $118.8 million, representing 22.3% of revenue.
Headline financials
Revenue & EPS history
Medpace · Revenue · Quarterly
$533M
Forward guidance
Medpace forecasts 2024 revenue in the range of $2.090 billion to $2.130 billion, representing growth of 10.8% to 12.9% over 2023 revenue of $1.886 billion. GAAP net income for full year 2024 is forecasted in the range of $376.0 million to $388.0 million. Additionally, full year 2024 EBITDA is expected in the range of $450.0 million to $470.0 million.
Tailwinds
- Revenue is forecasted between $2.090 billion and $2.130 billion, indicating a growth of 10.8% to 12.9% compared to 2023.
- GAAP net income is projected to be in the range of $376.0 million to $388.0 million for the full year.
- Diluted earnings per share (GAAP) are forecasted to be between $11.71 and $12.09.
- EBITDA is expected to range from $450.0 million to $470.0 million for the full year.
- The guidance assumes a full year 2024 tax rate of 15.5% to 16.5% and interest income of $24.4 million.
Headwinds
- Guidance does not include the potential impact of any share repurchases the Company may make pursuant to the share repurchase program after September 30, 2024.
- Potential loss, delay or non-renewal of contracts.
- Failure to convert backlog to revenue.
- Decreased operating margins due to increased pricing pressure.
- Failure to retain key executives or other personnel.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-1.7%
Avg return
Earnings day
-1.6%
Avg return
5 days after
+1.1%
Avg return
30 days after
44%
19 / 43 earnings
Positive
+39.0%
Q3 2022
Best reaction
-31.5%
Q1 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.5% | -19.4% | -14.9% | |
| Q4 2025 | -15.9% | -19.3% | -16.3% | |
| Q3 2025 | +9.0% | +6.2% | +8.2% | |
| Q2 2025 | -0.2% | +1.5% | +7.0% | |
| Q1 2025 | -2.3% | +3.3% | +1.4% | |
| Q4 2024 | -7.5% | -4.0% | -10.3% | |
| Q3 2024 | -8.4% | -7.3% | -8.5% | |
| Q2 2024 | -15.2% | -9.5% | -6.1% | |
| Q1 2024 | +9.4% | +6.4% | +4.8% | |
| Q4 2023 | +11.6% | +20.0% | +25.0% | |
| Q3 2023 | +18.8% | +9.2% | +20.8% | |
| Q2 2023 | +4.6% | +3.9% | +1.8% | |
| Q1 2023 | +10.2% | +5.9% | +7.2% | |
| Q4 2022 | -2.9% | -7.6% | -20.4% | |
| Q3 2022 | +39.0% | +41.5% | +39.2% | |
| Q2 2022 | -2.9% | +5.0% | +3.8% | |
| Q1 2022 | -12.0% | -11.3% | -12.2% | |
| Q4 2021 | -20.6% | -18.2% | -12.1% | |
| Q3 2021 | +13.9% | +21.1% | +14.4% | |
| Q2 2021 | -6.0% | -3.4% | -0.8% | |
| Q1 2021 | -12.8% | -11.3% | -13.3% | |
| Q4 2020 | -2.7% | -5.3% | -2.0% | |
| Q3 2020 | -6.1% | -4.8% | +4.4% | |
| Q2 2020 | +15.5% | +12.8% | +16.7% | |
| Q1 2020 | -2.5% | -11.9% | +9.0% | |
| Q4 2019 | +2.4% | -9.7% | -31.7% | |
| Q3 2019 | +0.8% | -0.5% | +3.8% | |
| Q2 2019 | +24.9% | +19.9% | +27.2% | |
| Q1 2019 | -4.3% | -1.6% | -4.7% | |
| Q4 2018 | -21.3% | -21.8% | -18.4% | |
| Q3 2018 | +0.2% | +13.9% | +21.8% | |
| Q2 2018 | +28.6% | +24.4% | +23.4% | |
| Q1 2018 | +2.3% | -0.0% | +12.9% | |
| Q4 2017 | -15.7% | -14.3% | -5.3% | |
| Q3 2017 | +6.2% | +5.6% | -3.7% | |
| Q2 2017 | +8.0% | +15.1% | +17.2% | |
| Q1 2016 | -31.5% | -29.1% | -12.6% | |
| Q1 2017 | -29.1% | -27.5% | -12.3% | |
| Q4 2014 | -21.3% | -20.7% | -22.2% | |
| Q2 2016 | -21.3% | -20.7% | -22.2% | |
| Q4 2016 | -19.8% | -20.1% | -22.3% | |
| Q3 2016 | +3.8% | +8.1% | +24.0% | |
| Q4 2015 | +3.8% | +8.1% | +24.0% | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q1 2014 | — | — | — |
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