Medpace Q1 2022 Earnings Report
Key Takeaways
Medpace Holdings, Inc. reported a strong first quarter in 2022, with a 27.3% increase in revenue to $330.9 million compared to the prior year. Net new business awards increased by 18.8% to $423.0 million, and GAAP net income rose to $61.3 million, or $1.69 per diluted share.
Revenue increased by 27.3% to $330.9 million compared to Q1 2021.
Net new business awards grew by 18.8% to $423.0 million, resulting in a net book-to-bill ratio of 1.28x.
GAAP net income increased to $61.3 million, or $1.69 per diluted share, compared to $43.3 million, or $1.14 per diluted share, in Q1 2021.
EBITDA for the first quarter of 2022 was $70.4 million, representing 21.3% of revenue.
Medpace
Medpace
Forward Guidance
The Company forecasts 2022 revenue in the range of $1.400 billion to $1.460 billion, representing growth of 22.6% to 27.8% over 2021 revenue of $1.142 billion. GAAP net income for full year 2022 is forecasted in the range of $204.0 million to $216.0 million. Additionally, full year 2022 EBITDA is expected in the range of $262.0 million to $278.0 million.
Positive Outlook
- Revenue is expected to be in the range of $1.400 billion to $1.460 billion.
- Represents a growth of 22.6% to 27.8% over 2021 revenue.
- GAAP net income is forecasted between $204.0 million and $216.0 million.
- EBITDA is expected to be in the range of $262.0 million to $278.0 million.
- Diluted earnings per share (GAAP) is forecasted in the range of $5.72 to $6.06.