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Sep 30, 2020
Medpace Q3 2020 Earnings Report
Reported third quarter results with revenue increasing, net new business awards rising, and GAAP net income improving.
Key Takeaways
Medpace Holdings, Inc. announced financial results for the third quarter ended September 30, 2020. Revenue increased by 6.5% to $230.4 million compared to the prior-year period. Net new business awards were $315.4 million, and GAAP net income was $41.5 million, or $1.09 per diluted share.
Revenue for the third quarter of 2020 increased 6.5% to $230.4 million.
Net new business awards increased 10.5% to $315.4 million, resulting in a net book-to-bill ratio of 1.37x.
GAAP net income for the third quarter of 2020 was $41.5 million, or $1.09 per diluted share.
EBITDA for the third quarter of 2020 increased 49.4% to $51.9 million.
Forward Guidance
The Company forecasts 2020 revenue in the range of $880.0 million to $920.0 million. GAAP net income for full year 2020 is forecasted in the range of $136.0 million to $144.0 million. Additionally, full year 2020 EBITDA is expected in the range of $180.0 million to $190.0 million.
Historical Earnings Impact
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