Medpace Q3 2020 Earnings Report
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.
Medpace
Medpace
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.