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Sep 30, 2021
Medpace Q3 2021 Earnings Report
Medpace's financial performance for Q3 2021 was reported, featuring revenue growth and increased net new business awards.
Key Takeaways
Medpace Holdings, Inc. announced strong third-quarter results with a 28.3% increase in revenue to $295.6 million and a 29.4% increase in net new business awards to $408.0 million. GAAP net income rose to $48.6 million, or $1.29 per diluted share.
Revenue for the third quarter of 2021 increased by 28.3% to $295.6 million compared to the prior year.
Net new business awards in Q3 2021 were $408.0 million, a 29.4% increase year-over-year, resulting in a net book-to-bill ratio of 1.38x.
GAAP net income for the third quarter of 2021 was $48.6 million, or $1.29 per diluted share, compared to $41.5 million, or $1.09 per diluted share, in the prior year.
EBITDA for the third quarter of 2021 increased by 15.7% to $60.1 million, representing 20.3% of revenue.
Forward Guidance
The Company forecasts 2021 revenue in the range of $1.135 billion to $1.145 billion, representing growth of 22.6% to 23.7% over 2020 revenue of $925.9 million. GAAP net income for full year 2021 is forecasted in the range of $176.0 million to $180.0 million. Additionally, full year 2021 EBITDA is expected in the range of $216.0 million to $222.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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