Medpace Q3 2022 Earnings Report
Key Takeaways
Medpace Holdings, Inc. reported a 29.8% increase in revenue to $383.7 million for the third quarter of 2022, compared to $295.6 million for the comparable prior-year period. GAAP net income increased to $66.0 million, or $2.05 per diluted share, versus $48.6 million, or $1.29 per diluted share, for the comparable prior-year period. Net new business awards were $470.9 million, representing a net book-to-bill ratio of 1.23x.
Revenue for Q3 2022 reached $383.7 million, a 29.8% increase year-over-year.
Net new business awards totaled $470.9 million, up 15.4% compared to the previous year.
GAAP net income for Q3 2022 was $66.0 million, or $2.05 per diluted share.
EBITDA for Q3 2022 increased by 48.5% to $89.3 million.
Medpace
Medpace
Forward Guidance
The Company forecasts 2022 revenue in the range of $1.440 billion to $1.460 billion, representing growth of 26.1% to 27.8% over 2021 revenue of $1.142 billion. GAAP net income for full year 2022 is forecasted in the range of $232.0 million to $236.0 million. Additionally, full year 2022 EBITDA is expected in the range of $302.0 million to $310.0 million. The Company forecasts 2023 revenue in the range of $1.680 billion to $1.740 billion. Full year 2023 EBITDA is expected in the range of $325.0 million to $350.0 million.
Positive Outlook
- Forecasts 2022 revenue in the range of $1.440 billion to $1.460 billion, representing growth of 26.1% to 27.8% over 2021 revenue.
- GAAP net income for full year 2022 is forecasted in the range of $232.0 million to $236.0 million.
- Full year 2022 EBITDA is expected in the range of $302.0 million to $310.0 million.
- Forecasts 2023 revenue in the range of $1.680 billion to $1.740 billion.
- Full year 2023 EBITDA is expected in the range of $325.0 million to $350.0 million.