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Dec 31, 2019
Medpace Q4 2019 Earnings Report
Medpace reported an increase in revenue and net new business awards for Q4 2019.
Key Takeaways
Medpace Holdings, Inc. announced financial results for the fourth quarter and full year ended December 31, 2019. Revenue for the quarter increased by 19.7% to $229.9 million, and net new business awards increased by 21.6% to $281.1 million.
Revenue increased 19.7% to $229.9 million compared to the prior-year period.
Net new business awards increased 21.6% to $281.1 million compared to the prior-year period.
GAAP net income was $29.8 million, or $0.78 per diluted share, versus $22.8 million, or $0.61 per diluted share, for the comparable prior-year period.
Adjusted Net Income was $32.2 million, or $0.85 per diluted share, for the fourth quarter of 2019, an increase of 14.5% from the comparable prior-year period.
Medpace
Medpace
Forward Guidance
The Company forecasts 2020 revenue in the range of $975.0 million to $1,005.0 million, representing growth of 13.2% to 16.7% over 2019 revenue of $861.0 million. GAAP net income for full year 2020 is forecasted in the range of $123.4 million to $127.4 million.
Positive Outlook
- Revenue in the range of $975.0 million to $1,005.0 million
- Growth of 13.2% to 16.7% over 2019 revenue of $861.0 million
- GAAP net income for full year 2020 is forecasted in the range of $123.4 million to $127.4 million
- EBITDA is expected in the range of $170.0 million to $178.0 million
- Diluted earnings per share (GAAP) is forecasted in the range of $3.24 to $3.34