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Dec 31, 2024
Medpace Q4 2024 Earnings Report
Key Takeaways
Medpace Holdings, Inc. reported a strong Q4 2024 with revenue growth of 7.7% YoY to $536.6 million. Net income increased significantly to $117.0 million, with diluted EPS of $3.67. The company's backlog increased slightly, while net new business awards saw a decline of 13.8%. EBITDA rose by 39.3% to $133.5 million, with an EBITDA margin of 24.9%.
Forward Guidance
Medpace projects 2025 revenue in the range of $2.11 billion to $2.21 billion, representing growth of up to 4.8%. GAAP net income is expected to be between $378.0 million and $402.0 million, with diluted EPS in the range of $11.93 to $12.69.
Positive Outlook
- Revenue expected to grow up to 4.8% in 2025
- Net income projected to remain strong at up to $402.0 million
- EBITDA forecasted to be between $462.0 million and $492.0 million
- Strong balance sheet with cash and cash equivalents of $669.4 million
- Stock repurchase program increased by $600 million
Challenges Ahead
- Net new business awards declined 13.8% YoY in Q4 2024
- Backlog conversion rate of 18.3%, indicating slower contract realization
- Projected revenue growth of up to 4.8% lower than previous year’s 11.8%
- Potential impact from economic uncertainties and market conditions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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