- Medpace press release ( NASDAQ: MEDP ): Q3 GAAP EPS of $2.05 beats by $0.57 .
- Revenue of $383.7M (+29.8% Y/Y) beats by $26.53M .
- Net new business awards were $470.9 million in the third quarter of 2022, representing an increase of 15.4% from net new business awards of $408.0 million for the comparable prior-year period, which resulted in a net book-to-bill ratio of 1.23x.
- Backlog as of September 30, 2022 increased 20.9% to $2.2 billion from $1.8 billion as of September 30, 2021.
- Net new business awards were $470.9 million, representing a net book-to-bill ratio of 1.23x
- The Company forecasts 2022 revenue in the range of $1.440 billion to $1.460 billion from prior outlook of $1.405B and $1.435B vs. $1.41B consensus , 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.
- GAAP net income of $232.0 million to $236.0 million, diluted earnings per share (GAAP) is forecasted in the range of $6.88 to $7.00.
- This guidance assumes a full year 2022 tax rate of 16.0% to 17.0%, 33.7 million diluted weighted-average shares outstanding for 2022, and foreign exchange rates as of September 30, 2022.
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Medpace GAAP EPS of $2.05 beats by $0.57, revenue of $383.7M beats by $26.53M, raises FY22 guidance