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Tuesday, July 30, 2019

Medpace up 16% after Q2 beat

Thinly traded CRO Medpace Holdings (MEDP +15.7%) is up on almost double normal volume, albeit on turnover of only 700K shares, following its Q2 results released after the close yesterday. Highlights:
Revenue was up 26% to $214.1M. Backlog was up 20% to $1.2B.
Net income was up 66% to $27.5M and EPS rose 62% to $0.73.
2019 guidance: Revenue: $840M – 860M; net income: $93.4M – 97.4M; non-GAAP net income: $105.7M – 109.7M; EPS: $2.49 – 2.60; non-GAAP EPS: $2.82 – 2.93.

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