Medpace revenue miss pressures shares

Medpace Holdings (NASDAQ:MEDP) Q3 results:

Revenue: $216.2M (+20.6%).

Backlog up almost 20% to $1.2B.

Net income: $24.0M (+24.4%); non-GAAP net income: $27.0M (+8.0%); EPS: $0.63 (+21.2%); non-GAAP EPS: $0.71 (+6.0%); non-GAAP EBITDA: $34.8M (-6.2%).

Cash flow ops (9 mo.): $144.9M (+23.7%).

Business environment “steady” according to CEO August Troendle.

2019 guidance: Revenue: $840M – 860M (unch); net income: $94.9M – 99.7M from $93.4M – 97.4M; non-GAAP net income: $107.2M – 112.0M from $105.7M – 109.7M; EPS: $2.51 – 2.64 from $2.49 – 2.60; non-GAAP EPS: $2.85 – 2.97 from $2.82 – 2.93; non-GAAP EBITDA: $144M – 150M (unch).

Previously: Medpace EPS in-line, misses on revenue (Oct. 28)

https://seekingalpha.com/news/3510424-medpace-revenue-miss-pressures-shares-3-percent-hours