Clinical research company Medpace Holdings (NASDAQ:MEDP) will be announcing earnings results this Wednesday after the bell. Here’s what you need to know.
Medpace beat analysts’ revenue expectations last quarter, reporting revenues of $707.3 million, up 17.2% year on year. It was a very strong quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and an impressive beat of analysts’ full-year EPS guidance estimates.
Is Medpace a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Medpace’s revenue to grow 8.1% year on year, slowing from the 23.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Medpace rarely misses Wall Street’s revenue estimates.
With Medpace being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for life sciences tools & services stocks. However, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. Medpace’s stock price was unchanged during the same time .
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