Medpace: 2Q Earnings Snapshot
CINCINNATI (AP) _ Medpace Holdings Inc. (MEDP) on Monday reported second-quarter profit of $27.5 million.
The Cincinnati-based company said it had profit of 73 cents per share. Earnings, adjusted for one-time gains and costs, were 81 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The provider of outsourced clinical development services posted revenue of $214.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $200.6 million.
Medpace expects full-year earnings in the range of $2.82 to $2.93 per share, with revenue in the range of $840 million to $860 million.
Medpace shares have climbed 28% since the beginning of the year. In the final minutes of trading on Monday, shares hit $67.68, a climb of 42% in the last 12 months.