Clinical research company Medpace Holdings (NASDAQ: MEDP) will be reporting earnings this Wednesday after the bell. Here’s what to look for.
Medpace beat analysts’ revenue expectations last quarter, reporting revenues of $708.5 million, up 32% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and a solid 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 24.7% year on year, improving from the 9.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Medpace has missed Wall Street’s revenue estimates multiple times over the last two years.
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 unravel for life sciences tools & services stocks. However, there has been positive investor sentiment in the segment, with share prices up 9% on average over the last month. Medpace is up 15.7% during the same time .
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