Why Is Medpace Stock Diving On Tuesday?
Why Is Medpace Stock Diving On Tuesday?
Net new business awards totaled $533.7 million for the third quarter of 2024, resulting in a net book-to-bill ratio of 1.00x, compared to $611.5 million in the prior year.Medpace Holdings, Inc. (NASDAQ:MEDP) shares are trading lower on Tuesday after reporting its third-quarter financial results yesterday.
Medpace Holdings, Inc.（纳斯达克:MEDP）股价周二报告了其第三季度财务业绩后下跌。
Revenue rose 8.3% year-over-year to $533.3 million, missing the consensus of $540.99 million.
营业收入同比增长8.3%至53330万美元，低于54099万美元的共识。
On a constant currency basis, revenue increased by 8.1% in the quarter. As of September 30, backlog rose by 8.8% to $2.927 billion.
按固定汇率计算，季度营业收入增长了8.1%。 截至9月30日，订单簿增长了8.8%，达到29.27亿美元。
Net new business awards totaled $533.7 million for the third quarter of 2024, resulting in a net book-to-bill ratio of 1.00x, compared to $611.5 million in the prior year.
2024年第三季度净新增业务奖项总额为53370万美元，导致净承包比率为1.00倍，低于前一年的61150万美元。
EBITDA rose 31.7% to $118.8 million, with a margin of 22.3% versus 18.3% a year ago.
EBITDA增长31.7%至11880万美元，利润率为22.3%，而去年为18.3%。
As of September-end, the company held $656.9 million in cash and cash equivalents and generated $149.1 million in operating cash flow in the third quarter.
截至九月底，该公司持有65690万美元的现金及现金等价物，并在第三季度产生14910万美元的经营现金流。
The company didn't repurchase any shares during the quarter, leaving $308.8 million available under the authorized share repurchase program.
公司在季度期间未回购任何股份，授权的股份回购计划下剩余30880万美元。
Outlook: Medspace lowered its FY24 revenue forecast from $2.125 billion – $2.175 billion to $2.090 billion – $2.130 billion versus the consensus of $2.138 billion.
展望：Medpace将其2024财年营收预测从21.25亿美元至21.75亿美元调低至20.9亿美元至21.3亿美元，而市场预期为21.38亿美元。
The company expects EPS of $11.71 – $12.09 (prior view $11.24 – $11.93) compared to the estimate of $11.56.
公司预计每股收益为$11.71至$12.09（之前预测为$11.24至$11.93），相比于$11.56的估计。
William Blair analyst Max Smock stated that they suspect that elevated cancellations may have contributed to the weak net bookings, which is preferable to a significant drop in gross bookings due to a lower win rate.
William Blair分析师Max Smock表示，他们怀疑较高的取消订单可能导致净预订疲软，这比由于较低的中标率导致毛预订大幅下降更可取。
The analyst says that given the rebound in biotech funding observed this year, particularly in September, investors may be able to buy the dip if gross bookings remain stable and management provides clarity on cancellations.
分析师表示，鉴于今年特别是九月观察到的生物科技资金回暖，投资者可能在毛预订保持稳定且管理层就取消订单提供明确说明的情况下，买入此次回调。
However, the analyst adds that without further insight into the third-quarter bookings miss, it's uncertain whether this pullback presents a compelling buying opportunity or indicates ongoing challenges. The analyst reiterated the Outperform rating.
然而，分析师补充道，缺乏对第三季度预订不佳的进一步了解，目前无法确定这次回撤是否提供了引人注目的买入机会，或者表明持续的挑战。分析师重申其“强于市场”评级。
Investors can gain exposure to the stock via Franklin Genomic Advancements ETF (BATS:HELX) and Argent Mid Cap ETF (NASDAQ:AMID).
投资者可以通过franklin genomic advancements etf（BATS:HELX）和Argent Mid Cap ETF（纳斯达克：AMID）来接触该股。
Price Action: MEDP shares are down 8.76% at $322.00 at the last check Tuesday.
股价表现：MEDP股价在上周二最后一次检查时下跌了8.76%，报322.00美元。
Photo via Shutterstock
图片来自shutterstock。
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