$Medpace (MEDP.US)$ shares are falling in Monday's after-hours session after the company reported mixed financial results and adjusted its forward guidance.
Q2 Revenue: $528.1 million, versus estimates of $528.44 million
Q2 EPS: $2.75, versus estimates of $2.54
Total revenue was up 14.6% on a year-over-year basis. Medpace said its backlog increased 13.7% year-over-year to $2.925 billion.
The company generated $116.4 million in cash flow during the quarter. Medpace ended the quarter with $510.9 million in cash and cash equivalents.
Outlook: Medpace revised its full-year 2024 revenue forecast from a range of $2.15 billion to $2.2 billion to a new range of $2.125 billion to $2.175 billion versus estimates of $2.17 billion.
In contrast, Medpace raised its full-year 2024 earnings outlook from a range of $10.79 to $11.47 per share to a new range of $11.24 to $11.93 per share versus estimates of $11.25 per share.