Earnings ·
Medpace reports Q3 revenue of $716M and approves new $1B share repurchase program
MEDPMedpace Holdings, Inc.
Medpace Holdings reported third-quarter revenue of $716.0 million, an 8.5% increase from the prior year period, with GAAP net income rising to $137.5 million or $4.84 per diluted share. Net new business awards grew 10.6% to $873.4 million, while EBITDA increased 16.0% to $172.1 million. Concurrently, the Board terminated the existing stock repurchase authorization with $527.0 million remaining and approved a new program authorizing up to $1.0 billion in share buybacks through December 31, 2028. The company operates as a global clinical contract research organization providing Phase I-IV development services.