Medpace Reports Mixed Q4 Earnings, Issues FY22 Guidance Ahead Of Estimates

Medpace Holdings Inc's MEDP Q4 revenue increased 18.8% Y/Y to $308.6 million, missing the consensus of $309.04 million. On a constant currency organic basis, revenue increased 19.2%.

• As of December 31, 2021, Backlog grew 29.5% to $1.99 billion. Net new business awards were $458.7 million, representing a net book-to-bill ratio of 1.49x.
• EBITDA for Q4 FY21 increased 2.0% to $61.4 million, or 19.9% of revenue, compared to $60.2 million, or 23.2% of revenue, for the comparable prior-year period.
• The Company posted EPS of $1.32, down from $1.35 posted a year ago and beating the consensus of $1.25.
• Additionally, as of February 10, the Company's Board of Directors approved an increase of $300 million to the Company's stock repurchase program.
• Financial Guidance: Medpace forecasts FY22 revenue of $1.4 billion - $1.46 billion, representing Y//Y growth of 22.6% - 27.8%, compared to the consensus of $1.44 billion.
• EBITDA is expected to be $262 million - $278 million. 
• The Company expects EPS of $5.35 - $5.67, versus the consensus of $5.49.
• Price Action: MEDP shares closed at $174.23 on Monday.