Medspace Stock Is Trading Higher Tuesday: What's Going On?

Medpsace Holdings, Inc. MEDP shares are trading higher Tuesday. The company reported second-quarter earnings on Monday after the market closed.

What To Know: Medspace reported earnings per share of $3.10, beating the consensus estimate of $2.97. In addition, the company reported sales of $603.30 million, beating the consensus estimate of $537.97 million and representing a 14.2% year-over-year increase.

Net new business awards rose 12.6% year-over-year to $620.5 million, resulting in a net book-to-bill ratio of 1.03x. Backlog totaled $2.87 billion as of June 30, down 1.8% from the same period last year.

Medpace repurchased $518.5 million worth of its common stock in the second quarter and had $826.3 million remaining under its share repurchase program as of June 30.

The company ended the quarter with $46.3 million in cash and cash equivalents and generated $148.5 million in cash flow from operations throughout the quarter.

FY25 Outlook: Medspace raised its 2025 earnings per share guidance from between $12.26 to $13.04 to $13.76 and $14.53, versus the consensus estimate of $12.69. Furthermore, the company raised its outlook for sales from between $2.14 billion to $2.24 billion to $2.42 billion to $2.52 billion, versus the consensus estimate of $2.18 billion.

See Also: US Stocks Likely To Open On A Mixed Note Ahead Of Coca-Cola, GM, Lockheed Martin Earnings

MEDP Price Action: At the time of publication, Medpace shares are trading 53.6% higher at $474.90, according to data from Benzinga Pro.

Image via Shutterstock