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.（納斯達克:MEDP）股價週二報告了其第三季度財務業績後下跌。
Revenue rose 8.3% year-over-year to $533.3 million, missing the consensus of $540.99 million.
營業收入同比增長8.3%至53330萬美元，低於54099萬美元的共識。
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.
按固定匯率計算，季度營業收入增長了8.1%。 截至9月30日，訂單簿增長了8.8%，達到29.27億美元。
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年第三季度淨新增業務獎項總額爲53370萬美元，導致淨承包比率爲1.00倍，低於前一年的61150萬美元。
EBITDA rose 31.7% to $118.8 million, with a margin of 22.3% versus 18.3% a year ago.
EBITDA增長31.7%至11880萬美元，利潤率爲22.3%，而去年爲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，該公司持有65690萬美元的現金及現金等價物，並在第三季度產生14910萬美元的經營現金流。
The company didn't repurchase any shares during the quarter, leaving $308.8 million available under the authorized share repurchase program.
公司在季度期間未回購任何股份，授權的股份回購計劃下剩餘30880萬美元。
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將其2024財年營收預測從21.25億美元至21.75億美元調低至20.9億美元至21.3億美元，而市場預期爲21.38億美元。
The company expects EPS of $11.71 – $12.09 (prior view $11.24 – $11.93) compared to the estimate of $11.56.
公司預計每股收益爲$11.71至$12.09（之前預測爲$11.24至$11.93），相比於$11.56的估計。
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分析師Max Smock表示，他們懷疑較高的取消訂單可能導致淨預訂疲軟，這比由於較低的中標率導致毛預訂大幅下降更可取。
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.
分析師表示，鑑於今年特別是九月觀察到的生物科技資金回暖，投資者可能在毛預訂保持穩定且管理層就取消訂單提供明確說明的情況下，買入此次回調。
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，分析師補充道，缺乏對第三季度預訂不佳的進一步了解，目前無法確定這次回撤是否提供了引人注目的買入機會，或者表明持續的挑戰。分析師重申其「強於市場」評級。
Investors can gain exposure to the stock via Franklin Genomic Advancements ETF (BATS:HELX) and Argent Mid Cap ETF (NASDAQ:AMID).
投資者可以通過franklin genomic advancements etf（BATS:HELX）和Argent Mid Cap ETF（納斯達克：AMID）來接觸該股。
Price Action: MEDP shares are down 8.76% at $322.00 at the last check Tuesday.
股價表現：MEDP股價在上週二最後一次檢查時下跌了8.76%，報322.00美元。
Photo via Shutterstock
圖片來自shutterstock。
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譯文內容由第三人軟體翻譯。
