Medpace Holdings Inc (NASDAQ:MEDP) reported first-quarter financial results after market close on Monday. Here’s a look at the key metrics from the quarter.
Total revenue was up 9.3% on a year-over-year basis. New business awards totaled $500 million in the quarter, down 18.8% year-over-year. The company ended the period with a backlog of approximately $2.85 billion, down 2.1% year-over-year.
Medpace generated $125.8 million in cash flow from operations during the quarter. The company said it repurchased approximately 1.19 million shares for $389.8 million in the first quarter. Medpace’s board also authorized a $1 billion increase to the company’s buyback, bringing the total authorization up to approximately $1.34 billion.
The company ended the quarter with $441.4 million in cash and cash equivalents.
Outlook: Medpace expects full-year 2025 revenue to be between $2.14 billion and $2.24 billion versus estimates of $2.15 billion. The company anticipates full-year earnings of $12.26 to $13.04 per share versus estimates of $12.27 per share.
Medpace executives will further discuss the quarter on a call with investors and analysts Tuesday morning at 9 a.m. ET.
MEDP Price Action: Medpace shares were down 9.34% after-hours, trading at $262 at the time of publication Monday, according to Benzinga Pro.
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