Medpace Holdings Inc. (NASDAQ:MEDP) stock is trading higher on Thursday on better-than-expected second-quarter financial results and raised its fiscal 2026 guidance.

The clinical contract research organization reported earnings of $4.25, beating the consensus of $3.97.

The company reported sales of $707.33 million, surpassing the consensus of $687.65 million.

Revenues increased 17.2% year over year, representing a backlog conversion rate of 24.1%.

EBITDA climbed 17.6% to $153.4 million, representing 21.7% of total revenue.

Backlog Continues To Grow

Meanwhile, the company’s project backlog grew 4.9% year-over-year to over $3.01 billion. Net new business awards hit $795.7 million for the quarter, generating a healthy net book-to-bill ratio of 1.13x.

CEO August Troendle in the earnings conference call said, “Cancellations were well-behaved and supported a record quarter for net bookings. RFPs were up sequentially and year over year, generating high-quality opportunities.”

“Overall, the environment remains constructive into July, and we are making good progress in positioning the business for 2027,” Troendle further commented.

Medpace Raises Fiscal 2026 Guidance

Medpace on Wednesday raised its fiscal 2026 earnings from $16.68-$17.50 per share to $17.25-$17.95 per share compared to the consensus of $16.97.

The company also increased fiscal 2026 revenue guidance from $2.755 billion-$2.855 billion to $2.805 billion-$2.885 billion compared to the consensus of $2.778 billion.

EBITDA is expected to reach between $618.0 million and $642.0 million.

MEDP Stock Price Activity: Medpace Holdings shares were up 14.24% at $603.31 at the time of publication on Thursday, according to Benzinga Pro data.

Photo: Shutterstock