Medpace raised its full-year outlook after it reported a second-quarter profit that beat analysts' expectations boosted by gains in new business awards.
Medpace shares surged 46% in premarket.
The clinical research company on Monday reported $90.3 million in net income, or $3.10 a share, up from $88.4 million, or $2.75 a share, from the prior year. Analysts expected $2.98 a share.
Medpace reported $603.3 million in revenue, beating Wall Street's expectations of $539 million and up from $528.1 million the year prior. Net new business awards were $620.5 million, up from $551 million in the second quarter of 2024.
The company raised its 2025 earnings per share guidance to $13.76 to $14.53, up from a range of $12.26 to $13.04.
It also increased its revenue forecast to between $2.42 billion and $2.52 billion, which would represent growth of 14.7% to 19.5% from 2024 revenue.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.