Medpace Revises FY22 Outlook On Foreign Exchange Impact - Medpace Hldgs (NASDAQ:MEDP)

Medpace Holdings Inc's MEDP Q2 revenue increased 26.2% Y/Y to $351.2 million, beating the consensus of $344.02 million. On a constant currency organic basis, revenue increased 27.7%.
As of March 31, 2022, the Backlog grew 24.4% to $2.2 billion. Net new business awards were $450.6 million, representing a net book-to-bill ratio of 1.28x.
EBITDA increased 42% to $68.1 million or 19.4% of revenue, compared to $47.9 million, or 17.2% of revenue a year ago.
Medpace posted EPS of $1.46, up from $1.06 a year ago and beating the consensus of $1.31.
Financial Guidance: Medpace reaffirmed FY22 revenue of $1.405 billion - $1.435 billion versus the prior guidance of $1.4 billion - $1.46 billion and the consensus of $1.40 billion.
EBITDA is expected to be $268 million - $280 million versus the previous guidance of $262 million - $278 million.
The revised forecast includes an additional foreign exchange headwind on revenue of approximately $4 million and a tailwind on EBITDA of approximately $3 million.
Medpace expects EPS of $6.07 - $6.36 compared to prior guidance of $5.72 - $6.06 and the consensus of $5.82.
Price Action: MEDP shares closed 0.28% higher at $167.50 during the after-market session on the last check Monday.