Clinical research company Medpace Holdings (NASDAQ:MEDP) will be announcing earnings results tomorrow after market hours. Here’s what to expect.
Medpace missed analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $533.3 million, up 8.3% year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue estimates and full-year revenue guidance slightly missing analysts’ expectations.
Is Medpace a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Medpace’s revenue to grow 7.1% year on year to $534 million, slowing from the 26.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.12 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Medpace’s peers in the life sciences tools & services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Azenta delivered year-on-year revenue growth of 4.1%, beating analysts’ expectations by 1.1%, and IQVIA reported revenues up 2.3%, topping estimates by 0.6%. Azenta traded up 4% following the results while IQVIA was also up 1.5%.
Read our full analysis of Azenta’s results here and IQVIA’s results here.
Investors in the life sciences tools & services segment have had steady hands going into earnings, with share prices flat over the last month. Medpace is down 1.8% during the same time and is heading into earnings with an average analyst price target of $343.83 (compared to the current share price of $345.70).
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