Medpace Hldgs Q3 2024 GAAP EPS $3.01 Beats $2.78 Estimate, Sales $533.300M Miss $540.987M Estimate
Portfolio Pulse from Benzinga Newsdesk
Medpace Holdings reported Q3 2024 earnings per share of $3.01, surpassing the expected $2.78, but sales of $533.3 million fell short of the $540.987 million estimate. Despite the sales miss, revenue increased by 8.28% compared to the previous year.
October 21, 2024 | 8:16 pm
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Medpace Holdings reported better-than-expected Q3 2024 EPS of $3.01, beating estimates by 8.27%. However, sales of $533.3M missed expectations by 1.42%. Despite the sales miss, revenue grew 8.28% YoY.
The positive EPS surprise is likely to have a favorable impact on the stock price in the short term, as it indicates better profitability than expected. The sales miss is relatively minor and offset by the year-over-year revenue growth, which should mitigate negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100