Medpace Q2 2026 Results and Outlook
Medpace Holdings Inc. (NASDAQ:MEDP) posted second‑quarter 2026 results that beat analyst expectations, prompting an 18.7% rise in its share price during after‑hours trading on Wednesday.
The clinical‑research organization reported adjusted earnings per share of $4.25, surpassing the consensus estimate of $3.98 by $0.27. Revenue for the quarter reached $707.3 million, exceeding the consensus forecast of $690.68 million and representing a 17.2% increase from $603.3 million in the comparable period of 2025.
EBITDA climbed 17.6% year‑over‑year to $153.4 million, delivering an EBITDA margin of 21.7%. GAAP net income rose to $121.4 million, or $4.25 per diluted share, compared with $90.3 million, or $3.10 per diluted share, in Q2 2025, expanding the net‑income margin to 17.2% from 15.0%.
Net new business awards totaled $795.7 million in the quarter, a 28.2% increase over $620.5 million in the prior‑year period, resulting in a net book‑to‑bill ratio of 1.13×. The backlog as of 30 June 2026 grew 4.9% to $3,014.2 million from $2,873.6 million a year earlier.
For the full year 2026, Medpace raised its revenue guidance to a range of $2.805 billion to $2.885 billion, implying growth of 10.9% to 14.0% over the 2025 revenue of $2.530 billion; the midpoint of $2.845 billion exceeds the analyst consensus of $2.772 billion. GAAP earnings per share are now projected between $17.25 and $17.95, with a midpoint of $17.60, above the consensus estimate of $17.12.
Operating cash flow for the quarter was $162.0 million, and cash and cash equivalents stood at $502.7 million as of 30 June 2026. During the quarter, the company repurchased 705,616 shares for $294.7 million, leaving $527.0 million remaining under its authorized share‑repurchase program.