EarningsQ2 2026 Earnings Report
MX:MEDP Q2 2026 EPS Results
Actual EPS$76.34
Consensus EPS$71.45
Beat/MissBeat by +$4.89
One Year Ago EPS$55.68
MX:MEDP Q2 2026 Revenue Results
Actual Revenue$12.71B
Expected Revenue$12.39B
Beat/MissBeat by +$320.09M
YoY Revenue Growth+17.24%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeAfter Close
Conference CallWednesday, July 22, 2026
MX:MEDP Upcoming Earnings
Medpace Holdings's next earnings date is estimated for October 21, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MEDP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed solid financial and operational momentum: double‑digit revenue and EBITDA growth, sizable net new awards and backlog growth, strong cash generation, share repurchases, and constructive guidance for 2026. Management noted improving RFP and funding dynamics and moderation of cancellations in Q2. Key risks discussed include prior cancellation volatility, an elevated backlog conversion rate versus historical norms (driven by gating policies and portfolio composition), higher reimbursable costs in H1, and customer concentration. Overall, the positive financial results, record net bookings, and upward guidance outweigh the operational risks and uncertainties discussed.Company Guidance
Strong Revenue Growth
Q2 revenue of $707.3M, up 17.2% year-over-year; revenue for the 6 months was $1.41B, up 21.7% year-over-year.
Improved Profitability
Q2 EBITDA of $153.4M, up 17.6% YoY with EBITDA margin of 21.7% (vs 21.6% prior year); YTD EBITDA $302.8M, up 21.5% YoY.
Net Income and EPS Upside
Q2 net income $121.4M, up 34.5% YoY (driven by lower effective tax rate and higher interest income); Q2 diluted EPS $4.25 vs $3.10 prior year; YTD net income up 19.7% to $245.2M and YTD EPS $8.53 vs $6.79.
Record Net Bookings and Backlog Growth
Net new business awards entering backlog increased 28.2% YoY to $795.7M, resulting in a 1.13x net book-to-bill; ending backlog ≈ $3.0B, up 4.9% YoY; projected ~$1.96B of backlog to convert to revenue in next 12 months.
Improving Business Development Activity
RFPs up sequentially and YoY with improved quality; company reported a record quarter for net bookings and expects gross bookings to ramp in H2.
Strong Cash Generation and Capital Allocation
Operating cash flow of $162M in Q2; negative net DSO of 59.6 days; repurchased ~706k shares for $294.7M in Q2 with $527M authorization remaining; cash balance $502.7M at quarter end.
Positive Guidance for 2026
Raised/updated full‑year 2026 guidance: revenue $2.805B–$2.885B (growth 10.9%–14.0% YoY); EBITDA $618M–$642M (growth 10.8%–15.1% YoY); net income $494M–$514M; diluted EPS $17.25–$17.95 (assumes 19%–19.5% tax rate).
Operational Strengths
Cancellations moderated in Q2, win rates improved after implemented initiatives, low employee turnover, and manageable headcount growth (expecting high-single-digit employee growth).
Therapeutic Mix Shift to Oncology
Management cited oncology representing over half of recent bookings and award notifications, indicating a shift back toward historical oncology weighting in the mix.
MX:MEDP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed