Backlog Conversion Likely to Aid Medpace's (MEDP) Q2 Earnings

During the first quarter of 2024, Medpace witnessed a robust revenue uptick year over year on the back of a strong backlog conversion rate. Its net new business awards were also strong during the period. We expect the company to have continued to register strong backlog addition in the second quarter. On its first-quarter earnings call in April, the company projected backlog conversion of approximately $1.56 billion to revenues in 12 months. This is likely to have reflected in the second-quarter result. Cen ...