Core Viewpoint - Medpace (MEDP) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on the consensus measure of EPS estimates from sell-side analysts, reflecting the company's changing earnings picture [1][2]. - Changes in earnings estimates are strongly correlated with near-term stock price movements, influenced by institutional investors who adjust their valuations based on these estimates [4]. Business Improvement Indicators - Rising earnings estimates and the Zacks rating upgrade suggest an improvement in Medpace's underlying business, which could lead to increased stock prices as investors respond positively [5][10]. - The Zacks Consensus Estimate for Medpace has increased by 8.3% over the past three months, with expected earnings of $13.99 per share for the fiscal year ending December 2025, indicating stability year-over-year [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - Only the top 5% of Zacks-covered stocks receive a "Strong Buy" rating, positioning Medpace among the best candidates for potential market-beating returns [9][10].

Group 1: Stock Highlights - Calix, Inc. (CALX) has a Zacks Rank 1 with a 25.6% increase in the current year earnings estimate over the last 60 days and a share price gain of 35.9% in the last three months compared to the S&P 500's 14.9% [1] - Medpace Holdings, Inc. (MEDP) also holds a Zacks Rank 1, with a 10.1% increase in the current year earnings estimate over the last 60 days and a share price gain of 46.1% in the last three months compared to the S&P 500's 14.9% [2] - West Pharmaceutical Services, Inc. (WST) maintains a Zacks Rank 1, with a 5.3% increase in the current year earnings estimate over the last 60 days and a share price gain of 23.4% in the last three months compared to the S&P 500's 14.9% [3] Group 2: Momentum Scores - Calix, Inc. has a Momentum Score of A, indicating strong momentum characteristics [1] - Medpace Holdings, Inc. also possesses a Momentum Score of A, reflecting its robust performance [2] - West Pharmaceutical Services, Inc. carries a Momentum Score of A, showcasing its positive momentum [3]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortrea Holdings Inc. regarding a class action lawsuit due to alleged misleading statements and overestimations related to the company's financial projections and business model [1][3]. Summary by Relevant Sections Allegations - The complaint alleges that during the class period from July 3, 2023, to February 28, 2025, Fortrea Holdings Inc. made materially false and misleading statements, including: - Overestimating revenue contributions from long-term projects, known as Pre-Spin Projects, to 2025 earnings [3]. - Overstating potential cost savings from exiting transition services agreements [3]. - Inflating previously announced EBITDA targets for 2025 [3]. - Overstating the viability of the post-spin-off business model and financial prospects [3]. - Resulting in public statements that were materially false and misleading throughout the relevant period [3]. Class Action Details - Shareholders who purchased shares during the specified class period are encouraged to register for the class action, with a deadline of August 1, 2025, to seek lead plaintiff status [4]. - Registration allows shareholders to receive updates through a portfolio monitoring software regarding the case's progress [4]. Law Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit, fraud, and illegal business practices, ensuring companies adhere to responsible business practices [5].

Financial Performance - ICON's closing backlog increased to $25 billion, representing a 4.9% growth[10] - Revenue for Q2 2025 was $2017 million[12] - Adjusted EBITDA margin was 19.6% for Q2 2025[19] - Adjusted earnings per share was $3.26 for Q2 2025[22] Customer Concentration - Top 1-5 customers accounted for 25.9% of total revenue in Q2 2025[15] - Top 6-10 customers accounted for 14.8% of total revenue in Q2 2025[15] - Top 11-25 customers accounted for 34.3% of total revenue in Q2 2025[15] Cash Flow - TTM (Trailing Twelve Months) Cash Flow from Operations was $1327.3 million[25] - TTM Free Cash Flow was $1182.1 million[25] Guidance - Total capital expenditure spend is expected to be approximately $200 million for 2025[28] Strategic Considerations - The company is focused on disciplined deployment of capital, including returning capital to shareholders and strategic M&A[8] - The clinical market remains variable due to macro uncertainty and muted funding[8]

Core Viewpoint - Fortrea Holdings Inc. is facing a class action lawsuit for allegedly misleading investors regarding its financial projections and business model following its spin-off from Labcorp [1][3][4]. Company Overview - Fortrea is a global clinical research organization (CRO) that assists in the development of pharmaceutical and medical device products. It was spun off from Labcorp in June 2023 and had ongoing long-term projects at that time [3]. Allegations of Misleading Information - The lawsuit claims that Fortrea overestimated the revenue from its Pre-Spin Projects for 2025, overstated cost savings from phasing out transition service agreements (TSAs), and inflated its EBITDA targets for 2025, presenting an overly optimistic view of its post-spin-off business model [5]. Market Reactions and Stock Performance - On September 25, 2024, Jefferies downgraded Fortrea from Buy to Hold, citing weaknesses in the CRO model and a lack of real cost savings, leading to a stock drop of over 12% [5]. - On December 6, 2024, Baird Equity Research downgraded Fortrea to Neutral after the company canceled two conferences, resulting in an additional 8% decline in stock price [5]. - On March 3, 2025, Fortrea reported disappointing Q4 and full-year 2024 results, admitting that its revenue and EBITDA goals for 2025 were unrealistic, causing the stock to drop more than 25% [5].

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $603.3 million, representing a year-over-year increase of 14.2% and 13.8% on a constant currency basis [10][12] - EBITDA for Q2 2025 was $130.5 million, an increase of 16.2% compared to $112.3 million in Q2 2024, with an EBITDA margin of 21.6% [11][12] - Net income for Q2 2025 was $90.3 million, a 2.2% increase from $88.4 million in the prior year [12] Business Line Data and Key Metrics Changes - Net new business awards entering backlog in Q2 increased by 12.6% year-over-year to $620.5 million, resulting in a net book-to-bill ratio of 1.03 [8][10] - Ending backlog as of June 30, 2025, was approximately $2.9 billion, a decrease of 1.8% from the prior year [8] Market Data and Key Metrics Changes - The company anticipates that approximately $1.75 billion of backlog will convert to revenue in the next twelve months, with a backlog conversion rate of 21.2% in Q2 [9][10] - The funding environment has stabilized and improved, allowing most clients with ongoing studies to secure sufficient funding [7][10] Company Strategy and Development Direction - The company raised its revenue guidance for 2025 by $280 million at the midpoint, now expecting total revenue in the range of $2.42 billion to $2.52 billion, reflecting growth of 14.7% to 19.5% over 2024 [14] - The strategic shift towards faster-burning therapeutic areas is expected to increase reimbursable costs as a percentage of revenue by 200 to 300 basis points over the remainder of the year [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about accelerating revenue in the second half of the year due to improved funding, fewer cancellations, and rapid project start-ups [7][10] - The management acknowledged that while the funding environment has improved, there remains uncertainty regarding future cancellations and their impact on 2026 [29][30] Other Important Information - The company repurchased approximately 1.75 million shares for $518.5 million in Q2 2025, with $826.3 million remaining under the share repurchase authorization program [12][13] - The effective tax rate for 2025 is expected to be between 18.5% and 19% [14] Q&A Session Summary Question: What are the booking expectations for the second half? - Management expects bookings to increase, with a reasonable chance of getting the book-to-bill ratio back over 1.15, depending on cancellation rates [19] Question: Can you provide information on cancellations? - Cancellations were down across the entire portfolio, with rates lower than historical averages, contributing to better-than-expected bookings and performance [20] Question: How does the increase in pass-through costs impact revenue? - The increase in pass-through costs is expected to significantly influence revenue, with a large portion of the revenue increase attributed to accelerated reimbursable cost activity [24] Question: What is the outlook for funding and demand activity? - Management noted that while funding has improved, there is still uncertainty regarding potential future downturns in demand activity [30] Question: How did intra-quarter trends evolve in Q2? - The business environment remained strong throughout Q2, with low cancellation rates contributing to a stable demand environment [35] Question: What are the dynamics around bookings and competitive win rates? - The win rate was lower in Q2 due to the presence of large projects that were lost, but the overall number of decisions made increased significantly [48] Question: What is the expected hiring trend for the second half? - The company anticipates accelerated hiring in the second half, with a focus on maintaining mid to upper single-digit growth rates for the year [85]

Core Viewpoint - Fortrea Holdings Inc. is facing a class action lawsuit for allegedly misleading investors regarding its financial projections and business model following its spin-off from Labcorp [1][3][4]. Company Overview - Fortrea is a global clinical research organization (CRO) that assists in the development of pharmaceutical and medical device products. It was spun off from Labcorp in June 2023 and had ongoing long-term projects at that time [3]. Allegations of Misleading Information - The lawsuit claims that Fortrea overestimated the revenue from its Pre-Spin Projects for 2025, overstated cost savings from phasing out transition service agreements (TSAs), and inflated its EBITDA targets for 2025, presenting an overly optimistic view of its post-spin-off business model [5]. Market Reactions and Stock Performance - On September 25, 2024, Jefferies downgraded Fortrea from Buy to Hold, citing weaknesses in the CRO model and a lack of real cost savings, leading to a stock drop of over 12% [5]. - Following the abrupt cancellation of two conferences, Baird Equity Research downgraded Fortrea to Neutral on December 6, 2024, resulting in an additional stock decline of 8% [5]. - On March 3, 2025, Fortrea reported disappointing Q4 and full-year 2024 results, admitting that its revenue and EBITDA goals for 2025 were unrealistic, causing the stock to drop more than 25% [5].

Core Viewpoint - The market anticipates Medpace (MEDP) will report a year-over-year increase in earnings driven by higher revenues in its upcoming earnings report for the quarter ended June 2025 [1][3]. Earnings Expectations - The consensus EPS estimate for Medpace is $3.00 per share, reflecting a year-over-year increase of +9.1% [3]. - Expected revenues for the quarter are $541.19 million, which is a 2.5% increase from the same quarter last year [3]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised down by 0.81%, indicating a reassessment by analysts regarding the company's earnings prospects [4]. - The Most Accurate Estimate for Medpace is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.91%, suggesting a bearish outlook from analysts [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with positive readings being more reliable [9][10]. - Medpace currently holds a Zacks Rank of 3, which complicates the prediction of an earnings beat given the negative Earnings ESP [12]. Historical Performance - In the last reported quarter, Medpace exceeded the expected earnings of $3.06 per share by delivering $3.67, resulting in a surprise of +19.93% [13]. - The company has successfully beaten consensus EPS estimates in the last four quarters [14]. Conclusion - While Medpace does not appear to be a strong candidate for an earnings beat based on current estimates, investors should consider other factors before making investment decisions [17].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortrea Holdings Inc. regarding a class action lawsuit due to alleged misleading statements and overestimations related to the company's financial projections and business model [1][3]. Summary by Sections Class Action Details - The class period for the lawsuit is from July 3, 2023, to February 28, 2025 [3]. - Allegations include that Fortrea overestimated revenue contributions from long-term projects, overstated cost savings from exiting transition services agreements, and inflated EBITDA targets for 2025 [3]. Allegations Breakdown - Fortrea allegedly overestimated the revenue from its Pre-Spin Projects for 2025 [3]. - The company is accused of overstating potential cost savings from exiting certain agreements [3]. - As a result, the company's previously announced EBITDA targets for 2025 were inflated [3]. - The viability of Fortrea's post-spin-off business model and its financial prospects were also allegedly overstated [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by August 1, 2025, to participate in potential recovery [4]. - Registered shareholders will receive updates through a portfolio monitoring software [4]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [5].

NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Fortrea Holdings Inc. ("Fortrea Holdings Inc." or the "Company") (NASDAQ: FTRE) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Fortrea Holdings Inc. investors who were adversely affected by alleged securities fraud between July 3, 2023 and February 28, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/psl ...