U.S. Markets closed

Medpace misses 1Q profit forecasts

CINCINNATI (AP) _ Medpace Holdings Inc. (MEDP) on Monday reported first-quarter profit of $8.4 million.

The Cincinnati-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 34 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The provider of outsourced clinical development services posted revenue of $106.6 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $97.4 million.

Medpace expects full-year earnings in the range of $1.30 to $1.40 per share.

Medpace shares have fallen 10 percent since the beginning of the year.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MEDP at https://www.zacks.com/ap/MEDP

_____

Keywords: Medpace, Earnings Report