$MEDP (-1,44%) Reports Q3 2024

Sales: 533M vs 541M expected (Miss)

EBIT: 112M vs 101M expected (Beat)

Income: 96M vs 90M expected (Beat)

New Business Awards 533M (Miss) leads to Book-To-Bill of 1.00 down from 1.2-1.3 Range YoY

Outlook for FY24:

Rev: 2.11B vs 2.14B expected (Miss)

EBITDA: 460M vs 450M expected (Beat)

Income: 381M vs 371M expected (Beat)

Expectations were apparently very high. The company is more profitable than expected with less growth. Book-To-Bill is approaching 1. A value below 1 signals a shrinking business, but the backlog is almost 3B, which makes MEDP booked out for a year. So there is still enough time to generate new growth