Thanks for your reply and valuable addition regarding MEDP.
> Q4 guidance as it looks like 3-4 quarters in a row of declining net new business
> So the backlog is melting away and further growth could be limited, right?
Based on their latest report, the company still expect to convert approximately $1.62 billion of their backlog into revenue over the next 12 months. But, yes, backlog cancellations in Q3 were above the usual range. Also, business awards decreased.
Actually, the above are reasons (in price) why I lowered their future growth.
Thanks for your reply and valuable addition regarding MEDP.
> Q4 guidance as it looks like 3-4 quarters in a row of declining net new business
> So the backlog is melting away and further growth could be limited, right?
Based on their latest report, the company still expect to convert approximately $1.62 billion of their backlog into revenue over the next 12 months. But, yes, backlog cancellations in Q3 were above the usual range. Also, business awards decreased.
Actually, the above are reasons (in price) why I lowered their future growth.