Stagwell Reports Q1 2023 Revenue of $622M, Adjusted EBITDA of $72M, Reaffirms Full-Year Guidance

Stagwell Inc

Stagwell reported Q1 2023 revenue of $622 million, a 3% decrease year-over-year, and net revenue of $522 million, a 1% decrease.
Adjusted EBITDA for Q1 2023 was $72 million, down 29% from prior year, but results aligned with management expectations.
The company reaffirmed 2023 guidance: organic net revenue growth 7.5%-10%, adjusted EBITDA $450M-$490M, and adjusted EPS $0.90-$1.05.
Stagwell announced a share repurchase agreement to buy 23.3 million Class A shares from AlpInvest, reducing total shares by 8%.
Net new business wins totaled $53 million in Q1 and $212 million on a trailing twelve-month basis.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Stagwell Inc reported three months ended March 31, 2023 results: revenue $622 million, net income $0.4 million, EPS $0.13. Guidance reaffirmed.

Period: three months ended March 31, 2023
Revenue: $622 million
Net income: $0.4 million
EPS: $0.13
Guidance: reaffirmed
Result: reported results

Exact text from the filing

STAGWELL INC. (NASDAQ: STGW ) REPORTS RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2023 Revenue of $622 Million Adjusted EBITDA of $72 million First Quarter Results in line with Management Expectations Reaffirms 2023 Full Year Guidance

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Source: SEC EDGAR

accession 0000876883-23-000015

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