secwatch.observer — SEC 8-K summary
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Issuer:     Stagwell Inc (STGW)
CIK:        0000876883
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000876883-23-000015
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876883/000087688323000015/0000876883-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876883/000087688323000015/stgw-20230509.htm
  HTML page:      https://secwatch.observer/filing/0000876883-23-000015

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