Stagwell Q3 revenue $618M (-7% YoY), Adjusted EBITDA $102M (-12%), guides FY EBITDA $390-410M

Stagwell Inc

Q3 net revenue $535M (-4% YoY); organic net revenue declined 7%.
International net revenue up 25%, led by EMEA (+30%), LATAM (+18%), APAC (+12%).
Net income $3M vs $35M prior year; Adjusted EPS $0.18.
Completed sale of non-core ConcentricLife for $245M; LTM net new business >$250M.
FY 2023 guidance: organic net revenue decline ~4%, Adjusted EBITDA $390-410M, Adjusted EPS $0.73-0.78.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Stagwell Inc updated its the three and nine months ended September 30, 2023 guidance (reaffirmed).

Period: the three and nine months ended September 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On November 2, 2023, Stagwell Inc. (the “Company”) issued an earnings release reporting its financial results for the three and nine months ended September 30, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Stagwell Inc reported the three and nine months ended September 30, 2023 results: revenue Revenue of $618 million, net income Net Income of $3 million, EPS Q3 earnings per share attributable to Stagwell Inc. common shareholders of $0.003. Guidance reaffirmed.

Period: the three and nine months ended September 30, 2023
Revenue: Revenue of $618 million
Net income: Net Income of $3 million
EPS: Q3 earnings per share attributable to Stagwell Inc. common shareholders of $0.003
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Q3 revenue of $618 million, a decrease of 7% versus the prior year period; YTD revenue of $1,872 million, a decrease of 5% versus the prior year period

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Source: SEC EDGAR

accession 0000876883-23-000025

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