Stagwell Q1 revenue up 8%; net loss $1.3M but adj EBITDA +25% to $90M; reaffirms FY2024 guidance

Stagwell Inc

Revenue $670M (+8% YoY); net loss $1.3M vs $1.4M income prior year.
Adjusted EBITDA $90M (+25% YoY); margin 17% (+320 bps).
Adjusted EPS $0.16 (+14% YoY); GAAP EPS $(0.01) vs $0.00.
Net new business $66M in Q1; LTM net new $284M.
FY2024 guidance reaffirmed: organic net rev growth 5-7%, adj EBITDA $400-450M, adj EPS $0.75-0.88.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Stagwell Inc reported the three months ended March 31, 2024 results: revenue $670 million, net income $1.3 million, EPS $(0.01). Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $670 million
Net income: $1.3 million
EPS: $(0.01)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

NY, May 1, 2024 (NASDAQ: STGW) – Stagwell Inc. (“Stagwell”) today announced financial results for the three months ended March 31, 2024. FIRST QUARTER RESULTS: • Q1 Revenue of $670 million, an increase of 8% versus the prior year period. • Q1 Net Loss attributable to Stagwell Inc. Common Shareholders of $1.3 million versus Income of $1.4 million in the prior year

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Source: SEC EDGAR

accession 0000876883-24-000011

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