Advantage Solutions Q3 revenue up 13% but misses earnings; cuts FY22 Adj. EBITDA guidance to $430-440M

Advantage Solutions Inc.

2022-Q3 EPS reported $0.14 revenue$2,946,979,000

Q3 revenue $1,051.1M (+13.2% YoY); operating income $46.8M (-28.6%); net income $23.2M (-4.5%).
Adjusted EBITDA $118.3M, -11.6% YoY; lowered FY22 guidance to $430-440M from $490-510M.
Labor shortages, wage inflation, and macro headwinds slowing expected rebound; pivot to de-leveraging balance sheet.
Marketing segment (+22% YoY) driven by sampling/demo recovery; sales segment (+8%) from retail merchandising.
Management expects sampling/demo business to continue rebuilding in 2023; less emphasis on M&A near term.

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

Advantage Solutions Inc. reported the three months ended September 30, 2022 results: revenue $1,051.1 million, net income $23.2 million. Guidance lowered.

Period: the three months ended September 30, 2022
Revenue: $1,051.1 million
Net income: $23.2 million
Guidance: lowered
Result: reported results

Exact text from the filing

ahead, I remain confident that Advantage remains in a strong position to drive profitable growth as market conditions normalize.” Third Quarter 2022 Highlights • Revenues were $1,051.1 million for the third quarter of 2022, representing an increase of $122.3 million, or 13.2%, from the third quarter 2021 revenues of $928.8 million. • Operating income was $46.8 million

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Source: SEC EDGAR

accession 0000950170-22-023863

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