Advantage Solutions Q1 revenue up 10.6% to $1.01B, net loss of $47.7M; reaffirms FY2023 EBITDA guidance

Advantage Solutions Inc.

2023-Q1 EPS reported -$0.15 revenue$1,011,983,000

Revenue $1.012B, up 10.6% YoY (+12.1% ex-FX); Marketing segment up 23% on in-store sampling recovery.
GAAP net loss $47.7M vs net income $17.5M YoY; operating loss $8.3M vs income $23.0M.
Adjusted EBITDA $92.1M, down 4.8% YoY; FY2023 Adj. EBITDA guidance reaffirmed at $400-420M.
Voluntarily repurchased ~$2M of term loan at discount; net leverage ~4.5x; hedged ~84% of debt via collar.
CEO Dave Peacock completed first 90 days; executive team built out with consumer/retail leaders.

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 0.9

Advantage Solutions Inc. updated its Fiscal Year 2023 guidance (reaffirmed).

Period: Fiscal Year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The Company is reiterating its guidance for fiscal 2023 with Adjusted EBITDA anticipated to range from $400 million to $420 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Advantage Solutions Inc. reported First Quarter 2023 results: revenue $1,012.0 million, net income Net loss of $47.7 million.

Period: First Quarter 2023
Revenue: $1,012.0 million
Net income: Net loss of $47.7 million
Result: reported results

Exact text from the filing

Revenues were $1,012.0 million for the first quarter of 2023, representing an increase of $97.2 million, or 10.6% from the first quarter 2022 revenues of $914.8 million. Excluding unfavorable foreign exchange rates, revenues increased by $110.3 million, or 12.1%. • Operating loss of $8.3 million for the first quarter of 2023, representing a decrease of $31.3 million from the first quarter 2022 operating income of $23.0 million. 1 • Net loss of $47.7 million for the first quarter of 2023, representing a decrease of $65.2 million from the first quarter 2022 net income of $17.5 million.

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Source: SEC EDGAR

accession 0000950170-23-020061

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