Advantage Solutions beats 2023 guidance; revenue up 4.3%, adj EBITDA $424M; guides low-single-digit growth for 2024

Advantage Solutions Inc.

2023-FY EPS reported -$0.20 revenue$4,224,846,000

FY 2023 revenue $4.2B (+4.3% YoY); operating income $76.2M; net loss $60.3M.
Full-year Adjusted EBITDA $424.3M (-2.7% YoY but ahead of prior guidance).
Q4 revenue $1.08B (-2.1% YoY); Adj EBITDA $114.9M (+2% YoY, margin 10.6%).
Foodservice divestiture for ~$100M cash + 7.5% stake; European JV deconsolidated to 49.6% minority.
2024 guidance: low single-digit growth in rev & Adj EBITDA; capex $90-110M; net leverage target <3.5x.

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. reported the fiscal full year ended December 31, 2023 results: revenue $4.2 billion, net income $60.3 million net loss.

Period: the fiscal full year ended December 31, 2023
Revenue: $4.2 billion
Net income: $60.3 million net loss
Result: reported results

Exact text from the filing

--- EX-99.1 Advantage Solutions exceeded 2023 financial guidance with solid fourth-quarter performance and expects continued growth in 2024 • 2023 consolidated revenues were $4.2 billion, a year-over-year increase of 4.3%, and operating income was $76.2 million. Excluding foreign exchange, acquisitions and divestitures, revenues increased 6.8%, and Adjusted

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Source: SEC EDGAR

accession 0000950170-24-022633

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