earnings
confidence high
sentiment neutral
materiality 0.70
Advantage Q2 rev $873M (-9%); net loss $101M; reaffirms FY24 low-single-digit growth
Advantage Solutions Inc.
2024-Q2 EPS reported
-$0.33
revenue$1,734,769,000
- Total revenues $873M (-9.4% y/y); ex-EU JV deconsolidation, underlying rev +1%.
- Net loss from continuing ops $113M vs $13M loss; includes ~$100M impairment for Jun Group.
- Adjusted EBITDA flat at $90M (10.3% margin); Experiential Services Adj EBITDA +40% to $22.6M.
- Full-year outlook: rev and Adj EBITDA from continuing ops to grow low single digits.
- Divestiture proceeds ~$280M; $27M used to repurchase senior notes; net debt ratio ~4.1x.