IPG - IGP slides after soft organic growth outlook clouds earning beat: Q4 Report

Interpublic Group of Companies (NYSE:IPG) is down 6% in early Thursday trading after the company released soft outlook for next year's organic growth.  CEO Philippe Krakowsky said "As we look ahead, we anticipate that 2022 will be another year of strong growth, on top of our multi-year, industry-leading performance. As such, we are targeting full-year organic growth of 5% in 2022." He added, "With that level of growth, we expect that in 2022 we will consolidate the significant gains achieved in adjusted EBITA margin over the past two years, at a level of approximately 16.6%." That comes in the company's fourth quarter earnings results where FY21 organic net revenue growth is reported at 11.9%. FY21 revenue increased 12.9% Y/Y to $9.11B. Q4 Results Highlights: Revenue of $2.55B (+11.8% Y/Y) beats consensus by $40M; Organic net revenue growth was 11.7%, comprising of 12.1% increase in the U.S. and 11.0% in International markets. Adjusted EBITA before restructuring charges was $491.8M

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IGP slides after soft organic growth outlook clouds earning beat: Q4 Report