2023-08-08 07:51:02 ET
- Stagwell press release ( NASDAQ: STGW ): Q2 Non-GAAP EPS of $0.16 misses by $0.05 .
- Revenue of $632.27M (-6.0% Y/Y) misses by $45.69M .
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Q2 net new business of $75 million, bringing LTM net new business to record $256 million.
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International revenue grew 9% led by particularly strong growth in Asia-Pacific of 17%
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Financial Outlook: 2023 financial guidance is as follows:
- Organic Net Revenue growth of 0% – 2%.
- Adjusted EBITDA of $410 million – $440 million
- Free Cash Flow Conversion of 50% – 60%
- Adjusted EPS of $0.76 - $0.85 vs. consensus of $0.93.
For further details see:
Stagwell misses Q2 top and bottom line estimates; adjusts FY23 outlook