2023-05-09 07:30:48 ET
- Stagwell press release ( NASDAQ: STGW ): Q1 Non-GAAP EPS of $0.13 misses by $0.07 .
- Revenue of $622M (-3.3% Y/Y) misses by $24.57M . Organic net revenue decline of 3%, and excluding advocacy of 1%, versus the prior year period.
- First quarter Adjusted EBITDA of $72 million, a decrease of 29% versus the prior year period.
- 2023 financial guidance is as follows: Organic Net Revenue growth of 7.5% – 10%; Organic Net Revenue growth ex-Advocacy of 10% – 14%; Adjusted EBITDA of $450 million – $490 million; Free Cash Flow Conversion of 50% – 60%; Adjusted EPS of $0.90 – $1.05 vs. consensus of $0.94.
For further details see:
Stagwell reports misses Q1 top and bottom consensus; reaffirms FY23 outlook