Business
STAGWELL INC. (NASDAQ: STGW) REPORTS RESULTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024
Revenue Growth of 6%, Led by 42% Growth in Advocacy Net Loss Attributable to Stagwell Inc. Common Shareholders of $3 million Adjusted EBITDA of $86 million;
About this update from Stagwell Inc.
[{"type":"text","content":"Revenue Growth of 6%, Led by 42% Growth in Advocacy\nNet Loss Attributable to Stagwell Inc. Common Shareholders of $3 million\nAdjusted EBITDA of $86 million; Adjusted EBITDA Margin of 16%\nEPS of $(0.03); Adjusted EPS of $0.14\nAnnounces Record Net New Business Led by Largest New Business Win\nNet New Business of $113 million in Q2; LTM Net New Business of $324 million\nReaffirm Guidance for 2024 of Organic Net Revenue Growth of 5% to 7%; Adjusted EBITDA of $400 million to $450 million; Free Cash Flow Conversion of ~50%\nNEW YORK, Aug. 1, 2024 /PRNewswire/ -- (NASDAQ: STGW) – Stagwell Inc. (\"Stagwell\") today announced financial results for the three and six months ended June 30, 2024.\n\n \n \n\n\n\n\n\n\n \nSECOND QUARTER RESULTS:\nQ2 Revenue of $671 million, an increase of 6% versus the prior year period; H1 Revenue of $1.3 billion, an increase of 7% versus the prior year periodQ2 Net Loss attributable to Stagwell Inc. Common Shareholders of $3 million versus $3 million in the prior year period; H1 Net Loss attributable to Stagwell Inc. Common Shareholders of $4 million versus Income of $2 million in the prior year periodQ2 Adjusted EBITDA of $86 million, a decrease of 6% versus the prior year period; H1 Adjusted EBITDA of $176 million, an increase of 8% versus the prior year periodQ2 Adjusted EBITDA Margin of 16% on net revenue; H1 Adjusted EBITDA Margin of 16% on net revenue.Q2 Earnings Per Share Attributable to Stagwell Inc. Common Shareholders of $(0.03) versus $(0.03) in the prior year period; H1 Earnings Per Share Attributable to Stagwell Inc. Common Shareholders of $(0.04) versus $(0.01) in the prior year period.Q2 Adjusted Earnings Per Share attributable to Stagwell Inc. Common Shareholders of $0.14 versus $0.18 in the prior year period; H1 Adjusted Earnings Per Share attributable to Stagwell Inc. Common Shareholders of $0.30 versus $0.31 in the prior year period.Net new business wins of $113 million in the second quarter, last twelve-month net new business wins of $324 million.Q2 Net Revenue of $554 million, an increase of 2% versus the prior year period; H1 Net Revenue of $1.1 billion, an increase of 2% versus the prior year periodQ2 Organic Net Revenue increased 1.2% versus the prior year period; H1 Organic Net Revenue increased 1.5% versus the prior year periodAnnounces Record Net New Business of $113 million in...