Advantage Solutions Q1 2024 Earnings Report
Key Takeaways
Advantage Solutions reported a 10% decline in revenues to $906 million, which increased by 1% excluding the impact of divestitures, foreign exchange, and pass-through costs. Operating income was $31.3 million, which included a gain on a divestiture. Adjusted EBITDA was $79 million, in line with expectations. Management reaffirms its 2024 outlook.
Revenues were $906 million, a 10% decline compared to the prior year, but increased 1% when excluding the impact of divestitures, foreign exchange, and pass-through costs.
Operating income was $31.3 million, including a gain on a divestiture.
Adjusted EBITDA was $79 million, which was in line with expectations.
The Company completed the sale of Adlucent on May 1, 2024, to focus on core capabilities and build a strong balance sheet.
Advantage Solutions
Advantage Solutions
Advantage Solutions Revenue by Segment
Forward Guidance
Management reaffirms its outlook for 2024 with revenues and Adjusted EBITDA growth in the range of low single digits, excluding the in-year impact of the completed divestitures on the 2023 results.
Positive Outlook
- Revenues are expected to grow in the low single digits.
- Adjusted EBITDA is expected to grow in the low single digits.
- Management plans to execute additional simplification objectives in 2024.
- Activities related to improving operating efficiencies are planned.
- Investments behind the business from a talent and technology perspective will continue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income