Advantage Solutions Q2 2023 Earnings Report
Key Takeaways
Advantage Solutions reported a 5.7% increase in revenue, reaching $1.0 billion, and Adjusted EBITDA of $104.2 million, a 3.8% decrease year-over-year. The company is focused on strengthening its culture, simplifying operations, and improving financial discipline to drive long-term, profitable growth.
Revenues for the second quarter were $1,037.1 million, up $56.0 million, or 5.7%, from second quarter 2022 revenues of $981.1 million.
Excluding the impact of unfavorable foreign exchange rates and acquisitions / divestitures, revenues increased 7.7%.
Operating income in the quarter was $22.3 million, compared with operating income of $28.3 million in the second quarter of 2022.
Net loss in the quarter was $7.8 million compared with net income of $3.7 million in the second quarter of 2022.
Advantage Solutions
Advantage Solutions
Advantage Solutions Revenue by Segment
Forward Guidance
The Company is reiterating its guidance for fiscal 2023 with Adjusted EBITDA anticipated to range from $400 million to $420 million, including the impact of completed divestitures.
Positive Outlook
- Continued realization of pricing
- Growth in in-store sampling and demonstration events
- Further investments behind technology and talent
Revenue & Expenses
Visualization of income flow from segment revenue to net income