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Jun 30, 2023
Advantage Solutions Q2 2023 Earnings Report
Advantage Solutions reported strong company performance and advanced its transformation journey.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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