Advantage Solutions Q3 2022 Earnings Report
Key Takeaways
Advantage Solutions reported a 13.2% increase in revenue for Q3 2022 compared to Q3 2021. However, operating income, net income, and Adjusted EBITDA decreased due to investments in wages and macroeconomic pressures. The company is updating its fiscal year 2022 Adjusted EBITDA guidance range to $430 million to $440 million.
Revenues increased by 13.2% to $1,051.1 million compared to the third quarter of 2021.
Operating income decreased by 28.6% to $46.8 million compared to the third quarter of 2021.
Net income decreased by 4.5% to $23.2 million compared to the third quarter of 2021.
Adjusted EBITDA decreased by 11.6% to $118.3 million compared to the third quarter of 2021.
Advantage Solutions
Advantage Solutions
Forward Guidance
The Company is updating its fiscal year 2022 Adjusted EBITDA guidance range to $430 million to $440 million.
Positive Outlook
- Strong customer demand.
- Sampling and demonstration business will continue to build back in 2023.
Challenges Ahead
- Unprecedented tight labor market.
- Increasing inflationary pressures.
- Broad macro-economic uncertainty are challenging consumers, retailers and CPG brands, alike.