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Sep 30, 2023
Advantage Solutions Q3 2023 Earnings Report
Advantage Solutions reported third quarter results that exceeded consensus estimates, driven by revenue growth and strategic initiatives.
Key Takeaways
Advantage Solutions reported a 4.3% year-over-year increase in revenue to $1.1 billion for the third quarter of 2023. The company's focus on strengthening its culture, simplifying operations, and improving financial discipline contributed to the positive results. Adjusted EBITDA for the quarter was $113.1 million.
Revenues for the third quarter grew 4.3% year-over-year, reaching $1.1 billion.
Marketing segment revenues increased by 15.5% year-over-year, driven by the recovery of in-store sampling and demonstration services.
Operating income for the quarter was $16.0 million.
Net loss for the quarter was $22.6 million, compared to a net income of $23.2 million in the third quarter of 2022.
Advantage Solutions
Advantage Solutions
Forward Guidance
The company now expects Adjusted EBITDA around the upper end of the guidance range of $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
- Further investments behind talent in the fourth quarter of 2023 and beyond
- Focus on maximizing returns for equity holders