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Dec 31, 2023
Advantage Solutions Q4 2023 Earnings Report
Advantage Solutions reported solid fourth-quarter performance, exceeding 2023 financial guidance, and anticipates continued growth in 2024.
Key Takeaways
Advantage Solutions' Q4 2023 performance showed solid results with operating income of $46.2 million and a 2% year-over-year increase in Adjusted EBITDA. Consolidated revenues declined 2.1% to $1.1 billion but increased 3.4% excluding the impact of foreign exchange, acquisitions and divestitures.
Solid performance in the fourth quarter resulted in operating income of $46.2 million.
Adjusted EBITDA increased 2% year-over-year, and 4.4% excluding foreign exchange, acquisitions and divestitures.
Margin increased 40 basis points to 10.6%.
Management continued to execute its transformation plan, including the deconsolidation of its European joint venture, the divestiture of its foodservice businesses, and collaborations with Genpact and TCS to outsource certain administrative functions.
Forward Guidance
Management expects 2024 revenue and Adjusted EBITDA growth in the range of low single digits, excluding the in-year impact of the completed divestitures on the 2023 results.
Historical Earnings Impact
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