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Jun 30, 2020
Stagwell Q2 2020 Earnings Report
Revenue declined due to reduced client spending, but cost reductions and restructuring actions helped preserve economics and expand margins.
Key Takeaways
MDC Partners Inc. reported a decline in revenue for Q2 2020 due to the impact of COVID-19, but implemented cost reductions and restructuring actions that helped to maintain profitability. The company maintained financial flexibility, extended its credit facility, and reduced leverage.
Revenue of $259.7 million in the second quarter, a decline of 28.3% year-over-year.
Organic revenue declined 26.4% in the second quarter.
Net loss attributable to MDC Partners common shareholders was $4.1 million in the second quarter.
Adjusted EBITDA for the second quarter was $36.2 million, a decline of 22.1% year-over-year, with an Adjusted EBITDA Margin of 13.9%.
Revenue by Segment
Forward Guidance
Given the uncertainties in the global business environment arising from the COVID-19 pandemic, the Company is not providing a 2020 outlook for Revenue and Covenant EBITDA at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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