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Sep 30, 2020
Stagwell Q3 2020 Earnings Report
Estimated Revenue:$0
-100.0% YoY
Estimated EPS:$0
Key Takeaways
MDC Partners Inc. announced financial results for Q3 2020, demonstrating resilience amidst the COVID-19 pandemic. The company achieved 9% sequential revenue growth and a 49% sequential increase in Adjusted EBITDA from the previous quarter. Net new business wins totaled $31.9 million.
Revenue reached $283.4 million, a 9% sequential increase from Q2 2020.
Net income attributable to MDC Partners common shareholders was $0.4 million, compared to a net loss of $5.1 million in the prior year.
Adjusted EBITDA increased by 9.9% to $54.1 million, with a margin of 19.1%.
Net New Business wins totaled $31.9 million.
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.
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