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Jun 30, 2024
Interpublic Group Q2 2024 Earnings Report
IPG reported a solid second quarter, marked by growth acceleration and margin expansion.
Key Takeaways
Interpublic Group reported a moderate acceleration of growth and margin expansion in the second quarter of 2024. Organic growth before billable expenses was 1.7%, bringing first-half organic growth to 1.5%. The adjusted EBITA margin improved to 14.6%.
Second-quarter organic growth before billable expenses was 1.7%, with first-half organic growth at 1.5%.
Adjusted EBITA margin for the second quarter was 14.6%, up 40 basis points year-over-year.
Diluted earnings per share were $0.57 as reported, and $0.61 as adjusted.
The company repurchased 2.2 million shares during the quarter, returning $68 million to shareholders.
Forward Guidance
IPG expects to achieve approximately 1% organic growth for the full year and continues to target an adjusted 2024 EBITA margin of 16.6%.
Positive Outlook
- Data and tech-driven media offerings positioned for continued strong performance.
- Specialist healthcare marketing expertise expected to maintain growth.
- PR and experiential marketing capabilities anticipated to remain strong.
- Focus on new business pipeline.
- Acceleration of new capabilities in areas such as retail media and commerce.
Challenges Ahead
- Modest incremental uncertainty in the macro environment.
- Uncertainty in domestic consumer sentiment.
- Challenges faced by certain agencies may weigh on results.
- Shift in the media landscape to principal buying could lead to losses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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