Advantage Solutions exceeded 2023 financial guidance with solid fourth-quarter performance and expects continued growth in 2024 [Yahoo! Finance]
Advantage Solutions Inc. - Class A (ADV)
Company Research
Source: Yahoo! Finance
Excluding foreign exchange, acquisitions and divestitures, revenues increased 6.8%, and Adjusted EBITDA declined 1.7% to $424.3 million but finished ahead of previous guidance. Solid performance in the fourth quarter resulted in operating income of $46.2 million and a 2% year-over-year increase in Adjusted EBITDA, which increased by 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. Disciplined capital allocation with debt and share repurchases of $168.2 million and $6.4 million, respectively in 2023. Management announced 2024 guidance with expectations for low single-digit growth in consolidated revenues and Adjusted EBITDA. IRVINE, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE)
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Earnings
- 2/29/24 - Miss
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Analyst Actions
- 3/1/24 - TheStreet
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Sec Filings
- 5/2/24 - Form 4/A
- 5/2/24 - Form 4/A
- 5/2/24 - Form 4/A
- ADV's page on the SEC website