Advantage Solutions today reported third-quarter revenues of $939.3 million, up 2.4% from the same period a year ago excluding the impact related to the deconsolidation of its European joint venture, bolstered by a strong performance from the company\u2019s experiential and retailer services businesses. <\/p>\n
Company executives reaffirmed financial guidance for the full year, with revenues and adjusted earnings before income taxes, depreciation and amortization (EBITDA) from continuing operations projected to grow low single digits.<\/p>\n
Despite soft market conditions for many of the retailers and consumer packaged goods brands that Advantage serves, CEO Dave Peacock said the company\u2019s focus on providing differentiated capabilities through improved processes and technologies is driving better outcomes for clients, regardless of market conditions.<\/p>\n
\u201cWe have taken significant actions to simplify the business, streamline operations and processes, and improve financial discipline,\u201d Peacock told Wall Street analysts and investors on the company’s quarterly earnings call Thursday.<\/p>\n
As a result, he said, Advantage is poised to enhance its market leadership while positioning the company to deliver long-term, profitable growth. These measures reflect the company\u2019s commitment to business growth strategies<\/strong> rooted in operational discipline and client-centric innovation.<\/p>\n In the quarter, Advantage reported adjusted EBITDA of $101 million, an 8.1% increase compared to the same period a year ago. <\/p>\n The company reported a third-quarter net loss from continuing operations of $37.3 million, compared to a net loss of $29.6 million for the same period a year ago. <\/p>\n Advantage also said it reduced debt in the quarter by $80 million, continuing toward its long-term objective of reducing Net Debt to Adjusted EBITDA to less than 3.5 times. <\/p>\n Advantage is modernizing technology to drive efficiencies, unlock value for clients and enhance its competitive advantage, Peacock said on the call with analysts.<\/p>\n \u201cOur market position and tech tools give us a unique vantage point on the industry,\u201d Peacock said. \u201cWe have access to performance insights at multiple levels down to retailer, location aisle and shelf.\u201d <\/p>\n Initiatives include:<\/p>\n \u201cThis is a great opportunity to drive traffic into stores with a workforce that can execute on the ground at scale \u2014 physically placing promos and signage to help brands break through and drive conversion at the shelf,\u201d Peacock said.<\/p>\n Branded Services<\/strong>Despite a soft CPG market, the team expanded relationships, notably with a start-up energy beverage client now leveraging headquarter sales, e-commerce, and order-to-cash services. \u201cWe are discovering more and more opportunities to cross-sell our capabilities,\u201d Peacock said.<\/p>\n Experiential Services<\/strong>A double-digit increase in events drove an 11% YoY revenue gain. Highlights include a new fragrance program with a major department store and future innovation in creative production for spring 2025.<\/p>\n Retailer Services<\/strong>The team completed 65 remodels for a national grocery chain and signed a deal to build a private brand program for a major convenience store chain.<\/p>\n \u201cOur long-term success will come from our 70,000 dedicated and passionate teammates,\u201d Peacock said. \u201cWe are grateful for their efforts to do more as a strategic partner for our clients.\u201d<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Advantage Solutions today reported third-quarter revenues of $939.3 million, up 2.4% from the same period a year ago excluding the impact related to the deconsolidation of its European joint venture, bolstered by a strong performance from the company\u2019s experiential and retailer services businesses. Company executives reaffirmed financial guidance for the full year, with revenues and […]<\/p>\n","protected":false},"featured_media":1028,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"mrktblog-category":[42],"class_list":["post-2028","mrktblog-posts","type-mrktblog-posts","status-publish","format-standard","has-post-thumbnail","hentry","mrktblog-category-press"],"acf":[],"yoast_head":"\nFinancial Highlights and Long-Term Focus<\/h2>\n
Strategic Investment in Technology and Tools<\/h3>\n
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Performance by Business Unit<\/h2>\n
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