MDC Partners (MDCA) Reports Q4 EPS of $0.01 on Revenues of $307.6M

MDC Partners (NASDAQ: MDCA) reported Q4 EPS of $0.01, versus ($0.03) reported last year. Revenue for the quarter came in at $307.6 million, versus $327.7 million reported last year.

"MDC delivered its highest net income in nearly three years and $52 million of Adjusted EBITDA in the first quarter, up 31% from prior year and the strongest first quarter Adjusted EBITDA result in the company's history," said Mark Penn, Chairman and Chief Executive Officer of MDC Partners. "We continue to see a rebound from pandemic revenue lows, with year-over-year revenue growth in the Healthcare, Consumer Products and Financial client sectors. We are encouraged by the strong start to the year and maintain our outlook of 7 to 9% organic revenue growth for the year with Adjusted EBITDA of $190 million to $200 million. This momentum sets us up well for the next major step in our strategic transformation, the proposed combination of MDC and Stagwell, which we believe promises to disrupt the industry and provide value for all our stakeholders."

Frank Lanuto, Chief Financial Officer, added, "As our revenue rebounds from pandemic declines, we again delivered expanded Adjusted EBITDA margins to 16.9%, up 480 basis points from a year ago. We continued to lower our leverage, down to 4.1x, and generated $47 million in cash flow from operations in the quarter, ending with net cash of $93 million."

For earnings history and earnings-related data on MDC Partners (MDCA) click here.

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