Advantage Solutions Inc. (ADV) Misses Q4 EPS by 18c, offers outlook

Advantage Solutions Inc. (NASDAQ: ADV) reported Q4 EPS of ($0.05), $0.18 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.13 billion.
Outlook:
Management announced 2024 guidance with expectations for low single-digit growth in consolidated revenues and Adjusted EBITDA.
In light of growing business momentum and improving market dynamics, management expects 2024 revenue and Adjusted EBITDA growth in the range of low single digits, excluding the in-year impact of the completed divestitures on the 2023 results. The company plans to execute additional simplification objectives in 2024, including activities related to improving operating efficiencies and investments behind the business from a talent and technology perspective. As a result, capital expenditures are expected to be $90 million to $110 million with a tapering in the spending planned for 2025 and a return to historical spending levels in 2026. The company also establishes a long-term net leverage target below 3.5x LTM Adjusted EBITDA. Additional guidance metrics can be found in the company’s supplemental earnings presentation.

For earnings history and earnings-related data on Advantage Solutions Inc. (ADV) click here.

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