Advantage Solutions Inc. (ADV) Misses Q1 EPS by 23c, provides outlook

Advantage Solutions Inc. (NASDAQ: ADV) reported Q1 EPS of ($0.15), $0.23 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $879 million versus the consensus estimate of $867.51 million.

Fiscal Year 2024 Outlook:

Management reaffirms its outlook for 2024 with revenues and Adjusted EBITDA growth in the range of low single digits, excluding the in-year impact of the completed divestitures on the 2023 results. Management 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. 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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