MDC Partners (MDCA) Raises Full-Year 2021 Guidance
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(NASDAQ: MDCA) – MDC Partners Inc. ("MDC Partners" or the "Company") announced today that it has raised its full-year 2021 guidance for organic revenue growth and Adjusted EBITDA.
"MDC continues to experience strong demand across its business following its highest first quarter Adjusted EBITDA in Company history," said Mark Penn, Chairman and Chief Executive Officer of MDC Partners. "We are encouraged by the continued strength through the first half of the year as we recover from the economic effects of the pandemic. We are raising our full-year 2021 outlook to a range of 9% to 11% organic revenue growth with Adjusted EBITDA between $200 million to $210 million. This compares to our prior guidance range of 7% to 9% organic revenue growth with Adjusted EBITDA between $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."
Financial Outlook
2021 financial guidance is as follows:
2021 Outlook Commentary * | |
Organic Revenue Growth | We expect approximately 9% to 11% growth in organic revenue. |
Foreign Exchange Impact, net | No estimated impact at this time. |
Impact of Non-GAAP Acquisitions (Dispositions), net | Our current expectations are that the impact of acquisitions, net of disposition activity, will have no material impact on revenue. |
Adjusted EBITDA | The Company expects to complete fiscal year 2021 with approximately $200 million to $210 million of Adjusted EBITDA, approximately 13 to 18% above prior year. |
* The Company has excluded a quantitative reconciliation with respect to the Company's 2021 guidance under the "unreasonable efforts" exception in Item 10(e)(1)(i)(B) of Regulation S-K See "Non-GAAP Financial Measures" below for additional information. | |
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