Advantage Solutions Inc ( (ADV) ) has released its Q3 earnings. Here is a breakdown of the information Advantage Solutions Inc presented to its investors.
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Advantage Solutions Inc. is a leading business solutions provider in North America, uniquely positioned at the intersection of consumer goods manufacturers and retailers, offering omnichannel retail solutions powered by data and technology.
Advantage Solutions Inc. announced its financial results for the third quarter of 2024, reporting revenue and Adjusted EBITDA growth despite a challenging investment year. The company remains focused on its transformation initiatives aimed at enhancing core service capabilities and achieving greater operational efficiency.
In the third quarter of 2024, Advantage Solutions reported revenues of $939.3 million, a decrease from $1,019.7 million in the previous year. Despite this, organic revenues rose by approximately 2%, driven primarily by the strong performance of Experiential Services, which saw an 11% increase in revenues and a 40.5% rise in Adjusted EBITDA. Additionally, the company reported an 8.1% increase in Adjusted EBITDA, amounting to $101 million, and continued its disciplined capital allocation strategy with significant debt and share repurchases.
The company remains committed to improving its performance, aiming for low single-digit growth in both revenues and Adjusted EBITDA for the full year of 2024. Advantage Solutions’ strategic focus includes ongoing enhancements to its service capabilities and operational efficiencies to better serve its clients.
Looking forward, Advantage Solutions is dedicated to executing its strategic initiatives and achieving its financial guidance for 2024, with continued efforts to optimize its operations and deliver value to its stakeholders.
