Interpublic Q3 Earnings Surpass Street View, Boosts FY21 Outlook

Interpublic Group Of Companies Inc IPG reported third-quarter FY21 net revenue growth of 15.7% year-on-year, to $2.26 billion, beating the analyst consensus of $2.17 billion.
Total revenue, including billable expenses, totaled $2.54 billion, up 19.6% from $2.13 billion last year.
Organic net revenue growth was 15.0% versus last year, with the two-year organic increase at 10.7% relative to 3Q19.
Organic net revenue increased 14.7% in the U.S. and 15.4% internationally.
Total operating expenses increased 16.7% to $2.19 billion. Selling, administrative, and engineering expenses were $32.2 million.
Operating income for the quarter grew 41.4% to $351.5 million, with an operating margin of 15.5%.
Adjusted EBITA before restructuring charges amounted to $369.5 million, with a margin of 16.3%.
Adjusted EPS of $0.63 beat the analyst consensus of $0.49.
Interpublic held cash and equivalents totaled $2.49 billion as of September 30, 2021.
Outlook: Interpublic sees FY21 organic growth of 11.0% (prior view 9% - 10%) and an adjusted EBITA margin of about 16.8% (previous outlook 16%).
Price action: IPG shares are trading lower by 2.79% at $36.95 on the last check Thursday.

Momentum29.11

Growth32.13

Quality74.89

Value41.01

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