Focus Financial reports Q2 adj. EPS with tax adjustments 90c, consensus 96c

Reports Q2 revenue $583.8M, consensus $577.9M. “On February 27, 2023, Focus Inc. entered into the Merger Agreement for Focus to be acquired by affiliates of CD&R in an all-cash transaction. Funds managed by Stone Point Capital will retain a portion of their investment in Focus and provide new equity financing as part of the Merger. If the Merger is consummated, Focus will cease to be publicly-traded. At a Special Meeting held on July 14, 2023, the shareholders of the company, including a majority in voting power of the outstanding shares of common stock held by Unaffiliated Stockholders, adopted and approved the Merger Agreement. Completion of the Merger is subject to other customary closing conditions. The Merger is expected to close in the third quarter of 2023. However, the Company cannot assure completion of the Merger by any particular date, if at all or that, if completed, it will be completed on the terms set forth in the Merger Agreement… Due to the pending Merger, Focus will not be hosting an earnings conference call or take questions from the investment community,” the company stated.