Reports Q4 revenue $708M, consensus $701.29M. "Stagwell closed out 2022 with industry-leading double-digit growth, strong margin expansion, record free cash flow, record earnings per share, and a net debt ratio significantly below our target. We promised to transform marketing, and we have built game-changing AI and AR-driven products as we continue to grow and transform both our business and the industry," said CEO Mark Penn. "We look forward to another year of double-digit growth outside of our advocacy businesses in 2023, continuing our momentum." CFO Frank Lanuto commented: "The company reported a record $708M of revenue in Q4, a 16% increase over the prior year and Adjusted EBITDA of $123M. Adjusted EBITDA margin as a percentage of net revenue rose to 21.1% for the quarter and 20.3% for the year as a result of careful cost management. Free cash flows rose to $270M driving down the company’s net leverage ratio to 2.17x."
Published first on TheFly
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