Strong Tech Infrastructure Progress
Advantage Solutions is making significant progress on modernizing its tech infrastructure, with Phase 2 of the ERP implementation rolled out internationally without notable disruption. The complete implementation of the data platform is on track for the second half of 2025.
Improved Labor Utilization Initiatives
New processes in talent acquisition have started to yield benefits, with better hiring rates and improved staffing and execution rates in Q2. The centralized labor model initiative is expected to cover the majority of part-time labor hours in the near to medium term.
Solid Demand in Experiential Services
Despite staffing challenges, demand for Experiential Services remains strong with a 3% year-over-year growth in events per day and execution rates of approximately 93%.
Debt Reduction and Cash Management
Advantage Solutions voluntarily repurchased $20 million of debt and $1 million of shares, ending the quarter with $121 million of cash and an untapped revolving credit facility of nearly $400 million.