MDC's Q2 Revenue Slips 2.8%

Fri., Aug. 3, 2018

By Kevin McCauley

Scott Kauffman

MDC Partners reported a 2.8 percent second-quarter revenue decline to $380M and a plunge in net income to $1.1M from $8M. Organic growth dropped 1.7 percent.

Six-month revenue dropped 3.9 percent to $706.7M. Net loss widened to $30.1M from $1.7M.

CEO Scott Kauffman said 2018 "continues to be challenging."

To improve financial performance, the firm is reviewing its portfolio of agencies and selectively investing in talent and higher growth strategic offerings.

Kauffman expects full-year organic growth to fall in the 1 percent to 3 percent range.

MDC's PR firms include Hunter PR, Allison+Partners, Sloane & Co and KWT Global, which was formerly known as Kwittken.

Category: Financial Management

More Financial Management posts from O'Dwyer's:

•	WPP's PR Unit Slips 5.5% in Q1 Thu., Apr. 25, 2024 WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.

•	Interpublic Posts Flat Q1 Growth Wed., Apr. 24, 2024 Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets. Operating income fell 2.2 percent to $184.2M.

•	How the Top Firms Stay at the Top Tue., Apr. 23, 2024 Why financial planning always plays a crucial role in every PR firm’s success.

•	Omnicom Posts 5.4% Q1 Growth Wed., Apr. 17, 2024 Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.

•	Public Policy Holding Co. Posts 24% Growth Wed., Mar. 13, 2024 Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.