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| John Wren |
Omnicom CEO John Wren reports Q3 revenues dropped 11.5 percent to $3.2B due to the negative impact of the COVID-19 pandemic. Organic revenues fell 11.7 percent.
The FleishmanHillard, Ketchum, Marina Maher Communications, Porter Novelli, Mercury and Cone spearheaded PR group posted a 4.3 percent dip in Q3 revenues to $322.8M and a 3.4 percent drop on an organic basis.
Wren said travel, lodging, entertainment, energy, oil & gas, non-essential retail and automotive sectors took the hardest hit from the virus.
He added that though healthcare, pharmaceuticals, technology, telecommunications, financial and consumer products areas “fared relatively well to date, conditions are volatile and economic uncertainty cuts across all clients, industries and geographies.”
Looking ahead, Wren said the revenue shortfalls suffered during the Q2 and Q3 are expected to continue through the rest of the year.
That reduced revenue “could adversely impact our ongoing results of operations and financial position and the effects could be material,” he said.
WPP tops the Financial Times’ list of the biggest stock market losers for 2025. The share price of the owner of Burson and Ogilvy has plummeted 60 percent so far this year.
FTI Consulting handles media for Modivcare Inc., the Denver-based provider of non-emergency healthcare services. as a Texas federal bankruptcy court confirms its Chapter 11 restructuring plan.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
