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| Jay Leveton |
Stagwell Marketing Group reported a 1.8 percent dip in Q1 revenues to $181.2M and a 63.2 percent decline in net income to $4.6M due to a tough comparison to a political year and the continued impact of COVID-19 on operations.
Organic revenue declined 6.9 percent.
Stagwell attributes the bulk of its revenue decline to a drop in business from its digital content group, including its global travel marketing brand.
CEO Jay Leveton expects the recovery of the travel and entertainment business to “begin in earnest in Q2 with the successful rollout of the vaccines in the US.”
The communications, public affairs and advocacy group, which includes SKDKnickerbocker, Targeted Victory and Wye Communications, posted an $8.9M drop in Q1 revenues.
CFO Ryan Greene noted that Stagwell chalked up 10.2 percent Q1 EBITDA growth compared to a year ago. "However, when comparing the communications, public affairs and advocacy segment's Q1 results against Q1 2019, the most recent off-cycle period, and include pre-acquisition results, Stagwell reported 41 percent adjusted EBITDA growth," 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.
