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| Mark Penn |
Stagwell’s Mark Penn reports Q3 revenue fell 7 percent to $617.6M and net income declined to $653K from $10.6M a year ago.
He anticipates a return to growth over the next two quarters as tech spending perks up, and the entertainment and auto sectors rebound from strikes.
Penn is ready for a “strong 2024 as the political cycle kicks in again and as we introduce our cutting-edge AI products within the Stagwell marketing cloud.”
The company on Oct. 31 bolstered its balance sheet via the divestiture of ConcentricLife for $245M cash.
Penn called that integrated health marketing agency “a non-core asset.”
Stagwell followed up that divestiture with the $15M acquisition of Movers and Shakers LLC, provider of social media marketing solutions.
Penn expects Stagwell will report a 4 percent decline in organic net revenue for full-year 2023, an improvement from the Q3 7 percent dip.
Stagwell owns Allison+Partners, SKDK, Sloane & Co., KWT Global and Hunter.
WPP CEO Cindy Rose unveiled “Elevate 28,” a strategic plan to simplify the troubled company, which reported a 5.4 percent drop in 2025 revenues to $13.6B.
Omnicom CEO John Wren reported a Q4 $977.2M operating loss, largely due to the $1.1B in severance and repositioning expenses connected to the $13B Interpublic takeover that closed on Nov. 26.
Publicis Groupe reports an 8.8 percent rise in 2025 net revenues to $16.4B with
Public Policy Holding Company today priced its initial public offering at $12.25 per share. The sale of 4,150,000 shares raised $50.8M in gross proceeds.
Public Policy Holding Company reports that 4Q '25 revenues surged 27.8 percent to $49.9M. Organic growth rose 5.4 percent.
