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| Philippe Krakowsky |
Interpublic suffered a $85.4M Q1 loss as net revenues declined 8.5 percent to $2B. It earned $110.4M in the year-ago period.
The just completed quarter, which includes a $203.3M restructuring charge, was “consistent with our expectations,” said CEO Philippe Krakowsky. as Interpublic moves to be acquired by Omnicom.
A 3.7 percent decline in revenues from strategic divestitures, 3.6 percent organic decrease and 1.2 percent dip from the negative impact of foreign currency translations accounted for a chunk of the sales shortfall.
Interpublic’s specialized communications & experiential solutions group (Weber Shandwick, Golin, Current Global, R&CPMK, DeVries Global, Jack Morton, Momentum and DXTRA Health) reported a 3.9 percent drop in revenues to $326.9M. It was down 2.4 percent on an organic basis.
On the economic front, Krakowsky said the implications of the Trump policy changes vary among industries and geographies.
“We are working closely with our clients in considering the decisions they may need to make when it comes to channel choices, investment levels, and the best mix of marketing disciplines required to deliver business outcomes in more uncertain economic circumstances,” he said.
Interpublic said it remains on track to complete the Omnicom deal during the second half of this year.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
