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| Mark Penn |
Stagwell CEO Mark Penn reports Q1 revenues fell 2.7 percent to $651.8M, while its net loss rose from $1.3M to $2.9M.
Noting that Q1 is the “low point in the political cycle,” Penn said Stagwell is set up for a strong year ahead.
The firm chalked up double-digit growth in its digital transformation, creativity and marketing cloud capabilities.
Posting $130M in Q1 net new business (PayPal, Panera, CarMax, Celsius and Hyatt), Penn remains “optimistic about our outlook for the rest of the year.”
Stagwell has targeted eight percent net revenue growth for the year.
The company's PR units include SKDK, HUNTER, Allison, KWT Global, and Sloane & Co.
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."
