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| John Wren |
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.
He doubled the anticipated three-year synergy costs target to $1.5B.
The bulk of that savings will be labor-related. Wren expects $645M in labor-related synergies this year, $920M in 2027, and $1B in 2028.
Wren said OMC will be "simplifying and aligning our portfolio of businesses to prioritize connected capability delivery, growth and profitability."
OMC’s board approved a $5B stock buyback program as part of the company’s capital allocation strategy.
It also slated an Investor Day for March 12 that will feature presentations by executive management and operational leaders. That session will begin at 9 am and end at 12:30 pm.
On the PR front, Weber Shandwick, Golin/Ketchum, Mercury, Portland, FleishmanHillard and Marina Maher Communications reported a 12.4 percent rise in Q4 revenues to $500.8M.
It was down 1.6 percent to $1.6B for the full-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."
