IPG
    Print Page  Close Window

SEC Filings

8-K
INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 8-K on 10/24/2017
Entire Document
 
Exhibit


http://api.tenkwizard.com/cgi/image?quest=1&rid=23&ipage=11849932&doc=36

FOR IMMEDIATE RELEASE
 
New York, NY (October 24, 2017)


Interpublic Announces Third Quarter and First Nine Months 2017 Results

Third quarter reported revenue decrease of 1.0%, organic revenue increase of 0.5%, and organic revenue increase of 1.5% excluding the impact of lower pass-through revenue.
In the U.S., third quarter organic revenue increase was 1.3% and was 2.0% excluding the impact of lower pass-through revenue.
Third quarter operating income of $219.1 million and operating margin of 11.5%.
Third quarter diluted earnings per share of $0.37, and $0.31 as adjusted for below-the-line items, compared with $0.32 and $0.31 as adjusted a year ago.
First nine months reported revenue decrease of 0.7%, organic revenue increase of 1.1%, and organic revenue increase of 1.6% excluding the impact of lower pass-through revenue.
First nine months diluted earnings per share was $0.66 and $0.63 as adjusted for below-the-line items, compared with $0.71 and $0.66 as adjusted a year ago.
Company’s revised full-year 2017 operating targets are operating margin expansion of 40 basis points and organic revenue growth of 1-2%.

Summary

Revenue
Third quarter 2017 revenue decreased 1.0% to $1.90 billion, compared to $1.92 billion in the third quarter of 2016, with an organic revenue increase of 0.5% compared to the prior-year period. This was comprised of an organic increase of 1.3% in the U.S. and a decrease of 0.7% internationally. Excluding the impact of lower pass-through revenues, the organic revenue increase would have been 2.0% in the U.S. and 0.7% internationally.
First nine months 2017 revenue decreased 0.7% to $5.54 billion, compared to $5.58 billion in the first nine months of 2016, with an organic revenue increase of 1.1% compared to the prior-year period. This was comprised of an organic increase of 1.6% in the U.S. and 0.4% internationally. Excluding the impact of lower pass-through revenues, the organic revenue increase would have been 1.9% in the U.S. and 1.2% internationally.
Pass-through revenues are offset dollar-for-dollar in operating expenses. As a result, changes in pass-through revenues do not change operating profit.


Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax