Interpublic Q4 Adj. EPS Tops Estimates; Boosts Dividend 7%
(RTTNews) - Interpublic Group of Cos., Inc. (IPG) reported Thursday that net income available to IPG common stockholders for the fourth quarter declined to $297.2 million or $0.76 per share from $357.9 million or $0.90 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $1.02 per share, compared to $0.97 per share in the year-ago quarter.
Total revenue for the quarter increased 1.8 percent to $2.99 billion from $2.93 billion in the same quarter last year. Net revenue was flat with last year at $2.51 billion. Organic net revenue growth was 3.8 percent.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.01 per share on revenues of $2.55 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead, CEO Philippe Krakowsky said, "We expect organic net revenue growth for 2023 of 2% to 4%, on top of our very strong multi-year performance, and to further expand our adjusted EBITA margin to 16.7% for the full year."
The Company also announced that its Board of Directors has declared a 7% higher common stock cash dividend of $0.31 per share, payable quarterly to holders of record on an ongoing basis. It also announced an additional authorization amount of $350 million to share repurchase program.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Interpublic Q2 Results Top Estimates
Interpublic Q4 Results Top Estimates
Interpublic Q1 Results Top Estimates
U.S. Dollar Falls Against Most Majors
German Inflation Accelerates To 2.2% In August
Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings
Swiss Market Ends Modestly Lower
