- Third quarter
reported revenue increase of 3.0% and organic revenue increase of
4.3%
- Third quarter
operating margin of 10.8% compared to 10.3% in the prior-year
period and operating income growth of 8.0% to $207.2
million
- Third quarter
diluted earnings per share was $0.32, and $0.31 as adjusted for
below-the-line items, an increase of 15% from adjusted
Q3-15
- First nine
months reported revenue increase of 3.0%, organic revenue increase
of 4.8%, and operating profit increase of 9.0%
- First nine
months diluted earnings per share was $0.71, and $0.64 as adjusted
for below-the-line items, an increase of 16% from the comparable
adjusted prior-year results
- Company
upgrades full-year organic revenue growth target range to 4%-5% and
affirms it is on track to deliver operating margin increase of 50
basis points or more for the full-year
Summary
Revenue
- Third quarter 2016 revenue increased 3.0% to
$1.92 billion, compared to $1.87 billion in the third quarter of
2015, with an organic revenue increase of 4.3% compared to the
prior-year period. This was comprised of an organic increase of
1.8% in the U.S. and 8.1% internationally.
- First nine months 2016 revenue increased 3.0% to
$5.58 billion, compared to $5.42 billion in the first nine months
of 2015, with an organic revenue increase of 4.8% compared to the
prior-year period. This was comprised of an organic revenue
increase of 4.8% in the U.S. and 4.9% internationally.
Operating Results
-
Operating income in the third quarter of 2016
was $207.2 million, compared to $191.9 million in 2015. Operating
margin was 10.8% for the third quarter of 2016, compared to 10.3%
in 2015.
-
For the first nine months of 2016, operating
income was $452.9 million, compared to $415.5 million in 2015.
Operating margin was 8.1% for the first nine months of 2016,
compared to 7.7% for the first nine months of 2015.
Net Results
- Third quarter 2016 net income available to IPG
common stockholders was $128.6 million, resulting in basic and
diluted earnings per share of $0.32. This compares to net income
available to IPG common stockholders a year ago of $74.9 million,
resulting in basic and diluted earnings per share of $0.18.
- As adjusted to primarily exclude a non-operating
pre-tax gain of $3.9 million on the sale of businesses, which is
chiefly non-cash, in "Other (Expense) Income, net," adjusted net
income available to IPG common stockholders would be $124.4 million
and adjusted diluted earnings per share would be $0.31 for the
third quarter 2016. This compares to adjusted net income available
to IPG common stockholders a year ago of $110.2 million, and
adjusted diluted earnings per share of $0.27.
- First nine months 2016 net income available to
IPG common stockholders was $290.9 million, resulting in earnings
of $0.73 per basic share and $0.71 per diluted share. This compares
to net income available to IPG common stockholders a year ago of
$194.3 million, resulting in basic and diluted earnings per share
of $0.47.
- First nine months results include a
non-operating pre-tax loss of $16.1 million on the sales of
businesses, in "Other (Expense) Income, net," which is chiefly
non-cash. The income tax provision includes valuation allowance
reversals of $12.2 million as a consequence of the disposition of
certain businesses, a benefit of $10.5 million related to the
adoption of the Financial Accounting Standards Board Accounting
Standards Update 2016-09, and a benefit of $23.4 million related to
the conclusion and settlement of a tax examination of previous
years. Excluding these items, net income available to IPG common
stockholders would be $260.5 million, resulting in diluted earnings
per share of $0.64. This compares to adjusted net income available
to IPG common stockholders a year ago of $229.6 million, and
adjusted diluted earnings per share of $0.55.
"The quarter reflected solid revenue and profit
increases, with positive momentum from a broad range of our
creative, marketing services and media offerings," said Michael I.
Roth, Interpublic's Chairman and CEO. "Our digital capabilities
also continued to be very significant drivers of growth, which
demonstrates that we remain highly relevant in today's complex
media and marketing landscape. Operationally, we once again
demonstrated the ability to manage expenses effectively, a key
priority for us. Going forward, the overall tone of business
remains solid and, in light of the strength of our offerings and
our organic revenue performance through nine months, we believe
it's appropriate to raise our full-year organic growth target to a
range of 4 to 5 percent. We also feel that we remain
well-positioned to achieve 2016 operating margin expansion of 50
basis points or more. Combined with the strength of our balance
sheet and our proven commitment to robust capital return programs,
which have been a source of significant value creation, this will
allow us to further enhance shareholder value."
Operating Results
Revenue
Revenue of $1.92 billion in the third quarter of 2016 increased
3.0% compared with the same period in 2015. During the quarter, the
effect of foreign currency translation was negative 1.7%, the
impact of net acquisitions was positive 0.4%, and the resulting
organic revenue increase was 4.3%.
Revenue of $5.58 billion in the first nine months
of 2016 increased 3.0% compared with the first nine months of 2015.
During the first nine months of 2016, the effect of foreign
currency translation was negative 2.1%, the impact of net
acquisitions was positive 0.3%, and the resulting organic revenue
increase was 4.8%.
Operating Expenses
Total operating expenses increased 2.5% in the third quarter of
2016 from a year ago, compared with revenue growth of 3.0%, and
increased 2.5% in the first nine months of 2016 from a year ago,
compared with revenue growth of 3.0%.
During the third quarter of 2016, salaries and
related expenses were $1.23 billion, an increase of 2.2% compared
to the same period in 2015. During the first nine months of 2016,
salaries and related expenses were $3.73 billion, an increase of
2.9% compared to the same period in 2015.
Staff cost ratio, which is total salaries and
related expenses as a percentage of total revenue, was 63.9% in the
third quarter of 2016 compared to 64.4% in the same period in 2015,
and was 66.8% in the first nine months of 2016 compared to 66.9% in
the same period in 2015.
During the third quarter of 2016, office and
general expenses were $486.2 million, an increase of 3.1% compared
to the same period in 2015. During the first nine months of 2016,
office and general expenses were $1,400.5 million, an increase of
1.5% compared to the same period in 2015.
Office and general expenses remained flat at 25.3%
of total revenue in the third quarter of 2016 compared to the same
period in 2015, and were 25.1% in the first nine months of 2016
compared to 25.5% in the same period in 2015.
Non-Operating Results and
Tax
Net interest expense of $17.0 million increased by $1.3 million in
the third quarter of 2016 compared to the same period in 2015. For
the first nine months of 2016, net interest expense of $52.7
million increased by $8.0 million compared to the same period in
2015.
The income tax provision in the third quarter of
2016 was $63.8 million on income before income taxes of $196.3
million, compared to a provision of $61.1 million on income before
income taxes of $139.0 million in the same period in 2015.
The income tax provision in the first nine months
of 2016 was $91.9 million on income before income taxes of $389.1
million, compared to a provision of $137.4 million on income before
income taxes of $334.4 million in the same period in 2015. The
provision includes a $12.2 million benefit from valuation allowance
reversals as a consequence of the disposition of certain
businesses, a $10.5 million benefit from the early adoption of the
Financial Accounting Standards Board Accounting Standards Update
(ASU) 2016-09, Stock Compensation, and a $23.4 million benefit
related to the conclusion and settlement of a tax examination of
previous years.
Balance Sheet
At September 30, 2016, cash, cash equivalents and marketable
securities totaled $894.6 million, compared to $1.51 billion at
December 31, 2015 and $881.2 million at September 30,
2015. Total debt was $1.74 billion at September 30, 2016,
compared to $1.76 billion at December 31, 2015.
Share Repurchase Program and
Common Stock Dividend
During the third quarter of 2016, the company repurchased 3.5
million shares of its common stock at an aggregate cost of $80.8
million and an average price of $23.01 per share, including fees.
During the first nine months of 2016, the company repurchased 8.5
million shares of its common stock at an aggregate cost of $193.3
million and an average price of $22.69 per share, including
fees.
During the third quarter of 2016, the company
declared and paid a common stock cash dividend of $0.15 per share,
for a total of $59.5 million.
For more information concerning the company's
financial results, please refer to the accompanying slide
presentation available on our website, www.interpublic.com.
# # #
About Interpublic
Interpublic is one of the world's leading organizations of
advertising agencies and marketing services companies. Major global
brands include BPN, CRAFT, FCB (Foote, Cone & Belding),
FutureBrand, Golin, Huge, Initiative, Jack Morton Worldwide, MAGNA,
McCann, Momentum, MRM//McCann, MullenLowe Group, Octagon, R/GA, UM
and Weber Shandwick. Other leading brands include Avrett Free
Ginsberg, Campbell Ewald, Carmichael Lynch, Deutsch, Hill Holliday,
ID Media and The Martin Agency. For more information, please visit
www.interpublic.com.
# # #
Contact Information
Tom Cunningham
(Press)
(212) 704-1326
Jerry Leshne
(Analysts, Investors)
(212) 704-1439
Cautionary Statement
This release contains forward-looking statements.
Statements in this release that are not historical facts, including
statements about management's beliefs and expectations, constitute
forward-looking statements. These statements are based on current
plans, estimates and projections, and are subject to change based
on a number of factors, including those outlined under Item 1A,
Risk Factors, in our most recent Annual Report on Form 10-K.
Forward-looking statements speak only as of the date they are made,
and we undertake no obligation to update publicly any of them in
light of new information or future events.
Forward-looking statements involve inherent risks
and uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Such factors include, but are not
limited to, the following:
-
potential effects of a challenging economy, for
example, on the demand for our advertising and marketing services,
on our clients' financial condition and on our business or
financial condition;
-
our ability to attract new clients and retain
existing clients;
-
our ability to retain and attract key
employees;
-
risks associated with assumptions we make in
connection with our critical accounting estimates, including
changes in assumptions associated with any effects of a weakened
economy;
-
potential adverse effects if we are required to
recognize impairment charges or other adverse accounting-related
developments;
-
risks associated with the effects of global,
national and regional economic and political conditions, including
counterparty risks and fluctuations in economic growth rates,
interest rates and currency exchange rates; and
-
developments from changes in the regulatory and
legal environment for advertising and marketing and communications
services companies around the world.
Investors should carefully consider these factors
and the additional risk factors outlined in more detail under Item
1A, Risk Factors, in our most recent Annual Report on Form
10-K.
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED SUMMARY OF EARNINGS
THIRD QUARTER REPORT 2016 AND 2015
(Amounts in Millions except Per Share Data)
(UNAUDITED) |
|
|
|
|
|
Three months ended September 30, |
|
|
2016 |
|
2015 |
|
Fav. (Unfav.)
% Variance |
Revenue: |
|
|
|
|
|
|
United States |
$ |
1,165.9 |
|
|
$ |
1,138.5 |
|
|
2.4 |
% |
|
International |
756.3 |
|
|
727.0 |
|
|
4.0 |
% |
Total
Revenue |
1,922.2 |
|
|
1,865.5 |
|
|
3.0 |
% |
|
|
|
|
|
|
|
Operating
Expenses: |
|
|
|
|
|
|
Salaries and Related
Expenses |
1,228.8 |
|
|
1,202.2 |
|
|
(2.2) |
% |
|
Office and General
Expenses |
486.2 |
|
|
471.4 |
|
|
(3.1) |
% |
Total
Operating Expenses |
1,715.0 |
|
|
1,673.6 |
|
|
(2.5) |
% |
Operating
Income |
207.2 |
|
|
191.9 |
|
|
8.0 |
% |
Operating
Margin % |
10.8 |
% |
|
10.3 |
% |
|
|
|
|
|
|
|
|
|
Expenses
and Other Income: |
|
|
|
|
|
|
Interest Expense |
(21.7) |
|
|
(21.3) |
|
|
|
|
Interest Income |
4.7 |
|
|
5.6 |
|
|
|
|
Other Income
(Expense), Net |
6.1 |
|
|
(37.2) |
|
|
|
Total
(Expenses) and Other Income |
(10.9) |
|
|
(52.9) |
|
|
|
|
|
|
|
|
|
|
Income
Before Income Taxes |
196.3 |
|
|
139.0 |
|
|
|
Provision
for Income Taxes |
63.8 |
|
|
61.1 |
|
|
|
Income of
Consolidated Companies |
132.5 |
|
|
77.9 |
|
|
|
|
Equity in Net Income
of Unconsolidated Affiliates |
0.2 |
|
|
0.1 |
|
|
|
Net
Income |
132.7 |
|
|
78.0 |
|
|
|
|
Net Income
Attributable to Noncontrolling Interests |
(4.1) |
|
|
(3.1) |
|
|
|
Net Income
Available to IPG Common Stockholders |
$ |
128.6 |
|
|
$ |
74.9 |
|
|
|
|
|
|
|
|
|
Earnings
Per Share Available to IPG Common Stockholders: |
|
|
|
|
|
Basic |
$ |
0.32 |
|
|
$ |
0.18 |
|
|
|
Diluted |
$ |
0.32 |
|
|
$ |
0.18 |
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding: |
|
|
|
|
|
Basic |
397.7 |
|
|
407.6 |
|
|
|
Diluted |
407.9 |
|
|
415.5 |
|
|
|
|
|
|
|
|
|
Dividends
Declared Per Common Share |
$ |
0.15 |
|
|
$ |
0.12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED SUMMARY OF EARNINGS
THIRD QUARTER REPORT 2016 AND 2015
(Amounts in Millions except Per Share Data)
(UNAUDITED) |
|
|
|
|
|
Nine months ended September 30, |
|
|
2016 |
|
2015 |
|
Fav. (Unfav.)
% Variance |
Revenue: |
|
|
|
|
|
|
United States |
$ |
3,426.2 |
|
|
$ |
3,254.4 |
|
|
5.3 |
% |
|
International |
2,155.9 |
|
|
2,163.2 |
|
|
(0.3) |
% |
Total
Revenue |
5,582.1 |
|
|
5,417.6 |
|
|
3.0 |
% |
|
|
|
|
|
|
|
Operating
Expenses: |
|
|
|
|
|
|
Salaries and Related
Expenses |
3,728.7 |
|
|
3,622.6 |
|
|
(2.9) |
% |
|
Office and General
Expenses |
1,400.5 |
|
|
1,379.5 |
|
|
(1.5) |
% |
Total
Operating Expenses |
5,129.2 |
|
|
5,002.1 |
|
|
(2.5) |
% |
Operating
Income |
452.9 |
|
|
415.5 |
|
|
9.0 |
% |
Operating
Margin % |
8.1 |
% |
|
7.7 |
% |
|
|
|
|
|
|
|
|
|
Expenses
and Other Income: |
|
|
|
|
|
|
Interest Expense |
(68.8) |
|
|
(62.5) |
|
|
|
|
Interest Income |
16.1 |
|
|
17.8 |
|
|
|
|
Other Expense,
Net |
(11.1) |
|
|
(36.4) |
|
|
|
Total
(Expenses) and Other Income |
(63.8) |
|
|
(81.1) |
|
|
|
|
|
|
|
|
|
|
Income
Before Income Taxes |
389.1 |
|
|
334.4 |
|
|
|
Provision
for Income Taxes |
91.9 |
|
|
137.4 |
|
|
|
Income of
Consolidated Companies |
297.2 |
|
|
197.0 |
|
|
|
|
Equity in Net (Loss)
Income of Unconsolidated Affiliates |
(1.6) |
|
|
0.6 |
|
|
|
Net
Income |
295.6 |
|
|
197.6 |
|
|
|
|
Net Income
Attributable to Noncontrolling Interests |
(4.7) |
|
|
(3.3) |
|
|
|
Net Income
Available to IPG Common Stockholders |
$ |
290.9 |
|
|
$ |
194.3 |
|
|
|
|
|
|
|
|
|
Earnings
Per Share Available to IPG Common Stockholders: |
|
|
|
|
|
Basic |
$ |
0.73 |
|
|
$ |
0.47 |
|
|
|
Diluted |
$ |
0.71 |
|
|
$ |
0.47 |
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding: |
|
|
|
|
|
Basic |
399.5 |
|
|
409.7 |
|
|
|
Diluted |
408.8 |
|
|
417.0 |
|
|
|
|
|
|
|
|
|
Dividends
Declared Per Common Share |
$ |
0.45 |
|
|
$ |
0.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED) |
|
|
|
Three Months Ended September
30, 2016 |
|
As
Reported |
|
Gain on
Sale of Business |
|
Adoption
of ASU 2016-09 |
|
Adjusted
Results |
Income Before Income
Taxes |
$ |
196.3 |
|
|
$ |
3.9 |
|
|
|
|
$ |
192.4 |
|
Provision for Income
Taxes |
63.8 |
|
|
|
|
$ |
0.3 |
|
|
64.1 |
|
Effective Tax Rate |
32.5 |
% |
|
|
|
|
|
33.3 |
% |
Equity in Net Income
of Unconsolidated Affiliates |
0.2 |
|
|
|
|
|
|
0.2 |
|
Net Income
Attributable to Noncontrolling Interests |
(4.1) |
|
|
|
|
|
|
(4.1) |
|
Net
Income Available to IPG Common Stockholders |
$ |
128.6 |
|
|
$ |
3.9 |
|
|
$ |
0.3 |
|
|
$ |
124.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
397.7 |
|
|
|
|
|
|
397.7 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
10.2 |
|
|
|
|
1.6 |
|
|
8.6 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
407.9 |
|
|
|
|
1.6 |
|
|
406.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
|
|
Basic |
$ |
0.32 |
|
|
$ |
0.01 |
|
|
$ |
0.00 |
|
|
$ |
0.31 |
|
Diluted |
$ |
0.32 |
|
|
$ |
0.01 |
|
|
$ |
0.00 |
|
|
$ |
0.31 |
|
|
|
|
|
|
|
|
|
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED) |
|
|
|
Nine Months Ended September 30, 2016 |
|
As
Reported |
|
Net Losses
on Sales of Businesses |
|
Valuation
Allowance Reversals |
|
Adoption
of ASU 2016-09 |
|
Settlement
of Certain Tax Positions |
|
Adjusted
Results |
Income Before Income
Taxes |
$ |
389.1 |
|
|
$ |
(16.1) |
|
|
|
|
|
|
|
|
$ |
405.2 |
|
Provision for Income
Taxes |
91.9 |
|
|
0.4 |
|
|
$ |
12.2 |
|
|
$ |
10.5 |
|
|
$ |
23.4 |
|
|
138.4 |
|
Effective Tax Rate |
23.6 |
% |
|
|
|
|
|
|
|
|
|
34.2 |
% |
Equity in Net Loss of
Unconsolidated Affiliates |
(1.6) |
|
|
|
|
|
|
|
|
|
|
(1.6) |
|
Net Income
Attributable to Noncontrolling Interests |
(4.7) |
|
|
|
|
|
|
|
|
|
|
(4.7) |
|
Net
Income Available to IPG Common Stockholders |
$ |
290.9 |
|
|
$ |
(15.7) |
|
|
$ |
12.2 |
|
|
$ |
10.5 |
|
|
$ |
23.4 |
|
|
$ |
260.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
399.5 |
|
|
|
|
|
|
|
|
|
|
399.5 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
|
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
9.3 |
|
|
|
|
|
|
1.6 |
|
|
|
|
7.7 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
408.8 |
|
|
|
|
|
|
1.6 |
|
|
|
|
407.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.73 |
|
|
$ |
(0.04) |
|
|
$ |
0.03 |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.65 |
|
Diluted |
$ |
0.71 |
|
|
$ |
(0.04) |
|
|
$ |
0.03 |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
|
|
|
|
Three Months Ended September 30, 2015 |
|
As
Reported |
|
Loss on
Sales of Businesses1 |
|
Ex - Loss
on Sales of Businesses |
Income Before Income
Taxes |
$ |
139.0 |
|
|
$ |
(38.0) |
|
|
$ |
177.0 |
|
Provision for Income
Taxes |
61.1 |
|
|
2.7 |
|
|
63.8 |
|
Effective Tax Rate |
44.0 |
% |
|
|
|
36.0 |
% |
Equity in Net Income
of Unconsolidated Affiliates |
0.1 |
|
|
|
|
0.1 |
|
Net Income
Attributable to Noncontrolling Interests |
(3.1) |
|
|
|
|
(3.1) |
|
Net
Income Available to IPG Common Stockholders |
$ |
74.9 |
|
|
$ |
(35.3) |
|
|
$ |
110.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
407.6 |
|
|
|
|
407.6 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
7.9 |
|
|
|
|
7.9 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
415.5 |
|
|
|
|
415.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
Basic |
$ |
0.18 |
|
|
$ |
(0.09) |
|
|
$ |
0.27 |
|
Diluted |
$ |
0.18 |
|
|
$ |
(0.09) |
|
|
$ |
0.27 |
|
|
|
|
|
|
|
1
Includes losses on completed dispositions of businesses and
the classification of certain assets as held for sale. |
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
|
|
|
|
Nine Months Ended September 30, 2015 |
|
As
Reported |
|
Loss on
Sales of Businesses1 |
|
Ex - Loss
on Sales of Businesses |
Income Before Income
Taxes |
$ |
334.4 |
|
|
$ |
(38.0) |
|
|
$ |
372.4 |
|
Provision for Income
Taxes |
137.4 |
|
|
2.7 |
|
|
140.1 |
|
Effective Tax Rate |
41.1 |
% |
|
|
|
37.6 |
% |
Equity in Net Income
of Unconsolidated Affiliates |
0.6 |
|
|
|
|
0.6 |
|
Net Income
Attributable to Noncontrolling Interests |
(3.3) |
|
|
|
|
(3.3) |
|
Net
Income Available to IPG Common Stockholders |
$ |
194.3 |
|
|
$ |
(35.3) |
|
|
$ |
229.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
409.7 |
|
|
|
|
409.7 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
7.3 |
|
|
|
|
7.3 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
417.0 |
|
|
|
|
417.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
Basic |
$ |
0.47 |
|
|
$ |
(0.09) |
|
|
$ |
0.56 |
|
Diluted |
$ |
0.47 |
|
|
$ |
(0.08) |
|
|
$ |
0.55 |
|
|
|
|
|
|
|
1
Includes losses on completed dispositions of businesses and the
classification of certain assets as held for sale. |
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: INTERPUBLIC GROUP OF COMPANIES, INC. via
Globenewswire
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