- Second quarter
reported revenue decrease of 1.7%; organic revenue increase was
0.4% and was 1.0% excluding the impact of lower pass-through
revenue.
- First half
reported revenue decrease of 0.6%; organic revenue increase was
1.5% and was 1.7% excluding the impact of lower pass-through
revenue.
- Second quarter
operating income of $206.5 million and operating margin of
11.0%.
- Second quarter
diluted earnings per share of $0.24 and $0.27 as adjusted for
below-the-line items, compared with $0.38 and $0.33 as adjusted a
year ago.
- First half
diluted earnings per share of $0.29 and $0.32 as adjusted for
below-the-line items, compared with $0.40 and $0.36 as adjusted a
year ago.
- Company remains
committed to delivering its full-year performance target of 50
basis points of operating margin expansion and achieving the low
end of its 3%-4% organic growth range.
Summary
Revenue
- Second quarter 2017 revenue decreased 1.7% to
$1.88 billion, compared to $1.92 billion in the second quarter of
2016, with an organic revenue increase of 0.4% compared to the
prior-year period. This was comprised of an organic increase of
0.7% in the U.S., which was 1.7% excluding the impact of lower
pass-through revenues, and no organic change internationally.
- First half 2017 revenue decreased 0.6% to $3.64
billion, compared to $3.66 billion in the first half of 2016, with
an organic revenue increase of 1.5% compared to the prior-year
period. This was comprised of an organic revenue increase of 1.7%
in the U.S., which was 1.8% excluding the impact of lower
pass-through revenues, and 1.0% internationally.
Operating Results
- Operating income in the second quarter of 2017
was $206.5 million, compared to $224.3 million in 2016. Operating
margin was 11.0% for the second quarter of 2017, compared to 11.7%
in 2016.
- For the first half of 2017, operating income was
$236.2 million, compared to operating income of $247.3 million in
2016. Operating margin was 6.5% for the first half of 2017,
compared to 6.8% for the first half of 2016.
Net Results
- Income tax provision in the second quarter of
2017 was $75.4 million on income before income taxes of $170.1
million.
- Second quarter 2017 net income available to IPG
common stockholders was $94.7 million, resulting in earnings of
$0.24 per basic and diluted share, and $0.27 per adjusted diluted
share. This compares to net income available to IPG common
stockholders a year ago of $156.9 million, resulting in earnings of
$0.39 per basic share and $0.38 per diluted share, and $0.33 per
adjusted diluted share.
- Income tax provision in the first half of 2017
was $73.3 million on income before income taxes of $184.9
million.
- First half 2017 net income available to IPG
common stockholders was $116.2 million, resulting in earnings of
$0.30 per basic share and $0.29 per diluted share, and $0.32 per
adjusted diluted share. This compares to net income available to
IPG common stockholders a year ago of $162.3 million, resulting in
earnings of $0.41 per basic share and $0.40 per diluted share, and
$0.36 per adjusted diluted share.
- For the three and six months ended June 30,
2017, net income available to IPG common stockholders included net
losses of $13.1 million and $12.2 million, respectively, on sales
of businesses in "Other (Expense) Income, Net". Excluding losses on
sales of businesses, our diluted earnings per share for the three
and six months ended June 30, 2017 would have been $0.27 and $0.32,
respectively. Adjusted diluted earnings per share was $0.33 and
$0.36 in the respective prior year periods. Refer to
reconciliations in the back for more detail.
"Client spending in the quarter reflected
increased caution, but we don't see evidence of a broad-based
economic downturn. Across the portfolio, we remain confident in the
outstanding quality of our people and our work. This is confirmed
by industry-leading performance at the most important award
competitions that recognize creative excellence and marketing
effectiveness," said Michael I. Roth, Interpublic's Chairman and
CEO.
"Our offerings are highly competitive due to
long-standing investments we have made in talent, especially
embedding digital expertise within all of our companies, as well as
in leading-edge programs that foster innovation and position us to
help clients succeed in an age of data-driven and
technology-enabled marketing. Applying these capabilities across
our client roster positions us to achieve the low end of our 3% -
4% organic growth target for the year. We will also stay highly
focused on costs, in order to build on our strong record of driving
margin improvement, and we remain committed to delivering 50 basis
points of operating margin expansion in 2017. Combined with the
strength of our balance sheet and our commitment to capital return,
that means there is significant potential at IPG for further value
creation and enhanced shareholder value," concluded Mr. Roth.
Operating Results
Revenue
Revenue of $1.88 billion in the second quarter of
2017 decreased 1.7% compared with the same period in 2016. During
the quarter, the effect of foreign currency translation was
negative 1.1%, the impact of net divestitures was negative 1.0%,
and the resulting organic revenue increase was 0.4%. Excluding the
decrease in organic pass-through revenue in the second quarter of
2017, the organic revenue increase would have been 1.0%.
Revenue of $3.64 billion in the first half of 2017
decreased 0.6% compared with the first half of 2016. During the
first half of 2017, the effect of foreign currency translation was
negative 1.0%, the impact of net divestitures was negative 1.1%,
and the resulting organic revenue increase was 1.5%. Excluding the
decrease in organic pass-through revenue in the first half of 2017,
the organic revenue increase would have been 1.7%.
Operating Expenses
Total operating expenses decreased 0.9% in the
second quarter of 2017 from a year ago, compared with revenue
decrease of 1.7%, and decreased 0.3% in the first half of 2017 from
a year ago, compared with revenue decrease of 0.6%.
During the second quarter of 2017, salaries and
related expenses were $1.24 billion, an increase of 0.8% compared
to the same period in 2016. During the first half of 2017, salaries
and related expenses were $2.51 billion, an increase of 0.7%
compared to the same period in 2016.
Staff cost ratio, which is total salaries and
related expenses as a percentage of total revenue, was 65.7% in the
second quarter of 2017 compared to 64.1% in the same period in
2016, and was 69.1% in the first half of 2017 compared to 68.3% in
the same period in 2016.
During the second quarter of 2017, office and
general expenses were $439.1 million, a decrease of 5.4% compared
to the same period in 2016. During the first half of 2017, office
and general expenses were $887.9 million, a decrease of 2.9%
compared to the same period in 2016.
Office and general expenses were 23.3% of total
revenue in the second quarter of 2017 compared to with 24.2% a year
ago, and were 24.4% in the first half of 2017 compared to 25.0% in
the same period in 2016.
Non-Operating Results and
Tax
Net interest expense of $21.0 million increased by
$2.1 million in the second quarter of 2017 compared to the same
period in 2016. For the first half of 2017, net interest expense of
$36.7 million increased by $1.0 million compared to the same period
in 2016.
The income tax provision in the second quarter of
2017 was $75.4 million on income before income taxes of $170.1
million, compared to a provision of $43.7 million on income before
income taxes of $205.8 million in the same period in 2016.
The income tax provision in the first half of 2017
was $73.3 million on income before taxes of $184.9 million,
compared to a provision of $28.1 million on income before income
taxes of $192.8 million in the same period in 2016.
Balance Sheet
At June 30, 2017, cash, cash equivalents and
marketable securities totaled $660.8 million, compared to $1.10
billion at December 31, 2016 and $675.4 million at
June 30, 2016. Total debt was $1.82 billion at June 30,
2017, compared to $1.69 billion at December 31, 2016.
Share Repurchase Program and
Common Stock Dividend
During the second quarter of 2017, the company
repurchased 2.5 million shares of its common stock at an aggregate
cost of $60.0 million and an average price of $24.39 per share,
including fees. During the first half of 2017, the company
repurchased 4.8 million shares of its common stock at an aggregate
cost of $115.0 million and an average price of $24.13 per share,
including fees.
During the second quarter of 2017, the company
declared and paid a common stock cash dividend of $0.18 per share,
for a total of $70.5 million.
For further information regarding the company's
financial results as well as certain non-GAAP measures and the
reconciliation thereof, please refer to pages 18 and 19 of the
earnings materials filed on Form 8-K here with and 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 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
SECOND QUARTER REPORT 2017 AND 2016
(Amounts in Millions except Per Share Data)
(UNAUDITED) |
|
|
|
|
|
Three months ended June
30, |
|
|
2017 |
|
2016 |
|
Fav. (Unfav.)
% Variance |
Revenue: |
|
|
|
|
|
|
United States |
$ |
1,160.5 |
|
|
$ |
1,169.1 |
|
|
(0.7) |
% |
|
International |
724.4 |
|
|
748.8 |
|
|
(3.3) |
% |
Total
Revenue |
1,884.9 |
|
|
1,917.9 |
|
|
(1.7) |
% |
|
|
|
|
|
|
|
Operating
Expenses: |
|
|
|
|
|
|
Salaries and Related
Expenses |
1,239.3 |
|
|
1,229.5 |
|
|
(0.8) |
% |
|
Office and General
Expenses |
439.1 |
|
|
464.1 |
|
|
5.4 |
% |
Total
Operating Expenses |
1,678.4 |
|
|
1,693.6 |
|
|
0.9 |
% |
Operating
Income |
206.5 |
|
|
224.3 |
|
|
(7.9) |
% |
Operating
Margin % |
11.0 |
% |
|
11.7 |
% |
|
|
|
|
|
|
|
|
|
Expenses
and Other Income: |
|
|
|
|
|
|
Interest Expense |
(25.7) |
|
|
(24.5) |
|
|
|
|
Interest Income |
4.7 |
|
|
5.6 |
|
|
|
|
Other (Expense)
Income, Net |
(15.4) |
|
|
0.4 |
|
|
|
Total
(Expenses) and Other Income |
(36.4) |
|
|
(18.5) |
|
|
|
|
|
|
|
|
|
|
Income
Before Income Taxes |
170.1 |
|
|
205.8 |
|
|
|
Provision
for Income Taxes |
75.4 |
|
|
43.7 |
|
|
|
Income of
Consolidated Companies |
94.7 |
|
|
162.1 |
|
|
|
|
Equity in Net Loss of
Unconsolidated Affiliates |
(0.1) |
|
|
(1.9) |
|
|
|
Net
Income |
94.6 |
|
|
160.2 |
|
|
|
|
Net Loss (Income)
Attributable to Noncontrolling Interests |
0.1 |
|
|
(3.3) |
|
|
|
Net Income
Available to IPG Common Stockholders |
$ |
94.7 |
|
|
$ |
156.9 |
|
|
|
|
|
|
|
|
|
Earnings
Per Share Available to IPG Common Stockholders: |
|
|
|
|
|
Basic |
$ |
0.24 |
|
|
$ |
0.39 |
|
|
|
Diluted |
$ |
0.24 |
|
|
$ |
0.38 |
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding: |
|
|
|
|
|
Basic |
392.3 |
|
|
400.1 |
|
|
|
Diluted |
400.3 |
|
|
409.8 |
|
|
|
|
|
|
|
|
|
Dividends
Declared Per Common Share |
$ |
0.18 |
|
|
$ |
0.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED SUMMARY OF EARNINGS
SECOND QUARTER REPORT 2017 AND 2016
(Amounts in Millions except Per Share Data)
(UNAUDITED) |
|
|
|
|
|
Six months ended June 30, |
|
|
2017 |
|
2016 |
|
Fav. (Unfav.)
% Variance |
Revenue: |
|
|
|
|
|
|
United States |
$ |
2,272.3 |
|
|
$ |
2,260.3 |
|
|
0.5 |
% |
|
International |
1,366.5 |
|
|
1,399.6 |
|
|
(2.4) |
% |
Total
Revenue |
3,638.8 |
|
|
3,659.9 |
|
|
(0.6) |
% |
|
|
|
|
|
|
|
Operating
Expenses: |
|
|
|
|
|
|
Salaries and Related
Expenses |
2,514.7 |
|
|
2,498.3 |
|
|
(0.7) |
% |
|
Office and General
Expenses |
887.9 |
|
|
914.3 |
|
|
2.9 |
% |
Total
Operating Expenses |
3,402.6 |
|
|
3,412.6 |
|
|
0.3 |
% |
Operating
Income |
236.2 |
|
|
247.3 |
|
|
(4.5) |
% |
Operating
Margin % |
6.5 |
% |
|
6.8 |
% |
|
|
|
|
|
|
|
|
|
Expenses
and Other Income: |
|
|
|
|
|
|
Interest Expense |
(46.6) |
|
|
(47.1) |
|
|
|
|
Interest Income |
9.9 |
|
|
11.4 |
|
|
|
|
Other Expense,
Net |
(14.6) |
|
|
(18.8) |
|
|
|
Total
(Expenses) and Other Income |
(51.3) |
|
|
(54.5) |
|
|
|
|
|
|
|
|
|
|
Income
Before Income Taxes |
184.9 |
|
|
192.8 |
|
|
|
Provision
for Income Taxes |
73.3 |
|
|
28.1 |
|
|
|
Income of
Consolidated Companies |
111.6 |
|
|
164.7 |
|
|
|
|
Equity in Net Income
(Loss) of Unconsolidated Affiliates |
1.1 |
|
|
(1.8) |
|
|
|
Net
Income |
112.7 |
|
|
162.9 |
|
|
|
|
Net Loss (Income)
Attributable to Noncontrolling Interests |
3.5 |
|
|
(0.6) |
|
|
|
Net Income
Available to IPG Common Stockholders |
$ |
116.2 |
|
|
$ |
162.3 |
|
|
|
|
|
|
|
|
|
Earnings
Per Share Available to IPG Common Stockholders: |
|
|
|
|
|
Basic |
$ |
0.30 |
|
|
$ |
0.41 |
|
|
|
Diluted |
$ |
0.29 |
|
|
$ |
0.40 |
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding: |
|
|
|
|
|
Basic |
392.0 |
|
|
400.4 |
|
|
|
Diluted |
399.6 |
|
|
409.4 |
|
|
|
|
|
|
|
|
|
Dividends
Declared Per Common Share |
$ |
0.36 |
|
|
$ |
0.30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED NON-GAAP RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
|
|
|
|
Three Months Ended June 30,
2017 |
|
As
Reported |
|
Net Losses
on Sales of Businesses 1 |
|
Adjusted
Results |
Income Before Income
Taxes |
$ |
170.1 |
|
|
$ |
(13.1) |
|
|
$ |
183.2 |
|
Provision for Income
Taxes |
75.4 |
|
|
|
|
75.4 |
|
Effective Tax Rate |
44.3 |
% |
|
|
|
41.2 |
% |
Equity in Net Loss of
Unconsolidated Affiliates |
(0.1) |
|
|
|
|
(0.1) |
|
Net Loss Attributable
to Noncontrolling Interests |
0.1 |
|
|
|
|
0.1 |
|
Net
Income Available to IPG Common Stockholders |
$ |
94.7 |
|
|
$ |
(13.1) |
|
|
$ |
107.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
392.3 |
|
|
|
|
392.3 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
8.0 |
|
|
|
|
8.0 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
400.3 |
|
|
|
|
400.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
Basic |
$ |
0.24 |
|
|
$ |
(0.03) |
|
|
$ |
0.27 |
|
Diluted |
$ |
0.24 |
|
|
$ |
(0.03) |
|
|
$ |
0.27 |
|
|
|
|
|
|
|
1 Includes
losses on completed dispositions and the classification of certain
assets as held for sale. |
|
|
|
|
|
|
Note: Management believes the resulting comparisons provide
useful supplemental data that, while not a substitute for GAAP
measures, allow for greater transparency in the review of our
financial and operational performance. |
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED NON-GAAP RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
|
|
|
|
Six Months Ended June 30,
2017 |
|
As
Reported |
|
Net Losses
on Sales of Businesses 1 |
|
Adjusted
Results |
Income Before Income
Taxes |
$ |
184.9 |
|
|
$ |
(12.2) |
|
|
$ |
197.1 |
|
Provision for Income
Taxes |
73.3 |
|
|
|
|
73.3 |
|
Effective Tax Rate |
39.6 |
% |
|
|
|
37.2 |
% |
Equity in Net Income
of Unconsolidated Affiliates |
1.1 |
|
|
|
|
1.1 |
|
Net Loss Attributable
to Noncontrolling Interests |
3.5 |
|
|
|
|
3.5 |
|
Net
Income Available to IPG Common Stockholders |
$ |
116.2 |
|
|
$ |
(12.2) |
|
|
$ |
128.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
392.0 |
|
|
|
|
392.0 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
7.6 |
|
|
|
|
7.6 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
399.6 |
|
|
|
|
399.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
Basic |
$ |
0.30 |
|
|
$ |
(0.03) |
|
|
$ |
0.33 |
|
Diluted |
$ |
0.29 |
|
|
$ |
(0.03) |
|
|
$ |
0.32 |
|
|
|
|
|
|
|
1 Includes
losses on completed dispositions and the classification of certain
assets as held for sale. |
|
|
|
|
|
|
Note: Management believes the resulting comparisons
provide useful supplemental data that, while not a substitute for
GAAP measures, allow for greater transparency in the review of our
financial and operational performance. |
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED NON-GAAP RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
|
|
|
|
Three Months Ended June 30,
2016 |
|
As
Reported |
|
Losses on
Sales of Businesses |
|
Settlement
of Certain Tax Positions |
|
Adjusted
Results 1 |
Income Before Income
Taxes |
$ |
205.8 |
|
|
$ |
(3.7) |
|
|
|
|
$ |
209.5 |
|
Provision for Income
Taxes |
43.7 |
|
|
|
|
$ |
23.4 |
|
|
67.1 |
|
Effective Tax Rate |
21.2 |
% |
|
|
|
|
|
32.0 |
% |
Equity in Net Loss of
Unconsolidated Affiliates |
(1.9) |
|
|
|
|
|
|
(1.9) |
|
Net Income
Attributable to Noncontrolling Interests |
(3.3) |
|
|
|
|
|
|
(3.3) |
|
Net
Income Available to IPG Common Stockholders |
$ |
156.9 |
|
|
$ |
(3.7) |
|
|
$ |
23.4 |
|
|
$ |
137.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
400.1 |
|
|
|
|
|
|
400.1 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
9.7 |
|
|
|
|
|
|
9.7 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
409.8 |
|
|
|
|
|
|
409.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
|
|
Basic |
$ |
0.39 |
|
|
$ |
(0.01) |
|
|
$ |
0.06 |
|
|
$ |
0.34 |
|
Diluted |
$ |
0.38 |
|
|
$ |
(0.01) |
|
|
$ |
0.06 |
|
|
$ |
0.33 |
|
|
|
|
|
|
|
|
|
1 The effect of
the adoption of the Financial Accounting Standards Board Accounting
Standards Update 2016-09, which was previously included in this
table in 2016, has now been removed as the effect of the adoption
is reflected in both periods.
|
|
|
|
|
|
|
|
|
Note: Management believes the resulting comparisons provide
useful supplemental data that, while not a substitute for GAAP
measures, allow for greater transparency in the review of our
financial and operational performance. |
THE INTERPUBLIC GROUP OF
COMPANIES, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED NON-GAAP RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
|
|
|
|
Six months ended June 30,
2016 |
|
As
Reported |
|
Losses on
Sales of Businesses |
|
Valuation
Allowance Reversals |
|
Settlement
of Certain Tax Positions |
|
Adjusted
Results 1 |
Income Before Income
Taxes |
$ |
192.8 |
|
|
$ |
(20.0) |
|
|
|
|
|
|
$ |
212.8 |
|
Provision for Income
Taxes |
28.1 |
|
|
0.4 |
|
|
$ |
12.2 |
|
|
$ |
23.4 |
|
|
64.1 |
|
Effective Tax Rate |
14.6 |
% |
|
|
|
|
|
|
|
30.1 |
% |
Equity in Net Loss of
Unconsolidated Affiliates |
(1.8) |
|
|
|
|
|
|
|
|
(1.8) |
|
Net Income
Attributable to Noncontrolling Interests |
(0.6) |
|
|
|
|
|
|
|
|
(0.6) |
|
Net
Income Available to IPG Common Stockholders |
$ |
162.3 |
|
|
$ |
(19.6) |
|
|
$ |
12.2 |
|
|
$ |
23.4 |
|
|
$ |
146.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average Number of Common Shares Outstanding -
Basic |
400.4 |
|
|
|
|
|
|
|
|
400.4 |
|
Add: Effect of
Dilutive Securities |
|
|
|
|
|
|
|
|
|
Restricted
Stock, Stock Options and Other Equity Awards |
9.0 |
|
|
|
|
|
|
|
|
9.0 |
|
Weighted-Average Number of Common Shares Outstanding -
Diluted |
409.4 |
|
|
|
|
|
|
|
|
409.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share Available to IPG Common
Stockholders: |
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.41 |
|
|
$ |
(0.05) |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.37 |
|
Diluted |
$ |
0.40 |
|
|
$ |
(0.05) |
|
|
$ |
0.03 |
|
|
$ |
0.06 |
|
|
$ |
0.36 |
|
|
|
|
|
|
|
|
|
|
|
1 The effect of
the adoption of the Financial Accounting Standards Board Accounting
Standards Update 2016-09, which was previously included in this
table in 2016, has now been removed as the effect of the adoption
is reflected in both periods. |
|
|
|
|
|
|
|
|
|
|
Note: Management believes the resulting comparisons provide
useful supplemental data that, while not a substitute for GAAP
measures, allow for greater transparency in the review of our
financial and operational performance. |
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
Interpublic Group of Com... (NYSE:IPG)
Historical Stock Chart
From Apr 2024 to May 2024
Interpublic Group of Com... (NYSE:IPG)
Historical Stock Chart
From May 2023 to May 2024