Advantage solutions reports second quarter 2023 financial results and reaffirms annual outlook

Irvine, calif., aug. 04, 2023 (globe newswire) -- advantage solutions inc. (nasdaq: adv) (“advantage,” “advantage solutions,” the “company,” “we” or “our”), a leading provider of outsourced sales and marketing services to consumer goods manufacturers and retailers, today reported financial results for its second quarter ended june 30, 2023. the results continue to reflect a trendline of improving revenue and adjusted ebitda performance for the company. revenues for the quarter grew 5.7% year-over-year, an increase of 6.1% excluding foreign exchange, to reach $1.0 billion, and adjusted ebitda for the quarter reached $104.2 million, down 3.8% year-over year with a margin decline of approximately 100 basis points. the decline in adjusted ebitda reflects an improvement in dollar and margin trajectory relative to prior quarter (which, in the first quarter of 2023, had decreased 4.8% in dollars and approximately 150 basis points in margin, in each case, on a year-over-year basis) and includes the impact of the completed divestiture.
ADV Ratings Summary
ADV Quant Ranking