Interpublic (IPG) Surpasses Q2 Earnings & Revenue Estimates
Zacks Investment Research | Jul 28, 2020 10:36PM ET
The Interpublic Group of Companies (NYSE:IPG), Inc. IPG reported better-than-expected second-quarter 2020 results.
Adjusted earnings of 23 cents per share beat the Zacks Consensus Estimate by 15% but declined 50% on a year-over-year basis.
Net revenues of $1.85 billion beat the consensus estimate by 6.3% but decreased on a year-over-year basis due to organic net revenue decrease of 9.9%, negative impact of 2.1% due to foreign currency movement and 0.8% due to dispositions. Total revenues of $2.03 billion declined 19.6% year over year.
industry it belongs to and 0.8% increase of the Zacks S&P 500 composite.
Let’s check out the numbers in detail.
h3 Operating Results/h3Operating income in second-quarter 2020 came in at $40.5 million compared with $264.2 million in the prior-year quarter. Operating margin on net revenues decreased to 2.2% from 12.4% in the year-ago quarter. Operating margin on total revenues fell to 1.9% from 10.5% in the year-ago quarter.
Adjusted EBITA came in at $62.3 million, compared with $285.5 million at the end of the prior-year quarter. Adjusted EBITA margin on net revenues declined to 3.4% from 13.4% in the year-ago quarter. Adjusted EBITA margin on total revenues fell to 3.1% from 11.3% in the year-ago quarter.
Total operating expenses of $2.28 billion declined 1.2% year over year.
Interpublic Group of Companies, Inc. The Price, Consensus and EPS Surprise Zacks Investment Research
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