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Interpublic Group Q2 Results Beat Estimates; Raises FY21 Outlook

  • Interpublic Group of Companies Inc (NYSE: IPG) reported second-quarter FY21 net revenue growth of 22% to $2.27 billion and total revenue growth of 24% to $2.51 billion, versus the analyst consensus estimate of $2.08 billion.
  • Selling, administrative, and engineering expenses were $29.4 million.
  • Operating income for the quarter was $384.4 million.
  • Adjusted EBITA before restructuring charges amounted to $405.8 million, with a margin of 17.9%.
  • Adjusted EPS of $0.70 beat the analyst consensus of $0.42.
  • Total debt was $3.47 billion as of June 30, 2021.
  • Cash and equivalents totaled $2.34 billion as of June 30, 2021.
  • Outlook: Interpublic now sees FY21 organic growth of 9% – 10%, versus the prior outlook of 5.0% to 6.0%.
  • The company now sees an adjusted EBITA margin of about 16.0%, versus the prior outlook of approximately 15.5%.
  • Price action: IPG shares are trading higher by 2.56% at $32.07 in premarket on the last check Wednesday.

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