Advantage Solutions Inc. Stock Price, News & Analysis

Advantage Solutions has been named the No. 1 Promotion and Experiential Marketing Agency Network in the U.S. for the 10th consecutive year, according to the Ad Age Agency Report 2023. Additionally, it ranks No. 5 among the Largest U.S. Agencies from all disciplines, an improvement from No. 11 in 2022, and No. 15 among the World’s Largest Agency Companies. CEO Dave Peacock attributes this success to the creativity and expertise of their marketing teams, emphasizing their commitment to delivering measurable results for clients. The Ad Age Agency Report has been published annually since 1945, providing insights into the agency market.

Advantage Solutions Inc. (Nasdaq: ADV) will announce its first quarter 2023 results before the market opens on May 10, 2023. Following the earnings release, the company will host a conference call at 8:30 AM ET to discuss the results. Investors can join the call by dialing 1-844-825-9789 for domestic calls or 1-412-317-5180 for international callers. A replay will be accessible two hours post-call at 1-844-512-2921 (domestic) or 1-412-317-6671 (international), available until May 17, 2023. Webcast access is also available on the company’s investor relations website. Advantage Solutions, located in Irvine, California, specializes in outsourced sales and marketing solutions for consumer goods companies and retailers, offering a range of services to drive sales and optimize spending.

The board of directors of Advantage Solutions (NASDAQ: ADV) has appointed Jim Kilts as chairman, effective March 31, 2023, following the resignation of Tanya Domier. Kilts is a founding partner of Centerview Capital Consumer and has been involved with Advantage Solutions since 2014. He previously held significant leadership roles, including CEO of Gillette and Nabisco, and has served on various boards. CEO Dave Peacock expressed confidence in Kilts' leadership abilities to drive growth and enhance shareholder value. Kilts emphasized his commitment to collaborating with the executive team to fuel innovation and strategic growth.

Advantage Solutions (NASDAQ: ADV) has appointed Jack Pestello as Chief Operating Officer and Francesco Tinto as Chief Digital Officer, enhancing its leadership team. Pestello, with 30 years of retail experience, will oversee Advantage Sales, driving sales services across the U.S. and Canada. Previously, he held significant roles at Walmart and Big Lots. Tinto, with three decades in technology, will lead Advantage's information technology and data solutions. His past roles include CIO at Walgreens and Kraft Heinz. CEO Dave Peacock expressed enthusiasm for their contributions, signaling a strategic move to boost organizational growth and improve service offerings.

Advantage Solutions Inc. (NASDAQ: ADV) announced the appointments of Chris Growe as CFO, Pamela Morris-Thornton as CHRO, and Kelli Hammersmith as Chief Communications Officer. Growe, effective March 27, joins from Stifel with over 25 years in finance. Morris-Thornton and Hammersmith will begin on March 20, bringing significant HR and communications experience from Panera Bread and Northern Trust, respectively. CEO Dave Peacock expressed excitement about the new hires, emphasizing their potential to drive transformation in the company. Advantage Solutions provides outsourced sales and marketing services to consumer goods manufacturers and retailers.

Advantage Solutions Inc. (NASDAQ: ADV) reported financial results for Q4 and full-year 2022, achieving record revenues of $4 billion. Q4 revenues reached $1.1 billion, up 6.8% year-over-year, even as the company faced a significant operating loss of $1.54 billion due to $1.37 billion in non-cash goodwill impairment. Fiscal 2022 saw a 12.4% revenue increase, primarily from marketing and sales segments, but also a net loss of $1.38 billion. Looking ahead, the company projects 2023 Adjusted EBITDA of $400-$420 million, battling inflation and labor market challenges while expecting growth in in-store services.

Advantage Solutions Inc. (Nasdaq: ADV) announced it will release its fourth-quarter and full-year 2022 results on March 1, 2023, after market close. A conference call is scheduled for 5:00 p.m. ET the same day. Investors can access the call by dialing 1-877-407-4018 (international: 1-201-689-8471) and a replay will be available shortly after. The company, headquartered in Irvine, California, offers outsourced sales and marketing solutions, helping consumer goods companies and retailers enhance their sales through data and technology-driven services. For more information, visit the investor relations section on their website.

Advantage Solutions has announced the appointment of Dave Peacock as the new chief executive officer and a member of the board of directors, effective February 1, 2023. Peacock brings over 30 years of experience in the consumer packaged goods and retail industry, having previously served as president and COO of Schnuck Markets and president of Anheuser-Busch. Chris Baldwin also joins the board on the same date, possessing extensive leadership experience in the sector. The changes follow the resignation of Jill Griffin, who has decided to pursue other business endeavors. Executive Chair Tanya Domier expressed confidence in Peacock's vision for Advantage's future.

Advantage Solutions Inc. reported a 13% year-over-year revenue growth for Q3 2022, reaching $1,051.1 million. This growth is attributed to the recovery in in-store sampling and merchandising services. However, operating income fell by 28.6% to $46.8 million, and net income decreased by 4.5% to $23.2 million. Adjusted EBITDA also declined 11.6% to $118.3 million. Due to labor and inflation challenges, the company revised its 2022 Adjusted EBITDA guidance to $430 million to $440 million, a decrease from previous estimates.