Advantage Solutions Inc. Stock Price, News & Analysis

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.

Advantage Solutions (Nasdaq: ADV) will release its third quarter 2022 results on November 9, 2022, after market close. This will be followed by a conference call at 5:00 p.m. ET. Investors can access the call by phone or via a webcast on the company's Investor Relations website. A replay will be available shortly after the call and accessible until November 16, 2022. Advantage Solutions offers data-driven sales and marketing solutions to enhance the sales reach of consumer goods companies and retailers globally.

Advantage Solutions reported a 15.4% year-over-year revenue increase for Q2 2022, totaling $981.1 million. This growth is attributed to the recovery in in-store sampling and marketing services. However, operating income fell by 33.4% to $28.3 million, with net income decreasing 36.1% to $3.7 million. Adjusted EBITDA also declined 11.2% to $108.3 million. Despite challenges like wage inflation, the company is confident about the second half of 2022 and reaffirms its full-year Adjusted EBITDA guidance of $490 million to $510 million.