N America drop more than offsets strong Int'l
1.6% organic revenue growth missed the 2.3% consensus but better than expected cost controls led to in line 3% operating income growth. The company's closely tracked EBITA margins were up 60bp at 15.5%, 10bp ahead of expectations. EPS adjusted for various tax items beat by $0.01 at $1.55. By geography, North America was notably worse than expected actually declining for the first time in years, while international was better. By discipline, advertising slowed materially to 1.2% from ~4% in the last two quarters while the traditionally volatile Healthcare group (previously called Specialty) fell 1.9%, after averaging 3.5% this year. CRM was better at +3.4% and maybe branding has turned. Weaker results than IPG's yesterday and North American and Advertising are two areas of concern.Omnicom Group is a holding company, engaged in providing advertising, marketing and corporate communications services. The company's networks and agencies provide a range of services in the following fundamental disciplines: advertising, customer relationship management, public relations and healthcare. The company's Service offerings include, among others, advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, and imaging.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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