In line ex tax benefit; US weak again
2.0% organic revenue growth fell short of the 2.3% consensus and is at the low end of the company's 2-3% full year guidance. Within that the US fell considerably short at -0.9% (AE +1.1%), the third quarter in a row of contraction. International was well ahead with estimated organic growth of 6.5% led by Europe and Asia Pacific. Absolute revenues were ~1% light due to disposals and a lower than anticipated FX benefit. Operating margins rose 20bp (in line) but operating income of $582m was 1% light due to the lower revenue. EPS of $1.60 included a $0.06 tax benefit and was in line ex that.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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