Advantage Solutions Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 07:00 am
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Advantage Solutions Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,079.75 million compared to USD 1,102.76 million a year ago. Net income was USD 17.43 million compared to net loss of USD 1,423.9 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to basic loss per share from continuing operations of USD 4.45 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to diluted loss per share from continuing operations of USD 4.45 a year ago.
For the full year, sales was USD 4,224.85 million compared to USD 4,049.74 million a year ago. Net loss was USD 63.26 million compared to USD 1,380.5 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to USD 4.33 a year ago. Diluted loss per share from continuing operations was USD 0.2 compared to USD 4.33 a year ago.
Advantage Solutions Inc. is a provider of outsourced solutions sales and marketing solutions. Its data- and technology-driven services include headquarter sales, retail merchandising, in-store and online sampling, digital commerce, omnichannel marketing, retail media and others. The Company operates in two segments. The Sales segment provides its clients with a range of outsourced solutions to enhance sales in the traditional retail and e-commerce channels. Its primary sales services include Brand-Centric Services (headquarter relationship management; analytics, insights and intelligence, and Brand-Centric Merchandising) and Retailer-Centric Services (Retailer-Centric Merchandising and In-Store Media). The Marketing Segment helps brands and retailers reach consumers through brand-centric services (Shopper and Consumer Marketing and Brand Experiential), retailer-centric services (Brand Experiential and Private Label), digital marketing, and digital media, and advertising.