Stagwell Inc (STGW) News & EventsSTGWNews & EventsStagwell Inc

Stagwell Appoints Bet Kaplan to Board of Directors

Stagwell (STGW) announced the appointment of Bet Kaplan to its Board of Directors. Kaplan previously served as President, Chief Operating Officer and a director of Rent the Runway (RENT).

Company Reiterates Net Revenue Growth of 8% to 12%

Consensus $1.05. Total Net Revenue growth of 8% to 12% is reiterated; Adjusted EBITDA of $475 million to $525 million is reiterated; Free Cash Flow Conversion of 50% to 60% is reiterated. Guidance includes anticipated impact from acquisitions or dispositions.

Stagwell Reports Q2 Revenue of $786M

Reports Q2 revenue $786M, consensus $755.06M. "Our second quarter results demonstrate Stagwell is thriving in today's AI era. Stagwell's unique combination of software, services and engineers is being embraced by the industry leading to another record-breaking Net New Business quarter of $171 million, highlighted by recent wins with IBM, Adobe, Mondelez and Heineken," said Mark Penn, Chairman and CEO of Stagwell. "Our organic net revenue growth continues to accelerate, led by 18% growth in our Digital Transformation segment, and 12% growth in Communications as the political cycle starts to ramp up. Strong growth, combined with proactive cost management and share repurchases, means we are raising our adjusted EPS outlook for the year today, and we expect to deliver double-digit growth in the second half, the lions' share of which will be organic."