Investor Presentaiton
$US Dollars in millions
Q2 '22 Financial Results
Three Months Ended
June 30,
Three Months
Ended
March 31,
2022
2021
Variance
2022
Revenue
$
954.0 $
861.6
10.7 % $
843.5
Direct operating expenses
365.4
320.5
14.0 %
330.5
SG&A expenses
379.1
372.6
1.7 %
384.3
Depreciation & amortization
110.8
127.9
(13.4)%
114.1
Impairment charges
0.2
1.3
Other operating expenses
15.7
12.4
0.9
Operating income
$
82.9 $
28.1
$
12.3
Depreciation & amortization
110.8
127.9
114.1
Impairment charges
0.2
1.3
Other operating expenses
15.7
12.4
0.9
Share-based compensation
8.6
5.9
5.5
Restructuring expenses
Adjusted EBITDA
19.0
10.2
11.1
$
237.2 $
184.5
28.5 % $
145.2
17
Notes: In this presentation, Adjusted EBITDA is defined as consolidated Operating income adjusted to exclude restructuring expenses included within Direct operating expenses and Selling, General
and Administrative expense ("SG&A") and share-based compensation expenses included within SG&A, as well as the following line items presented in our Statements of Operations: Depreciation
and amortization; Impairment charges; and Other operating expense (income), net. See reconciliations in the Appendix.
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