First Quarter 2023 Earnings Conference Call
Overview - First Quarter 2023
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Total revenue including billable expenses was $2.5 billion
Organic decrease of revenue before billable expenses ("net revenue") was -0.2%,
against +11.5% a year ago
US organic decrease was -0.9%
International organic growth was +1.2%
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Net income as reported was $126.0 million, with adjusted EBITA before restructuring
charges of $210.8 million and 9.7% margin on revenue before billable expense
Diluted EPS was $0.33 as reported and $0.38 as adjusted
Repurchased 2.2 million shares returning $78 million to shareholders
Organic change of Net Revenue, adjusted EBITA before Restructuring Charges and adjusted diluted EPS are non-GAAP measures. Management believes these metrics provide useful supplemental data that, while not a
substitute for GAAP measures, allow for greater transparency in the review of our financial and operational performance. See our non-GAAP reconciliations of Organic Change of Net Revenue on page 14 and adjusted
results on pages 15 and 18.
Interpublic Group of Companies, Inc.
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