- Interpublic Group (NYSE:IPG) is up 10.7% on NYSE and inching closer to a 52-week high after posting Q4 earnings that beat on top and bottom lines and portended a reversal from a slow year.
- Revenue rose 3.5% and organic revenue was up 3.3% (up 3.7% in U.S., up 2.9% internationally).
- Operating income was $518.3M, up from $485.7M the prior year; operating margin rose to 22.1% from 21.4%.
- Net income was $316.6M, down slightly from $317.6M; results included a one-time $36M net benefit due to tax reform enactment.
- Cash, equivalents and marketable securities came to $791M at Dec. 31, vs. the prior year's $1.1B. Total debt was $1.37B vs. the prior year's $1.69B.
- The company also authorized a new buyback program for $300M in company stock; it has no expiration date. And it declared a quarterly common stock dividend of $0.21 vs. last year's $0.18.
- "Looking ahead to 2018, we are targeting organic revenue growth in the range of 2% to 3% and operating margin expansion of 20 basis points over the results we are reporting today, which will build on our strong long-term record of improving profitability," says Chairman/CEO Michael Roth.
- Press release
- Now read: Interpublic Group of Companies Inc. 2017 Q4 - Results - Earnings Call Slides
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