- Second quarter net income was $229.6 million, with adjusted EBITA of $370.1 million and margin of 15.6% on net revenue
- Second quarter diluted EPS was $0.58 as reported and $0.63 as adjusted
- Company expects FY22 organic growth to exceed 6.5% and to deliver 16.6% adjusted EBITA margin for the year
- Company highlights strength of talent, resources, and differentiated solutions
Philippe Krakowsky, CEO of IPG:
“We are pleased to report a strong second quarter and first-half, in which we continued to build on our industry-leading performance over a period of many years. Growth in the quarter was broad-based across world regions, client sectors and our operating units. A differentiator of our performance has been our ability to bring together creativity, digital technology and data to create marketing solutions that are responsive to the evolving business transformation needs of our clients. Our growth is largely driven by these highly relevant capabilities, with which we are solving for an expanding set of marketer needs for more precise, personalized, and accountable engagements at an individual level, with respect for data ethics and compliance.
“Like all companies, as we look ahead we are facing a period of macroeconomic and geopolitical uncertainty, and the limited visibility that comes with such an environment. In April, we upgraded our 2022 organic growth expectation to 6% and given our growth through the first half of the year, we see upside and believe we will exceed 6.5% organic growth for the full year. We continue to expect that we will deliver adjusted EBITA margin of 16.6%.
“We will stay close to and support our people and our clients, remain disciplined in managing our operations, and maintain the strength of our balance sheet. The skill and commitment of our IPG colleagues have helped us to reach the halfway point of the year on strong footing. I’d like to recognize and thank our people for their work, on behalf of clients and in support of each other, as well as their engagement on vital societal issues consistent with our culture and our values.”
- Second quarter 2022 net revenue of $2.38 billion increased by 4.7% compared to $2.27 billion in the second quarter of 2021. During the quarter, our organic net revenue increase was 7.9%, which was comprised of an organic net revenue increase of 8.3% in the U.S. and an increase of 7.1% internationally. Second quarter 2022 total revenue, which includes billable expenses, of $2.74 billion, increased by 9.0% compared to $2.51 billion in 2021.
- First half 2022 net revenue of $4.60 billion increased by 7.1% compared to $4.30 billion in the first half of 2021. During the first half of 2022, our organic net revenue increase was 9.6%, which was comprised of an organic net revenue increase of 10.2% in the U.S. and an increase of 8.6% internationally. First half 2022 total revenue, which includes billable expenses, of $5.30 billion, increased by 11.3% compared to $4.77 billion in 2021.