Advantage Solutions Inc. reported its summarized quarterly results as recast for the three months ended June 30, 2024. The company's total revenues from continuing operations for this period amounted to $873,357 thousand, showing a decrease from the previously reported total revenues from continuing and discontinued operations of $902,231 thousand for the three months ended March 31, 2024.
In terms of operating income from continuing operations, the company reported a loss of $91,259 thousand for the three months ended June 30, 2024. This is a notable change compared to the previously reported operating loss of $81,439 thousand for the three months ended March 31, 2024.
When looking at Adjusted EBITDA from continuing operations, the company reported $89,898 thousand for the three months ended June 30, 2024. This is a decrease from the previously reported Adjusted EBITDA from Continuing and Discontinued Operations of $97,836 thousand for the three months ended March 31, 2024.
Breaking down the performance by segment, the Branded Services segment saw a decrease in total revenues net of pass-through costs from $284,134 thousand for the three months ended June 30, 2024, compared to $282,425 thousand for the three months ended March 31, 2024.
In terms of operating (loss) income for the Branded Services segment, the company reported a loss of $107,280 thousand for the three months ended June 30, 2024, compared to a loss of $22,118 thousand for the three months ended March 31, 2024.
These figures indicate a decline in performance for Advantage Solutions Inc. in the most recent quarter, as reflected in the decrease in total revenues and Adjusted EBITDA from continuing operations, as well as the increased operating loss for the Branded Services segment. As a result of these announcements, the company's shares have moved 1.1% on the market, and are now trading at a price of $2.84. For more information, read the company's full 8-K submission here.
