Omnicom Group Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Omnicom Group Inc. has filed its Q1 2024 10-Q report, detailing financial performance and position as of March 31, 2024.</b>

AI Summary

OMNICOM GROUP INC. (OMC) filed a Quarterly Report (10-Q) with the SEC on April 17, 2024. Omnicom Group Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year 2024. The company's principal business is advertising agencies. The report includes financial data for the periods ending March 31, 2024, and March 31, 2023. Key financial statement components such as common stock, retained earnings, and treasury stock are detailed.

Why It Matters

For investors and stakeholders tracking OMNICOM GROUP INC., this filing contains several important signals. This filing provides investors with the latest financial snapshot of Omnicom Group Inc., crucial for understanding its performance and financial health in the current quarter. The detailed financial statements and disclosures within the 10-Q allow stakeholders to assess the company's operational results, balance sheet, and cash flows, informing investment decisions.

Risk Assessment

Risk Level: low — OMNICOM GROUP INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new risks or material adverse events beyond typical business operations.

Analyst Insight

Review the detailed financial statements and segment information in the 10-Q to assess Omnicom's revenue trends and profitability drivers for Q1 2024.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly report end date)
• 2024-04-17 — Filing Date (Date the report was filed)
• 2023-03-31 — Prior Period End Date (Comparison period end date)
• 1231 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• OMNICOM GROUP INC. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-04-17 (date) — Filing date
• 280 PARK AVENUE (address) — Business address
• NEW YORK (location) — Business address city
• NY (location) — Business address state
• 10017 (postal_code) — Business address zip
• 7311 (sic_code) — Standard Industrial Classification

FAQ

Industry Context

Omnicom Group Inc. operates within the advertising and marketing services industry, providing a wide range of services including advertising, media planning and buying, public relations, and branding.

Regulatory Implications

The company is subject to SEC regulations for public companies, requiring regular filings such as this 10-Q to ensure transparency and provide financial information to investors.

What Investors Should Do

1. Analyze the balance sheet details for March 31, 2024, and compare with March 31, 2023.
2. Examine any disclosed notes to the financial statements for significant accounting policies or events.
3. Review the company's business description to confirm its primary operations in advertising agencies.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-17: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first quarterly update after the year-end report.

Key Financial Figures

• $0.15 — ange on which registered Common Stock, $0.15 Par Value OMC New York Stock Exchange

Filing Documents

• omc-20240331.htm (10-Q) — 1003KB
• a2024q1exhibit311.htm (EX-31.1) — 9KB
• a2024q1exhibit312.htm (EX-31.2) — 10KB
• a2024q1exhibit32.htm (EX-32) — 10KB
• 0000029989-24-000014.txt (&nbsp;) — 5090KB
• omc-20240331.xsd (EX-101.SCH) — 30KB
• omc-20240331_cal.xml (EX-101.CAL) — 67KB
• omc-20240331_def.xml (EX-101.DEF) — 124KB
• omc-20240331_lab.xml (EX-101.LAB) — 401KB
• omc-20240331_pre.xml (EX-101.PRE) — 261KB
• omc-20240331_htm.xml (XML) — 704KB

FINANCIAL INFORMATION Page

PART I. FINANCIAL INFORMATION Page

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets - March 31, 2024 and December 31, 2023 1 Consolidated Statements of Income - Three Months Ended March 31, 2024 and 2023 2 Consolidated Statements of Comprehensive Income - Three Months Ended March 31, 2024 and 2023 3 Consolidated Statements of Equity - Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Cash Flows - Three Months Ended March 31, 2024 and 2023 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Forward-Looking Statements 14

Forward-Looking Statements 14 Executive Summary 14 Consolidated Results of Operations 17 Non-GAAP Financial Measures 23 Liquidity and Capital Resources 24 Critical Accounting Estimates 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27

Other Information 27

Item 5. Other Information 27

Exhibits

Item 6. Exhibits 28 Signatures 28 i

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements OMNICOM GROUP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) March 31, 2024 December 31, 2023 (Unaudited) ASSETS: Current Assets: Cash and cash equivalents $ 3,172.8 $ 4,432.0 Accounts receivable, net of allowance for doubtful accounts of $ 23.0 and $ 17.2 7,905.8 8,659.8 Work in process 1,711.6 1,342.5 Other current assets 1,076.1 949.9 Total Current Assets 13,866.3 15,384.2 Property and Equipment at cost, less accumulated depreciation of $ 1,162.5 and $ 1,150.4 860.2 874.9 Operating Lease Right-Of-Use Assets 1,021.1 1,046.4 Equity Method Investments 64.8 66.4 Goodwill 10,693.8 10,082.3 Intangible Assets, net of accumulated amortization of $ 857.5 and $ 863.6 533.0 366.9 Other Assets 236.4 223.5 TOTAL ASSETS $ 27,275.6 $ 28,044.6 LIABILITIES AND EQUITY: Current Liabilities: Accounts payable $ 10,337.7 $ 11,634.0 Customer advances 1,238.2 1,356.2 Current portion of debt 750.3 750.5 Short-term debt 11.2 10.9 Taxes payable 381.0 351.6 Other current liabilities 2,235.4 2,142.8 Total Current Liabilities 14,953.8 16,246.0 Long-Term Liabilities 916.2 887.7 Long-Term Liability - Operating Leases 827.2 853.0 Long-Term Debt 5,501.0 4,889.1 Deferred Tax Liabilities 514.8 529.1 Commitments and Contingent Liabilities (Note 12) Temporary Equity - Redeemable Noncontrolling Interests 428.4 414.6 Equity: Shareholders' Equity: Preferred stock — — Common stock 44.6 44.6 Additional paid-in capital 512.0 492.0 Retained earnings 10,751.3 10,571.5 Accumulated other comprehensive income (loss) ( 1,415.9 ) ( 1,337.6 ) Treasury stock, at cost ( 6,322.5 ) ( 6,154.2 ) Total Shareholders' Equity 3,569.5 3,616.3 Noncontrolling interests 564.7 608.8 Total Equity 4,134.2 4,225.1 TOTAL LIABILITIES AND EQUITY $ 27,275.6 $ 28,044.6 The accompanying notes to the consolidated financial statements are an integral part of these statements. 1 OMNICOM GROUP INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Dollars in tables in millions, except per share amounts) 1. Presentation of Financial Statements The terms "Omnicom," "the Company," "we," "our" and "us" each refer to Omnicom Group Inc. and its subsidiaries, unless the context indicates otherwise. The accompanying unaudited consolidated financial statements were prepared in accordance with generally accepted accounting principles in the United States, or U.S. GAAP or GAAP, for interim financial information and Article 10 of Regulation S-X of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures have been condensed or omitted. In our opinion, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation, in all material respects, of the information contained herein. These unaudited consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2023, or 2023 10-K. Results for the interim periods are not necessarily indicative of results that may be expected for the year. Risks and Uncertainties Global economic challenges, including geopolitical events, international hostilities, acts of terrorism, public health crises, high and sustained inflation in countries that comprise our major markets, high interest rates, and labor and supply chain issues could cause economic uncertainty and volatility. The impact of these issues on our business will vary by geographic market and discipline. We monitor economic conditions closely, as well as client revenue levels and other factors. In response to reductions in revenue, we can take actions to align our cost structure with changes in client demand and manage our working capital. However, there can be no assurance as to the effectiveness of our efforts to mitigate any impact of the current and futu

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View this 10-Q filing on SEC EDGAR