Omnicom Group Q3 2024 10-Q Filed

TL;DR

OMC 10-Q filed: Q3 2024 financials out, debt maturities noted.

AI Summary

Omnicom Group Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial instruments mentioned include various senior notes due in 2027, 2031, 2032, and 2033, indicating ongoing debt management. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides investors with a quarterly update on Omnicom's financial health and operational status, crucial for understanding the company's performance in the advertising and marketing sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• Omnicom Group Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-16 (date) — Date of filing
• A0.80SeniorNotesDue2027Member (financial_instrument) — Debt instrument mentioned
• A1.40SeniorNotesDue2031Member (financial_instrument) — Debt instrument mentioned

FAQ

Key Financial Figures

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

Filing Documents

• omc-20240930.htm (10-Q) — 1367KB
• a2024q3exhibit101.htm (EX-10.1) — 108KB
• a2024q3exhibit311.htm (EX-31.1) — 9KB
• a2024q3exhibit312.htm (EX-31.2) — 10KB
• a2024q3exhibit32.htm (EX-32) — 10KB
• 0000029989-24-000027.txt ( ) — 5890KB
• omc-20240930.xsd (EX-101.SCH) — 32KB
• omc-20240930_cal.xml (EX-101.CAL) — 69KB
• omc-20240930_def.xml (EX-101.DEF) — 124KB
• omc-20240930_lab.xml (EX-101.LAB) — 411KB
• omc-20240930_pre.xml (EX-101.PRE) — 267KB
• omc-20240930_htm.xml (XML) — 832KB

FINANCIAL INFORMATION Page

PART I. FINANCIAL INFORMATION Page

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets - September 30, 2024 and December 31, 2023 1 Consolidated Statements of Income - Three and Nine Months Ended September 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income - Three and Nine Months Ended September 30, 2024 and 2023 3 Consolidated Statements of Equity - Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Cash Flows - Nine Months Ended September 30, 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 15 Consolidated Results of Operations 18 Non-GAAP Financial Measures 26 Liquidity and Capital Resources 27 Critical Accounting Estimates 29

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Other Information 32

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 33 Signatures 33 i

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements OMNICOM GROUP INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) September 30, 2024 December 31, 2023 (Unaudited) ASSETS: Current Assets: Cash and cash equivalents $ 3,533.9 $ 4,432.0 Accounts receivable, net of allowance for doubtful accounts of $ 21.4 and $ 17.2 8,570.0 8,659.8 Work in process 1,898.4 1,342.5 Other current assets 1,107.2 949.9 Total Current Assets 15,109.5 15,384.2 Property and Equipment at cost, less accumulated depreciation of $ 1,152.3 and $ 1,150.4 868.3 874.9 Operating Lease Right-Of-Use Assets 1,044.0 1,046.4 Equity Method Investments 65.8 66.4 Goodwill 10,928.0 10,082.3 Intangible Assets, net of accumulated amortization of $ 879.5 and $ 863.6 539.4 366.9 Other Assets 241.6 223.5 TOTAL ASSETS $ 28,796.6 $ 28,044.6 LIABILITIES AND EQUITY: Current Liabilities: Accounts payable $ 10,937.5 $ 11,634.0 Customer advances 1,303.2 1,356.2 Current portion of debt 750.0 750.5 Short-term debt 16.9 10.9 Taxes payable 270.4 351.6 Other current liabilities 2,087.7 2,142.8 Total Current Liabilities 15,365.7 16,246.0 Long-Term Liabilities 874.2 887.7 Long-Term Liability - Operating Leases 816.8 853.0 Long-Term Debt 6,180.1 4,889.1 Deferred Tax Liabilities 558.5 529.1 Commitments and Contingent Liabilities (Note 13) Temporary Equity - Redeemable Noncontrolling Interests 476.0 414.6 Equity: Shareholders' Equity: Preferred stock — — Common stock 44.6 44.6 Additional paid-in capital 415.2 492.0 Retained earnings 11,190.2 10,571.5 Accumulated other comprehensive income (loss) ( 1,274.3 ) ( 1,337.6 ) Treasury stock, at cost ( 6,424.4 ) ( 6,154.2 ) Total Shareholders' Equity 3,951.3 3,616.3 Noncontrolling interests 574.0 608.8 Total Equity 4,525.3 4,225.1 TOTAL LIABILITIES AND EQUITY $ 28,796.6 $ 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 STATEM

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 disruptions, 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 fut

View Full Filing

View this 10-Q filing on SEC EDGAR