Omnicom Group Inc. (OMC) Q1 2023 Earnings Call Transcript

Omnicom Group Inc. (NYSE:OMC) Q1 2023 Earnings Conference Call April 18, 2023 4:30 PM ET

Company Participants

Gregory Lundberg - Senior Vice President, Investor Relations

John Wren - Chairman and Chief Executive Officer

Phil Angelastro - Executive Vice President and Chief Financial Officer

Conference Call Participants

David Karnovsky - JPMorgan

Ben Swinburne - Morgan Stanley

Tim Nollen - Macquarie

Steven Cahall - Wells Fargo

Jason Bazinet - Citi

Craig Huber - Huber Research Partners

Operator

Good afternoon and welcome to the Omnicom First Quarter 2023 Earnings Release Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

At this time, I’d like to introduce you to your host for today’s conference, Senior Vice President of Investor Relations, Gregory Lundberg. Please go ahead.

Gregory Lundberg

Thank you for joining our first quarter 2023 earnings call. With me today are John Wren, Chairman and Chief Executive Officer; and Phil Angelastro, Executive Vice President and Chief Financial Officer. On our website, omnicomgroup.com, we have posted a press release along with the presentation covering the information we will review today as well as a webcast of this call. An archived version will be available when today’s call concludes.

Before we start, I would like to remind everyone to read the forward-looking statements and non-GAAP financial and other information that we have included at the end of our investor presentation. Certain of the statements made today may constitute forward-looking statements and these statements represent our present expectations. Relevant factors that could cause actual results to differ materially are listed in our earnings materials and in our SEC filings, including our 2022 Form 10-K.

During the course of today’s call, we will also discuss certain non-GAAP measures. You can find the reconciliation of these to the nearest comparable GAAP measures in the presentation materials. We will begin the call with an overview of our business from John, then Phil will review our financial results for the quarter. After our prepared remarks, we will open the line for your questions.

I will now hand the call over to John.

John Wren

Thank you, Greg. Good afternoon, everyone, and thank you all for joining us today. We are pleased to share our first quarter results. As we discussed on our last call, we entered 2023 extremely confident in our strategic and financial position. I am pleased to report that for the first 3 months of the year, we met our internal revenue and margin targets. Organic growth in the first quarter was 5.2%. Our growth was broad-based across disciplines, geographic regions and client sectors.