The Interpublic Group of Companies, Inc. (IPG) Q1 2023 Earnings Call Transcript

The Interpublic Group of Companies, Inc. (NYSE:IPG) Q1 2023 Earnings Conference Call April 27, 2023 8:30 AM ET

Company Participants

Jerry Leshne - Senior Vice President-Investor Relations

Philippe Krakowsky - Chief Executive Officer

Ellen Johnson - Chief Financial Officer

Conference Call Participants

Steve Cahall - Wells Fargo

David Karnovsky - JPMorgan

Tim Nollen - Macquarie

Michael Nathanson - MoffettNathanson

Lina Ghayor - BNP Paribas

Julien Roch - Barclays

Cameron McVeigh - Morgan Stanley

Operator

Good morning, and welcome to the Interpublic Group First Quarter 2023 Conference Call. [Operator Instructions] This conference is being recorded. If you have any objections, you may disconnect at this time.

I would now like to introduce Mr. Jerry Leshne, Senior Vice President of Investor Relations. Sir, you may begin.

Jerry Leshne

Good morning. Thank you for joining us. This morning, we are joined by our CEO, Philippe Krakowsky; and by Ellen Johnson, our CFO.

We have posted our earnings release and our slide presentation on our website, interpublic.com. We will begin our call with prepared remarks to be followed by Q&A. We plan to conclude before market open at 9:30 Eastern.

During this call, we will refer to forward-looking statements about our company. These are subject to the uncertainties and the cautionary statement that is included in our earnings release and the slide presentation. These are further detailed in our 10-Q and other filings with the SEC.

We will also refer to certain non-GAAP measures. We believe that these measures provide useful supplemental data that, while not a substitute for GAAP measures, allow for greater transparency in the review of our financial and operational performance.

At this point, it is my pleasure to turn things over to Philippe Krakowsky.

Philippe Krakowsky

Thank you, Jerry, and good morning. As usual, I'll begin our call with an overview of our performance in the quarter. Ellen will then provide additional details, and I'll conclude with updates on highlights at our agencies to be followed by your Q&A. Let's start at the top with revenue. The organic change of our revenue before billable expenses was a decrease of 20 basis points against last year's very strong first quarter organic growth of 11.5%. That performance is consistent with our internal forecast, not only for IPG as a whole, but across our operating segments and at the individual agency level.