Omnicom Group Inc OMC
Q2 2013 Earnings Call Transcript

Transcript Call Date 07/18/2013

Operator: Good morning, ladies and gentlemen and welcome to the Omnicom Second Quarter 2013 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this conference call is being recorded.

At this time, I'd like to introduce you to today's conference call host, Executive Vice President, Chief Financial Officer of Omnicom Group, Mr. Randall Weisenburger. Please go ahead.

Randall J. Weisenburger - EVP and CFO: Good morning. Thank you for taking the time to listen to our second quarter 2013 earnings call. We hope everyone had a chance to review our earnings release. We have posted to our website, both the press release and a presentation covering the information that we'll be presenting this morning.

This call is also being simulcast and will be archived on our website.

Before we start, I've been asked to remind everyone to read the forward-looking statements and other information that's included at the end of our investor presentation, and to point out that certain of the statements made today may constitute forward-looking statements and that these statements are our present expectations and that actual events or results may differ materially.

I'd also like to remind you that during the course of the call, we'll discuss some non-GAAP measures in talking about Omnicom's performance. You can find the reconciliation of those measures to the nearest comparable GAAP measures in the presentation materials.

We're going to begin the call with some brief remarks from John Wren. Following John's remarks, we'll review our financial performance for the quarter, and then both John and I will be happy to take questions.

John D. Wren - President and CEO: Good morning. Thank you for joining us on the call. We are now half way through 2013, and I'm pleased to say that our performance continues to demonstrate the strength, diversity, and stability of our business.

On a global basis, our top and bottom line was consistent with our internal forecast. As you can see in our deck, organic growth was 2.8%, and margins increased during the quarter. Regionally, our performance broadly reflected the different macroeconomic conditions in global markets.

Our business in the United States continues to grow at a steady pace that is slightly faster than the overall economy. In Asia and Latin America, we're experiencing stronger growth, and as you might expect, the Eurozone remains a key geographic challenge.

Before discussing the highlights of our second quarter performance, let me start by providing an update on the progress we are making on our key strategic initiatives. More than at any time in our history, our Company and the agencies are aligned around the common set of strategies that are essential to our growth. These strategies share a goal of helping us meet the rapidly changing needs of our clients by giving them access to the best people and the latest technologies where and when they need it.

First is attracting, retaining and developing top talent; next is expanding our global footprint and moving into new service areas; third is building upon our digital and analytical capabilities by investing in our agencies and partnering with innovative technology companies in key markets around the world; and finally, by delivering innovative solutions using meaningful consumer insights across disciplines and platforms for the benefit of our clients. Our progress is really a reflection of the caliber and contributions of our people.

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