Public Policy Holding ups outlook on expected boost from acquisitions
(Alliance News) - Public Policy Holding Company Inc on Tuesday raised guidance to reflect the impact of acquisitions, as it reported a mixed first half performance.
The Washington, DC-based group of advisory firms, specialising in government affairs and public relations said its net loss narrowed to USD3.7 million on a GAAP basis in the second quarter of 2026 from USD5.7 million a year prior.
Adjusted earnings before interest, tax, depreciation and amortisation fell 4.4% to USD12.3 million, at a 23.5% margin, compared to USD12.8 million at a 26.4% margin a year ago.
Revenue rose 7.3% to USD52.1 million from USD48.6 million a year ago, including organic growth of 4.4%.
GAAP basic and diluted loss per share improved to USD0.19 from USD0.44.
Public Policy said it enters the second half of 2026 from a position of financial strength and thinks it is "well positioned" to continue creating value for shareholders.
For full year 2026, Public Policy raised revenue and adjusted earnings guidance to reflect the expected in-year contribution of acquisitions completed and announced in 2026. The outlook for the underlying business is unchanged, it said.
Last week, Public Policy announced the acquisition of Advocacy Partners, a Florida-based government relations firms, for an initial USD20.4 million. In July, it bought London-based Tancredi Intelligent Communication for an initial GBP8.0 million. In April, it completed the acquisition of Westminster Policy Partners Ltd, a UK public affairs and economics consultancy.
The firm now sees 2026 revenue in the range of USD213 million to USD216 million, previously USD205 million to USD209 million.
It projects adjusted Ebitda between USD48.5 million to USD50.5 million, up from USD46 million to USD48 million, reflecting an adjusted margin between 22.5% and 23.5%, previously 22% to 23%.
The firm expects organic revenue growth of 5%, unchanged from previous guidance.
In 2025, PPHC reported revenue of USD186.5 million and adjusted Ebitda of USD45.4 million at a margin of 24.3%.
Shares in PPHC rose 2.0% to 836.70 pence each in London on Tuesday.
By Jeremy Cutler, Alliance News reporter
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