• by Steve McClellan  @mp_mcclellan, October 19, 2021

Omnicom’s revenue in the third quarter increased 7.1% to more than $3.4 billion, the company reported today, after the close of the financial markets. 

Organic revenue growth in the third quarter was 11.5% and 10.5% for the first nine months.  

On a late afternoon earnings call, Omnicom CEO John Wren said the company is projecting full-year organic growth of 9% which in part is based on a conservative Q4 growth estimate of approximately 5% to 6% growth.

Wren characterized the company’s outlook as “very reliable.” He said that clients are generally optimistic about consumer spending increases as the pandemic eases. But the optimism is tempered in the near term by potential supply issues and concerns that meeting consumer demands may prove challenging.

By discipline in Q3 organic growth gains were: 8.6% for Advertising, 24.3% for CRM Precision Marketing, 18.0% for CRM Commerce and Brand Consulting, 49.9% for CRM Experiential, 8.3% for CRM Execution & Support, 10.5% for Public Relations and 6.6% for Healthcare.

Q3 growth in the U.S. was 7.7%, on the low side compared to other regions. The sale of barter trade unit Icon International and the still somewhat depressed experiential businesses were cited as factors.

Growth in other regions for the quarter: 11.4% for the United Kingdom, 14.9% for the Euro Markets & Other Europe, 19.6% for Asia Pacific, 15.9% for Latin America and 24.3% for the Middle East & Africa.

Omnicom’s stock was basically flat during the Thursday trading session and down nearly 3% in after market trading on the earnings news.