Omnicom reported a third-quarter revenue gain of 8.5% to nearly $3.9 billion, with organic revenue growth (which excludes currency and M&A impact) of 6.5%. 

Organic growth by discipline for the quarter was 9.4% for advertising & media, 35.3% for experiential (with a boost from Olympics and election-year activities), 4.3% for public relations, 0.8% for precision marketing, and 0.3% for execution & support, partially offset by declines of 1.1% for healthcare, and 5.4% for branding & retail commerce. 

Organic growth by region for the quarter:  6.5% for the U.S., 10.9% for Asia Pacific, 6.8% for Europe, 24.8% for the Middle East & Africa, 8.7% for Latin America, and 1.5% for Canada, partially offset by a decline of 0.2% for the United Kingdom. 

“We are very pleased with our results for the quarter and first nine months” of the year, CEO John Wren told analysts on an earnings call late Tuesday. 

Wren said the company is on track to achieve the “higher end” of its organic growth target of between 4% and 5% for full-year 2024.  

Wren said that the company’s consolidation of its production capabilities and creation of a new content studio helped it tip the balance in recent wins like Kenvue and Bimbo Bakeries USA. He also cited the firm’s recent Amazon Americas and Michelin wins as evidence of the strong appeal of its media offering in the marketplace.  

Wren also said that its Flywheel unit will generate double-digit growth going forward. “We knew that connecting marketing and sales would be a game changer for clients,” he said.  

As for the Group’s precision marketing unit, Wren noted performance in the U.S. was “very strong,” with some shortfalls in international markets including the UK.   

“The industry is in better shape than it was five or six years ago,” said Wren, adding: “I remain bullish about our prospects.”

Omnicom is also a different business than it was five years ago, he said, with a “broader group of services and clients.” 

As to whether 5% growth is sustainable in the following years, CFO Phil Angelastro remarked that “it’s too early to say that."