ADV US Earnings call
Advantage Solutions Inc. (ADV) · Q2 2026 results and valuation
Share price: $31.92 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 5 Aug 2026 and 6 May 2026
Net loss narrowed on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Loss narrowed
Net income vs Q1 2026
Outlook given
Net income -62.7M vs -71.8M
Revenue +2.3%
Net income -62.7M vs -30.4M in Q2 2025 and -71.8M last quarter.
2 · How management spoke
Typical
More upbeat than 58% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Guidance
The company expects divestitures to represent a year-over-year headwind of approximately $20 million to revenues and over $10 million to adjusted…
Valuation
Is Advantage Solutions Inc. undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.
Current price
$31.92
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+14.8% for 10 yrs
Fair value / share
$-66.45
Buy below
$-49.84
Price vs fair value
n/a
Price vs buy-below price
n/a
Read between the lines
-
Key theme
CPG merchandising projects performed well this quarter, which may lead to strengthened client retention and improved pipeline conversion as the company expects modest improvement in the second half of 2026.
Source quote
“CPG merchandising projects performed well this quarter, and we are hopeful this is a leading indicator for the rest of the business. That means strengthening client retention and executive engagement, improving pipeline conversion, hiring and retaining the right talent and demonstrating measurable ROI through our data, analytics and execution capabilities. While we are not assuming a near-term inflection, we do expect modest improvement in the second half of 2026.”
-
Guidance
The company expects project-related earnings volatility to moderate in the second half as the pipeline remains encouraging.
Source quote
“The pipeline remains encouraging, and we expect project-related earnings volatility to moderate in the second half.”
-
Figure
ADV achieved nearly 20% revenue growth in Q2 2026 compared to Q1 2026.
Source quote
“Really proud of the team to be able to put up nearly 20% revenue growth and that degree of incremental...”
-
Fading
Quarter net revenues and EBITDA were adjusted down by approximately $5 million and $3 million, respectively, due to divestitures within the Branded Services segment.
Source quote
“These businesses were all contained within our Branded Services segment, and we will call this out for comparability in our discussion... As a result of these divestitures, first quarter net revenues and EBITDA were adjusted down by approximately $5 million and $3 million, respectively. Starting with Branded Services.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Demand for product demonstrations continues to exceed our expectations, with meaningful opportunities to expand event volume across existing customers and support growth with new customers.”
“I mean the growth of emerging brands in the industry and the growth of innovation and new products, even from more established or larger brands, is not slowing down.”
“Experiential Services delivered another very strong quarter and both demand signals and execution continue to improve across this business, giving us confidence in second half growth.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 889.5M | 869.6M | +2.3% | 873.7M | +1.8% |
| Operating income | 1.7M | 4.2M | −59.3% | 10.0M | −83.1% |
| Net income | -62.7M | -71.8M | Loss narrowed | -30.4M | Loss widened |
| EPS | -4.85 | -5.49 | Loss narrowed | -2.35 | Loss widened |
| P/E | 12-mo loss | 12-mo loss | — | 12-mo loss | — |
Topics
Most discussed now
- Advantage Solutions ended the quarter with $102 million in cash, reflecting its continued focus on disciplined capital management and…
- These and thousands of others work in pursuit of exceeding client expectations, and I appreciate the energy and effort they...
- Retailer Services revenues increased 3% year-over-year, but adjusted EBITDA was down approximately 25% year-over-year, reflecting project…
- Together with its focus on disciplined capital allocation and strong cash generation, Advantage Solutions believes these efforts position…
- Advantage Solutions saw a pretty nice lift in project work of a little over 20% year-over-year, which is telling us that...
Faded since Q1 2026
- Fading As a reminder, unless otherwise stated, the financial results discussed today will be from continuing operations and revenues will…
- Fading Advantage Solutions' results reflect continued progress on the growth and productivity initiatives outlined last quarter, especially its…
- Fading Adjusted EBITDA of $68 million was up over 16% and up 22% on a pro forma basis, excluding divestitures, driven...
- Fading This segment remains under pressure due to a challenging macro environment, select client losses and an unfavorable mix shift.
Latest announcements
Official filings, newest first.
- Director or officer change · SEC 8-K
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K
- Change to shareholder rights; Articles or bylaws amended · SEC 8-K
- Shareholder vote results; Regulation FD disclosure · SEC 8-K
- Material agreement; Agreement terminated; New financial obligation · SEC 8-K