Omnicom Group (OMC) Q3 FY2021 earnings: revenue $3.4 billion, up 7.1% on the year

Omnicom Group Inc. (OMC) reported revenue of $3.4 billion for Q3 FY2021, the quarter ended 30 September 2021, up 7.1% on the same quarter a year earlier. Net income was $356 million, up 13.5% on the year, and diluted earnings per share $1.65. The figures are the company's own, from the 10-Q it filed with the SEC on 20 October 2021.

Revenue

$3.4 billion

+7.1% on the year · -3.8% on the quarter

Q4 FY2019Q3 FY2021

Operating margin

15.8%

15.6% a year earlier

Q4 FY2019Q3 FY2021

Net income

$356 million

+13.5% on the year · +2.1% on the quarter

Q4 FY2019Q3 FY2021

Diluted EPS

$1.65

+13.8% on the year · +3.1% on the quarter

Q4 FY2019Q3 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Revenue	3,435	3,572	3,206	-3.8%	+7.1%
Cost of revenue	2,747	2,846	2,560	-3.5%	+7.3%
Gross profit	688	725	646	-5.2%	+6.4%
Gross margin	20.0%	20.3%	20.2%
Selling, general and administrative	95.0	103	90.2	-7.9%	+5.3%
Operating income	542	568	501	-4.7%	+8.0%
Operating margin	15.8%	15.9%	15.6%
Interest expense	50.7	80.3	54.4	-36.9%	-6.8%
Pre-tax income	498	495	453	+0.6%	+9.9%
Income tax	120	123	121	-2.6%	-0.7%
Effective tax rate	24.1%	24.9%	26.7%
Net income	356	348	313	+2.1%	+13.5%
Net margin	10.4%	9.7%	9.8%
Diluted EPS	$1.65	$1.60	$1.45	+3.1%	+13.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Operating cash flow	534	165	201	+223.4%	+166.1%
Capital expenditure	19.7	10.5	16.4	+87.6%	+20.1%
Free cash flow	515	155	184	+232.6%	+179.1%
Free cash flow margin	15.0%	4.3%	5.8%
Cash from investing	-20.0	78.9	-79.2
Cash from financing	-377	-786	-182
Depreciation and amortisation	51.1	53.5	54.7	-4.5%	-6.6%
Depreciation	32.4	32.3	34.5	+0.3%	-6.1%
Share-based compensation	18.7	18.3	17.6	+2.2%	+6.2%
Buybacks	171	101	13.9	+69.0%	+1,131.7%
Dividends paid	151	152	140	-1.1%	+7.7%
Dividend per share	$0.70	$0.70	$0.65	0.0%	+7.7%
Diluted shares, weighted	215m	217m	216m	-0.8%	-0.2%
Shares outstanding at period end	213m	214m	215m	-0.9%	-1.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2021	Q2 FY2021	Q3 FY2020	On the quarter	On the year
Shareholders' equity	3,279	3,349	2,639	-2.1%	+24.3%
Non-controlling interest	473	488	483	-3.1%	-2.1%
Short-term borrowings	10.2	9.3	23.6	+9.7%	-56.8%
Debt	5,272	5,301	5,762	-0.5%	-8.5%
Operating lease liabilities	991	1,031	1,149	-3.9%	-13.7%
Other liabilities	15,556	15,476	13,724	+0.5%	+13.4%
Total liabilities and equity	25,581	25,654	23,780	-0.3%	+7.6%
Fixed assets	543	550	588	-1.2%	-7.7%
Goodwill	9,602	9,723	9,438	-1.3%	+1.7%
Intangible assets	278	278	306	+0.1%	-9.2%
Investments	n/a	n/a	0.0
Cash and equivalents	4,431	4,388	3,278	+1.0%	+35.2%
Receivables	7,186	7,246	6,298	-0.8%	+14.1%
Other assets	3,541	3,469	3,870	+2.1%	-8.5%
Total assets	25,581	25,654	23,780	-0.3%	+7.6%

Questions

What was Omnicom Group's revenue in Q3 FY2021?

Omnicom Group (OMC) reported revenue of $3.4 billion for Q3 FY2021, the quarter ended 30 September 2021, up 7.1% on the same quarter a year earlier.

How much did Omnicom Group earn in Q3 FY2021?

Net income for Q3 FY2021 was $356 million, up 13.5% on the year, and diluted earnings per share $1.65.

When did Omnicom Group report Q3 FY2021 results?

Omnicom Group filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 20 October 2021.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,856	3,410	3,567	3,443	3,868	3,443	3,610	3,578	4,061	3,630	3,854	3,883	4,322	3,690	4,016	4,037	5,529	6,243	6,562	6,423
Cost of revenue	3,069	2,905	2,859	2,757	3,086	2,954	2,909	2,875	3,245	3,007	3,172	3,122	3,464	3,061	3,347	3,283	6,114	5,205	5,265	5,064
Gross profit	787	505	708	686	782	490	701	703	816	624	682	761	858	630	668	754	-585	1,038	1,298	1,359
Gross margin	20%	15%	20%	20%	20%	14%	19%	20%	20%	17%	18%	20%	20%	17%	17%	19%	-11%	17%	20%	21%
SG&A	110	96.7	111	86.4	84.5	89.2	99.1	89.8	116	85.3	111	99.5	112	118	170	164	294	224	209	201
Operating income	622	353	542	546	643	346	551	561	647	479	510	600	685	453	439	530	-977	646	922	992
Operating margin	16%	10%	15%	16%	17%	10%	15%	16%	16%	13%	13%	15%	16%	12%	11%	13%	-18%	10%	14%	15%
Interest expense	51.6	51.0	51.2	52.0	54.4	54.9	57.5	53.5	52.6	53.8	62.7	66.4	65.0	59.1	62.6	60.4	81.3	119	123	133
Pre-tax income	578	310	502	517	617	327	523	522	620	452	469	560	647	423	398	487	-1,030	574	829	888
Tax rate	23%	37%	27%	26%	27%	25%	27%	26%	26%	26%	26%	27%	26%	29%	30%	27%	n/a	27%	27%	24%
Net income	416	174	348	364	430	228	366	372	426	319	328	386	448	288	258	341	-941	405	585	656
Net margin	11%	5%	10%	11%	11%	7%	10%	10%	10%	9%	9%	10%	10%	8%	6%	8%	-17%	6%	9%	10%
Diluted EPS	$1.95	$0.83	$1.68	$1.77	$2.09	$1.11	$1.82	$1.86	$2.13	$1.59	$1.65	$1.95	$2.26	$1.45	$1.31	$1.75	-$4.02	$1.35	$2.08	$2.38
Operating cash flow	1,707	-544	-195	489	1,177	-522	-262	406	1,801	-618	-142	569	1,925	-787	210	478	3,037	-553	-379	970
Capital expenditure	623	23.2	19.3	23.1	12.6	23.1	16.9	24.2	14.2	23.1	39.2	31.3	47.0	29.5	42.1	39.1	39.1	61.2	53.9	57.7
Free cash flow	1,084	-568	-215	466	1,164	-545	-279	381	1,787	-642	-181	537	1,878	-816	168	438	2,998	-614	-433	912
Buybacks	254	300	107	94.7	109	305	234	25.5	6.5	180	69.7	113	8.3	81.0	142	89.1	396	2,778	211	222
Dividends paid	149	147	146	144	143	142	143	139	139	139	140	137	137	138	140	136	136	252	230	222
Shares outstanding	209m	206m	205m	204m	203m	200m	198m	198m	198m	196m	196m	195m	196m	195m	194m	193m	313m	285m	274m	273m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2021, filed 20 October 2021: the filing.