Advantage Solutions Inc. (ADV) shares soared 11.02% in pre-market trading on Friday, following the appointment of a new Chief Operating Officer for its Branded Services business segment and the release of its fourth-quarter and full-year 2024 financial results.
The company announced the appointment of Dean General, a seasoned retail executive with over 30 years of experience, as the new COO of its Branded Services unit, effective March 24. General replaces Jack Pestello, who is leaving the company on May 1 to pursue new opportunities.
In addition, Advantage Solutions reported strong financial results for the fourth quarter and full year 2024. The company achieved an 8.9% increase in adjusted EBITDA to $94.6 million in Q4 and a 1.1% increase to $356.0 million for the full year, compared to the prior year. Although revenues declined, the company maintained healthy profit performance across its Experiential Services and Retailer Services segments while right-sizing its Branded Services business to adjust to the demand environment.
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