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Nielsen Holdings Plc (NLSN) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Nielsen Holdings Plc

CIK: 1492633 Ticker: NLSN

Exhibit 99.1

 

News Release

 

Investor Relations: Sara Gubins, +1 646 654 8153

Media Relations: Laura Nelson, +1 203 563 2929

 

NIELSEN REPORTS 3rd QUARTER 2018 RESULTS

New York, USA – October 25, 2018 –

Nielsen Holdings plc (NYSE: NLSN) today announced its third quarter 2018 results. Revenues were $1,600 million for the third quarter of 2018, down 2.5%, or 0.6% on a constant currency basis, compared to the third quarter of 2017. Net income per share on a diluted basis was $0.27 per share, compared to $0.41 per share in the third quarter of 2017. Cash flow from operations decreased to $387 million for the third quarter of 2018, from $538 million in the third quarter of 2017. Free cash flow for the third quarter of 2018 decreased to $266 million, compared to $425 million in the third quarter of 2017.

“The third quarter revenue and earnings are consistent with our updated 2018 guidance despite a number of near-term challenges in our markets. We have a number of key initiatives and actions that we are pursuing to improve our future outlook,” said Jim Attwood, Executive Chairman of the Board. “Together with the Board of Directors, we are aligned on a set of operational priorities to drive the business forward. In addition, the Board of Directors, with the assistance of our advisors and management team, is focused on the expanded strategic review that we announced in September, which includes a broad review of strategic alternatives for Nielsen and its businesses.”

Revenues within the Watch segment for the third quarter of 2018 increased 0.8% to $845 million, or 1.4% on a constant currency basis, compared to the third quarter of 2017. Audience Measurement of Video and Text revenues increased 4.7%, or 5.2% on a constant currency basis, due to continued client adoption of our Total Audience Measurement system and our ongoing investments, including Gracenote. Marketing Effectiveness revenues decreased 10.1% on both a reported and constant currency basis, primarily driven by pressure on our clients and partners from changes to consumer data privacy protocols. Audio revenues decreased 1.6% on both a reported and constant currency basis.

Revenues within the Buy segment for the third quarter of 2018 decreased 6.0% to $755 million, or 2.7% on a constant currency basis, compared to the third quarter of 2017. Buy Developed Markets revenues decreased 2.0%, or 0.8% on a constant currency basis, primarily driven by continued pressure in the fast moving consumer goods industry in the U.S. Buy Emerging Markets revenues decreased 9.4%, or 2.5% on a constant currency basis, primarily driven by pressure on multinational client spend and continued softness in China.

Net income for the third quarter of 2018 decreased 34.2% to $96 million, or 31.4% on a constant currency basis, compared to $146 million in the third quarter of 2017, as a result of softer revenues, higher restructuring charges, retailer investments, and other growth initiatives. Net income per share on a diluted basis was $0.27 per share, compared to $0.41 per share in the third quarter of 2017.

Adjusted EBITDA for the third quarter of 2018 decreased 9.2% to $471 million, or 7.5% on a constant currency basis, compared to the third quarter of 2017. Adjusted EBITDA margins contracted 219 basis points on both a reported and constant currency basis to 29.4%, due to softer revenues and continued investments in our Buy and Watch segments, partly offset by productivity initiatives.

Dave Anderson, Chief Financial Officer, commented, “In the third quarter, we continued to drive adoption of Total Audience Measurement. In Buy, we saw a continuation of challenging end market trends. The leadership team remains focused on executing key growth initiatives to drive improved results. We are also making good progress on efficiency initiatives which are generating increased net productivity in 2018. Importantly, we are reiterating our 2018 guidance for revenue, adjusted EBITDA, and GAAP EPS. However, we are lowering our 2018 free cash flow guidance from $550 to $575 million to $450 to $500 million due to continued working capital headwinds.”

Financial Position

As of September 30, 2018, Nielsen’s cash and cash equivalents were $446 million and gross debt was $8,611 million. Net debt (gross debt less cash and cash equivalents) was $8,165 million and Nielsen’s net debt leverage ratio was 4.21x at the end of the quarter. Net capital expenditures were $121 million for the third quarter of 2018, compared to $113 million for the third quarter of 2017. Cash taxes were $35 million for the third quarter of 2018, compared to $53 million for the third quarter of 2017.

Cash flow from operations decreased to $387 million for the third quarter of 2018, from $538 million in the third quarter of 2017. Free cash flow for the third quarter of 2018 decreased to $266 million, compared to $425 million in the third quarter of 2017. Cash flow performance was driven by lower net income, working capital pressure, and higher cash restructuring.

 

 


The following information was filed by Nielsen Holdings Plc (NLSN) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Nielsen Holdings Plc's 10-Q Quarterly Report:

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Condensed Consolidated Balance Sheets (Unaudited)
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Changes In And Reclassification Out Of Accumulated Other Comprehensive Loss By Component - Summary Of Changes In Accumulated Other Comprehensive Loss, Net Of Tax By Component (Detail)
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Long-Term Debt And Other Financing Arrangements - Summary Of Long-Term Debt (Parenthetical) (Detail)
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Restructuring Activities - Summary Of Changes In Liabilities For Restructuring Activities (Detail)
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Revenue Recognition - Summary Of Contract Assets And Contract Liabilities From Contracts With Customers (Detail)
Revenue Recognition - Summary Of Revenue Disaggregated By Segment Including By Primary Geographic Markets For Buy And By Major Product For Watch, And By Timing Of Revenue Recognition (Detail)
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Nielsen Holdings Plc provided additional information to their SEC Filing as exhibits

Ticker: NLSN
CIK: 1492633
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-025003
Submitted to the SEC: Thu Oct 25 2018 6:41:34 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Business Services

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