Nielsen (NLSN) 28 Oct 212021 Q3 Earnings call transcript

Good morning. My name is Julie and I will be your conference operator today. At this time, I would like to welcome everyone to Q3 2021 Nielsen Holdings Earnings Conference Call. [Operator Instructions] Thank you. Sara Gubins, you may begin your conference.

everyone. morning, Good joining financial for discuss third Nielsen’s Thank us XXXX performance. quarter you to joined David I CFO, our by am CEO, Linda Kenny Zukauckas. our and

the section call. Our portion this we call Karthik Rao, under also Investor on on COO, the Relations available Events will will use of our slide A for the is presentation of that be Q&A website.

those responses contain begin, of plans guidance you remarks including and all forward-looking business like may that today remind to to to I’d questions and Before and we of your our the relating statements, COVID-XX. our XXXX impact

Forward-looking statements obligation inherently and our uncertainties update. involve October are of we and to only view XX risks today, reflect and no under as

turn required press financial to Reconciliations available at these the call, also financial we by over now start section at comparable non-GAAP because our it those most subsequent Our except obligation and with XX-K, to to of in any which the actual as release, to earnings call, may as in materials, reports defined no differ and of measures. results in update which reports measures Relations CEO, the website. We periods is a in expected, And uncertainties, of risks future including David statements, currently of Investor certain to disclosure and forward-looking the assume law. X-K to our are materially are On such our filed filings our I’d XX-Q website available nielsen.com. and refer Kenny. today’s on non-GAAP will SEC, available number those the like from our

third our Good morning. Thank you joining quarter earnings for call.

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turn the With please? let’s Linda. you line, open can Thanks, that, to Operator, Q&A. up

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from comes Steinerman Please, JPM. Andrew question with next Your go ahead.

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you very much. Okay, thank

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Capital Dan BMO comes question from next your with Please, go ahead. Markets. Salmon And

Good morning, to circle everyone. on in back I things remarks. David, wanted your prepared of couple a

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Thanks, David.

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Karthik. Thank you, Great.

And comes ahead. Tong from Goldman go next with your Please, Sachs. George question

thanks. Good go Hi, back wanted I morning. revenue your to outlook. to

evolved increased initial and revenue of you your for above quarter? the which specifically full expectations outlook year. your parts tracking the guidance the business XQ your are how has over Can past You discuss

Yes.

annual as – mentioned we So we to Andrew, I give guidance.

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Sure, Karthik, why don’t that? you take

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progressing as Thank us you. the we last and that wanted. So, everything for. months. so accelerate just far clients what at have feel have we the every looking not just asking And is we we very are also in opportunity I But by optimistic like made, also excited and progress are hit say that’s because are go we to out milestones will but we XX the will

because what and referred have vocal underneath your And and said, up wrapping clients couple was is to with who there that a headlines George, Karthik and been question, Linda of had terms performing measurement earlier. just grow To is contrast well. remind would that, exceptionally you of I are organically I X.X%. things I what that audience which said, in would did say,

And clients grow clients continued As digital said, national digital-first has quite great growth. national been the have our I and have of clients components to the nicely.

is there is the the another one reading you about happening press, business. are what in there in So, thing thing actually what’s

Thank you. Very helpful.

comes with go Please ahead. Morgan question Kaplan from next your Tony And Stanley.

can Tony. you Thanks I hoping taking Parrish Linda, little bit sort I Greg talk know our to of addressed, the wanted for you bridge EBITDA on help for a It’s Hi. but about question. guide. margin more.

but compressions called of the You pretty quarter. costs, return look COVID in robust the out fourth

are else So, I am something or we anything out. wondering if maybe missing there to that call else is

your bonuses. Anything I think have bridge previously, given us talked strong. been Thanks. are has pretty those about there? to so you help Maybe significant, performance

for Sure, question. Greg. Thanks the

you to last So, There just maybe well. And a little parts will I lot on of take as kind bit a back of are moving year. like revenue. margin

of started XXXX. of did QX COVID at had to into really time, margins QX that year. that loss First, pronounced on and referenced you costs as XXXX protect revenue, underlying actions QX in temporary and our And we and to moved And we a then declines take we a point, we the levers lessen range contributions. to as different those most had your XXX(k) cut lot salaries executive in from early and of last

have We this is company had. every And of by furloughs. G&E course, been that’s pandemic faced

to XXXX, growth early And initiatives flexibility back gave $XXX in costs. flexibility at the costs to to of have but started it pace. has our come those the that and panel in a to And us restoration come they was business. that given some in so invest And slower continue And about both us invest activities. back temporary million

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recovering probably a but And how we are pandemic. think pretty of that’s good shortly, indication from I this surely, so

were considerably we And lower saw think have is on year. in the out ‘XX important The laid But I got deck that mention to last at we plan earlier, our Page actually our And implemented other referenced optimization margins margins, that thing we really they you margins if again, to protect last I implemented that Greg, as is year. the X. QX XX.X%. plan

most it of on in played phased And so XXXX. the the when margin they and out in. second nice of balance we in the the of implemented XXXX, were gave initiatives us plan, lift a half really that But

the second we so in we half in the benefit lapping that of most last will optimization are course, year. program. year, saw And – plan that of we QX And

and good things our anticipate that a full compression raised compares a forma in than end forecast, maintained XX% point to feel will margin QX overall pro I do margin We of QX. of investments our in are as guidance of to in and we XXXX. all XX.X%. But the is as low greater we result that of the this, to margin XX.X% a continuing EBITDA stand. that note where the which reference, of we make be about XXXX year would the But

So, very strong overall. margins

Great. Thank you.

Greg. Thank you,

Please Doug Arthur from Research. comes go ahead. with question Huber next Your

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you. Thank Great. Okay.

Jeff ahead. comes next Your question go from Meuler Baird. Please with

Yes. Good morning. Thank you.

digit you organic the said quarter, are like mid-single in X-year the feel year. this And calculate range. think confident I you at for I Linda, you X.X% As CAGR, constant next currency

us client remarks. renewals categories adoption innovation I it to contract the understand goodness bridge and hear that help as in of and that acceleration? So, a relates prepared lot your

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your about on prepared Thank a approach remarks approaching in at you about can in there more said as are you. You target. this that valuation, are you fast leverage feel leaning talking think the capital. essentially that, broadly more And about Board the repurchase on does or you deploying M&A? you How

might we we clients growth in the Sports really clients would Yes. question, that as and spend seeing we that Thanks that in return, you world. what the David by the you Jeff. are seeing the just they revenue regard were impact also of in about where a my would our would quite of referenced around point that the are supply see back to the a I, showing are I in Clearly space. basis remarks, fully prepared revenue kind relevance would for because COVID, what our out of aren’t response kind growth. And how have example but in it’s some with pre-COVID. think whole – is then way the I space And did and things lot outcome first referenced to situation the of it that year-over-year we growth. expected answered your not hoped things then are we be. with in or we on the pleased seeing that near-term too questions, also questions, national one as chain and good as digital-first bear ran the have And our growth we seeing are strong to

accelerated you some the a there certainly growth as solid our I strong optimization exited as we And basis are a in in seeing We of would Jeff, were our international On markets also U.S. it reported growth, plan. part and are we remind that very that businesses just seeing well.

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we us the of what combination have perspective. feel those the net that regards end With from to range, really approaching debt. medium-term at guided caused a quarter revenue of as X.XXx outlook we having a about leverage, all good high it’s to our So, the ended of are

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you Thank very much.

you. Thank

next Markets. question Sabadra comes Capital ahead. RBC Your with Please go from Ashish

year-end? product Lake? you. Is track filling Ashish. Maybe could by the John for you on that touch on still the the migration built is in to Thank complete pipeline Data we Media This Lake on

don’t you why one? that take Karthik,

The platform Yes. is for entire operational. that. Thanks

in the on the of have all new been have All out, called platform. we QX built integrations that new even

and very about excited the are we the speed. that’s leverage So, efficiency the us given

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you. Thank Great.

question go And your Securities. Please with Matthew from Truist comes ahead. next Thornton

am that helpful, side delivery curious the though, a I ones, the could. think just when Hi. next you Two your or to panel around worst it that big process, David, And this year? XQ and – I how of build extremely up Maybe so rallies Good year? very next a hope that. back-and-forth ONE we think of you – morning if everybody. that will Nielsen around throughout about I or deliver lot or lot pushback. I so that quick Is data think the quick goes. year, obviously, key the And with is appreciate use there of increased everyone case this process a disclosures there stakeholders be is by iterative how a feedback, is a

versus sell medium-term if Thanks of and side split kind side the where what we when think outlook? plays your could just thoughts that to as and kind am is everyone. And you of then I about remind that revenue your of you So, secondly, us buy curious you how the that what revenue envision going do of out to control process. successful currently kind kind you are split, with

Great.

today, we course, engaging publishers clients affects with advertisers So, it and be networks agencies, of clear, are everybody. to there are digital and platforms, because

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So, that’s part one.

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players, audio I Another XX% local the from video. was and guess

side. add the So, to the quarters side from coming supply publisher would up about that or revenue three of the

for people currency and to the clear, To I be think that’s on. transact this but system. decide advertisers that they remember is want the in revenue, the to leverage However, that’s not what important

have done. use. press be system now put some what measurement what But people You use. That releases have seen is measurement out can really matters they chooses to that you new system that can buyer got the

in And that serves say would they advertisers are measurement. I purposes. the industry currency need. gives as company our the them the adding the enormous because focused to they value best who the have is are best economics on their quite honestly, our and that So, an role currency the focus demanding ones with agencies the a answer And best

Thanks work So, for both we an basis. have on question, insightful. the to continue equal to with Very sides Matt.

Kenny turn for that time will over all the questions. This today’s is I to have call remarks. for the David back we closing

that you I Listen, our answered and have your I transparent doing confidence are I morning. of all you to enthusiasm of hopefully I and joining want to team for and the in that Karthik the you as our possible. as is really at Nielsen. thank also goal see questions today. hope hear us Linda, And rest all what here I this be hope we

are very excited. We

We are external distracted by getting noise. not

delivering believe and for we market, our to product industry focused as our that are deliver to and you the totally We clients, constantly for continue the for we on shareholders. best will the

you So, quarter. thank you. See next

conference today’s call. concludes This

may You now disconnect.