Omnicom (OMC) official guidance

Quarterly depreciation and amortization levels have been relatively consistent throughout the year, and we would expect Q4 amounts to be similar.

We are extremely pleased with the progress in bringing Interpublic and Omnicom together. We are realizing the financial benefits of the combination and are on track to deliver $900 million in cost reduction synergies in 2026.

We also, as we had indicated, expect to deliver 75%-85% of that to the bottom line as we go through the year, and we're certainly on pace with where we expected to be when we started out the year.

Quarterly depreciation and amortization levels have been relatively consistent throughout the year, and we would expect Q4 amounts to be similar.

For Q4 2026, we estimate our rate to be approximately 26%.

Assuming recent FX rates stay the same, we estimate FX will be slightly negative for Q4 and bringing the full year to a positive of approximately half of 1%.

Assuming recent FX rates stay the same, we estimate FX will be slightly negative for Q4 and bringing the full year to a positive of approximately half of 1%.

Net interest expense is expected to increase to just under $100 million in Q4 2026, from the Q4 2025 actual amount of $53.2 million.

Given the strong results year to date, we now estimate that full year 2026 organic core revenue growth will be approximately 5%.

Experiential and other growth was strong double digit in the quarter, again driven by experiential growth related to the FIFA World Cup. However, we do not expect growth in this discipline in Q4.

We plan to repurchase additional shares during Q4 2026, and by April 2027, we plan to complete the $5 billion share repurchase program announced in February of 2026.

Depreciation expense in the quarter was $49 million, and amortization expense was $118 million. Both increased year-over-year, primarily due to the Interpublic acquisition. For both, we estimate that amounts in Q3 and Q4 of 2026 will approximate Q2 actuals.

We also continue to be on track to successfully achieve the initiatives we communicated on our prior calls, including $900 million in 2026 cost reduction synergies and $1.5 billion by mid-2028.

Depreciation expense in the quarter was $49 million, and amortization expense was $118 million. Both increased year-over-year, primarily due to the Interpublic acquisition. For both, we estimate that amounts in Q3 and Q4 of 2026 will approximate Q2 actuals.

We expect to complete the remaining dispositions in Q3 and Q4 of 2026, and we estimate the revenue related to those businesses will approximate $300 million in Q3 and $225 million in Q4, with EBITDA margins of approximately 10%.

In 2026, we estimate our annual tax rate to also be 26.0%.

On the EPS front, Steve, we certainly said double digit, and I think it's safe to say, for the first six months, what we expect for the full year is certainly high teens. Greater than 15%, I think for sure, is where we expect to be.

Assuming recent FX rates stay the same, we estimate FX will decrease our reported revenue for Q3 by 1% and be flat for Q4, resulting in an expected benefit for the year of approximately 1%.

The estimated drivers of this are higher gross interest expense of approximately $230 million, partially offset by higher gross interest income of $30 million.

The estimated drivers of this are higher gross interest expense of approximately $230 million, partially offset by higher gross interest income of $30 million.