Quarterly ResultApr 28, 2026, 10:24 AM
WPP Q1 LFL Revenue Less Pass-Through Costs -6.7%; Reiterates FY Guidance
AI Summary
WPP plc reported Q1 2026 revenue of £3,030m, down 4.0% like-for-like (LFL), and revenue less pass-through costs of £2,260m, down 6.7% LFL. Despite the declines, performance was in line with expectations, and the company reiterated its full-year 2026 guidance for LFL revenue less pass-through costs to decline in the mid to high-single digits in the first half with an improving trajectory in the second half, and a headline operating profit margin of 12% to 13%. WPP also highlighted continued new business momentum, strategic partnerships with Google and Adobe, and key management appointments to support its Elevate28 strategy.
Key Highlights
- WPP Q1 2026 revenue less pass-through costs was £2,260m, down 6.7% LFL.
- Q1 2026 revenue was £3,030m, a 4.0% LFL decline.
- Reiterated FY26 LFL revenue less pass-through costs to decline mid-to-high single digits in H1.
- Reiterated FY26 headline operating profit margin of 12% to 13%.
- Issued US$600m (or €519m) of 6.5% bonds in March 2026.
- North America LFL revenue less pass-through costs declined 7.8%.
- Appointed Mark Taylor as Chief People Officer and Anne-Isabelle Choueiri as Chief Transformation Officer.