Marcum Acquisition Success
The Marcum acquisition has surpassed initial expectations, with integration on or ahead of schedule in most areas, and opportunities for accelerated growth have been identified.
Revenue and Earnings Growth
Third quarter revenue was $694 million, with year-to-date revenue at $2.2 billion, representing a 58% and 64% increase respectively. Adjusted EBITDA increased to $120 million and stands at $476 million year-to-date.
Improved Market Conditions
The core accounting and tax business delivered organic revenue growth, and project-based advisory businesses showed improved growth compared to the first half of the year.
Successful Client Retention
Client and staff retention rates have been favorable through the transition, aligning with expectations and providing a strong foundation for future growth.
Synergy Realization
Increased synergy goal from the acquisition to $50 million or more, with $35 million expected to be realized in 2025.