Half Year 2026 WPP PLC Earnings Call Transcript

Aug 6, 2026 / 08:00 AM GMT

Release Date Price: MXN74.1

Transcript

Key Points

Positve

WPP PLC (WPP) delivered H1 2026 results in line with guidance, with like-for-like net sales down 4.7%, showing a clear sequential improvement from Q1 (-6.7%) to Q2 (-2.8%).
The company achieved a strong new business performance, ranking number one in JP Morgan's net new business rankings for H1 2026, with landmark wins including Estee Lauder, Jaguar Land Rover, and Airbnb.
Client retention rates improved in H1 2026, with key renewals including Huawei, Tesco, and L'Oreal, supported by a new holistic client success program.
WPP PLC (WPP) is making significant strategic progress with the launch of WPP Enterprise Solutions and a new Commerce Practice, positioning the company in high-growth markets.
The company completed over 15 non-core asset disposals in H1, generating over 200 million pounds in sales proceeds, strengthening the balance sheet and financial flexibility.
WPP PLC (WPP) deepened strategic technology partnerships with Google, Adobe, Meta, AWS, and Microsoft, integrating advanced AI capabilities into WPP Open to enhance its competitive offering.
The company reported a return to growth in China (up 2.6% in H1) and healthcare and auto sectors returned to growth in Q2, indicating stabilization in key areas.

Negative

WPP PLC (WPP) continues to face a challenging top-line environment, with H1 like-for-like revenue less pass-through costs declining 4.7% due to the impact of historical client losses.
The company expects the drag from net new business to persist throughout 2026, with gross client losses estimated at the top end of the 500-600 basis point range.
Headline diluted EPS fell 24.5% year-on-year to 15.1p, impacted by a normalized tax rate and lower profits.
WPP PLC (WPP) anticipates a significant step-up in investment in growth drivers and incentive rebuild in H2, leading to a potential 200 basis point decline in second-half margins year-on-year.
The Middle East remains a volatile region, with revenue down around 10% in H1, and ongoing geopolitical uncertainty poses a risk to the outlook.
The company continues to see negative trends in CPG (down 6% in Q2) and technology clients (down 8.9% in Q2), with high polarization in spend patterns across sectors.
WPP PLC (WPP) expects leverage metrics to remain elevated in 2026, with the path to reduction dependent on improving profitability and continued asset disposals.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WPP.L - WPP PLC
Half Year 2026 WPP PLC Earnings Call
Aug 06, 2026 / 08:00AM GMT

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Presentation
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