NLSN - Earnings call transcript Q1 2019

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning. My name is Carol, and I will be your operator today. At this time, I would like to welcome everyone to the Q1 2019 Nielsen Holdings Earnings Conference Call. [Operator Instructions]. At this time, I would like to turn the call over to Sara Gubins, Senior Vice President, Investor Relations.

Sara Gubins

morning, good and Carol, everyone. Thanks, joining Thank quarter discuss first to performance. you for financial Nielsen's us I'm CEO, with here our Dave our Anderson. CFO, David Kenny and is section presentation under website. slide that use this A we'll the our of call Events Investor Relations on available

like those begin, all remind and based that about and Nielsen's I'd our may contain on of questions are expectations. to outlook your Before today that Nielsen's forward-looking remarks to we you responses statements, current including prospects

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

David Kenny

morning. Good Sara. Thank you,

an to for particularly quarter then the Connect. our with the come both can Media it first products some around and our review Nielsen color our me provide a lead time. management's all, and said my back is independent entire a Let Media comment as senior segment the of and to public X and active strategy over outcomes; process, we we on the I'll quarter to tell at ongoing start of sell update Then from we separate could second who a and Dave me of continue and of and Global high-level most expectations lot potential the in This Nielsen could operate Connect which turn could remainder taking it is the give brief first of X company. let results, Global review, we've segment the could But as and or time an you on strategic XXXX. before, company, progress,

and I progress said, over since This That to as relative say we quickly to We than important step working building expectations. am time, I same in potential. results, which means to At first strategic our X deliver that the manner a the the with management pleased Nielsen's our review video. complete last better to to assure XXXX operations. did our with significant in our which our improving have the I'm as I we're guidance, our on can on that we're also possible. made want track our focusing have come on as weeks quarter as are growth Board last parallel, dissatisfied you rate is timely in in an credibility. the

over the stronger a product assets, client a a better for we time. talent have unparalleled serve, industry-leading foundation relationships, have the have we role industry critical creates and We footprint. we in strong and That growth global

accelerate to Dave? our an return I'll and back with the review Let end velocity. tangible at steps we're then turn taking quarter the to to me on the the Dave now update call

David Anderson

some walk #X, starting cover like that and through going I'd thank morning, you I'm Thanks, David, topics and everyone, to good to the you walk for this in -- with takeaways. key going this participating you morning's I'm the to and morning briefly call. Slide key through of

the effective a with our pleased of improvement quarter obviously revenue is we're the said, adjusted The EPS rate both our ahead and expectations. were worldwide. Nielsen last compared rate to the a an results commitment of bit. the that of margin quarter. David range $X.XX tax for the leaders product well year-over-year expected was for adjusted within year-over-year our came year. higher despite in a for business initiatives. And flow as free Both Overall, better EBITDA talk first First, and as more productivity as revenue And period our the about reflect results same in represented on and a improvement associates our little I'll cash basis.

David reiterating provide the some XXXX. second I'm through I guidance for quarter our more in as as you briefly appreciation we've the delivering increase going operational hats also, we're on them, said and color mentioned, we're to our that the and for to finally, well Our seeing for as second results all rigor focused quarter. And before, fronts. them financial the we're across after off go our and expectations the to And organization. half on the as

but in additional quarter. impact with of to company flat. in on and if X take items expectations the you The organic revenue currency the basis, an quarter media the connect quarter, organic of saw strength decreased We X.X%. a look increased constant for at grew on highlights. some So the basis. go that, a both first and onetime first constant exclude actually Revenue compares in This roughly let's X.X% X.X% year-ago our Slide revenue currency, the to

was our people performance $XXX investments making EBITDA the currency. basis in that X X.X% the Margins first we're up ahead constant up margins Adjusted of reflect businesses. productivity, on a currency EBITDA in our positive by both million, basis, on offset and and again, constant points adjusted partially quarter, XX.X%, expectations. were For

I compared full year. was is XX% as It's difference first talk the more higher to the and contingencies discrete talk about explanation. for tax the quarter little I'm of EPS XX% that quarter expected The provided higher XX%, -- related was above to items tax for full to the guide several XX% we The the about driven simple as audit. of lower quarter in tax tax rate well XX%. by explained this amortization, the a $X.XX we XX% And in Adjusted first fairly when year. was going effective We had and first in forecast year, outlook the of rate the effective XXXX. in depreciation for also tax a rest the bit quarter XXXX rate and the original quarter $X.XX, EBITDA. the of was to

in year, XX% about XXXX. quarter rate of of first use Free the quarter year, retail quarter compared flow And the in a looking also million in still the the and million confidence flow in a was incentive impacted $X.XX. results lower So $XXX cash strengthen use cash our from to last quarter, of in free the at lower first XXXX benefited to the it's -- to I'd categories We're know, outlook. certainly around enhancing segment by add early now and a $XXX with these measurement relative the while and based payments plan/optimize The Connect Overall, value measurement as to managing now in their also Media the of on designed both clients to to going and to spend platforms to Connect. like couple core by predict/activate our through two the our we've going and you build XXXX decision-making. are minutes segments, just around and fully organized of payouts. each segments, Media

digital, X.X% as constant Slide $XXX but quarter on was up start on Revenue local also up If revenue with first been basis. X.X% million, the TV X.X% year-over-year. #X. currency for a up slightly media currency. let's Media for was prior TV, would have we M&A underlying measurement reflected So Audience effect, was brand impact of growth TV the national adjust the up strength year-over-year and constant year-over-year. in [indiscernible] in year double-digit This expected,

contract. points. We the million, and Gracenote was X.X% items Revenue strong Media, continued currency, from constant growth XXX markets currency. and was in most ROI basis saw which M&A a our see, a currency. service our In revenue revenue, points from was driven constant Revenue was revenue you offset EBITDA adjusted Slide XX%, in and negligible X.X% of Media's in decline practice $XXX can in quarter X, retail were improved constant down influencing it Adjusted X.X% innovation about were by capabilities. reflecting down revenue our $XXX predict to X.X% activate impact was was other The drag related activate was up the performance by plan/optimize were businesses. constant core The $XXX million, Plan Connect, basis if by was flat on EBITDA down constant within down For partially optimize currency, Developed constant quarter. measure timing and and solid customer and predict measurement $XXX trends. currency. investments in growth and was telecommunications up These X.X% in margins also X.X% offset by again, items, you in XX constant but insights in The to U.S. first strategic important adjust currency. a factor ago investments attribution down drag M&A in million, a our in for was The mostly currency. and onetime the year-over-year. million, productivity. year pressure also

the saw markets the was U.S. declined decline FYI, first revenue Europe. continued quarter. in quarter improvement in we in down saw the the in in the revenue first Emerging U.S., of also in we Just rate X.X% while an and stability

margins China, against offset had adjusted year, first constant in the And revenue were quarter, X declines XX.X%, Connect of a we as year-over-year partly last productivity initiatives. by currency. constant adjusted for the improvement expect Regarding year. quarter comp $XX EBITDA basis during soft flat were the EBITDA as of a we the was currency the performance of million, tough result but points in course up segment

now at for outlook look go the XXXX. Let's

here with we've You slide before. to the not you this takeaway is here, through of consistent with summary can covered details see any go and what

revenue reference just so key through metrics, go total you trajectory the to approximately flat then probably can X.X%, to be an And improved on currency company good it's from X. Slide constant This includes to XXXX. which

flat adjusted by as earnings of partially reflecting depreciation higher expense and be in $X.XX, well XX% interest EBITDA We expected $X.XX XXXX or continue expense. to midpoint. will as range margin Adjusted of XX% the share roughly amortization to to compared driven significant business. EBITDA the the expect offset per be productivity, are at Adjusted margin in higher year-over-year to by to reinvestment

expect in payments include cash million part be and of midpoint, XXXX. the XXXX by cash And continue and incentive in lower compensation last the key Lastly, roughly quarter, with flat million, be taxes. to drivers retailer lower at it'd interests discussed we $XXX offset flow cash in also, to and range payouts $XXX we higher to free as

slide. commentary XXXX will financial key we in Now appendix a the our provide to inputs on of metrics the additional

I but XX, Slide won't is out the segment last what by revenue spend to this, XXXX. time we've Turning outlook with with we've on shared for quarter. laid This here, consistent you

let's that, XX. go with So Slide to

about talk the we of me of for the timing the anticipate XXXX. in terms what remainder Let of outlook

We second make for half expect the flat quarter in in more a to we first difficult continue XXXX. comparison we revenue, to constant half. half in the some be currency. Again, the be first the half expect first onetime of second In up revenue slightly had than items that to to of year-over-year stronger XXXX

XXXX. we this a that initiatives. countries to of will translate For with provide book to of to four, occurs, provide XX% an the I'd reinvestment we through below initiatives in paced during free to expect quarter support be We'll our anticipate continue anticipate quarter, second various rate for note down in that normalized continue would as margins of two expect the growth will third guidance, also quarters. effective second finally, XX% be audits the XX% the to second quarters benefit tax XX% also we'll year-over-year. roughly the see through to for conclusion to slightly and tax be which the the to well we which flat range rate, flow you be original flat. but we cash tax as it If to And productivity

improvement you, focus it. organizational with lot cash in plan a plan. an discussed we we of with flow our have summary, we're As underway aggressive for confident In around

look on to it to we progress. We and our a you and on comments our for going with to continued strong deliver fronts I'm David updating some company have commitment to back all of his turn outlook. the on And that, forward

David Kenny

Dave. you, Thank

I we're As also pleased I XXXX the quarter first our I said I'm that in our but into as trajectory a before, guidance our increased would our opportunity improve truly confidence direction. of product-driven, also progress, have technology-enabled growth our early transform validation with over gave working Toward to well say us some Nielsen organization. time. product as we that believe hard to end,

in do is I today, market. our what is you how product of want some specific So to give received the being examples

with start Nielsen me Let Global Media.

to Our spend metrics mission the the then ecosystem, leverage we or media that tools truth here our metrics for be entire monetize clients optimize one across those their media plan our which is media need And to provide offerings. their to the clients. media and creates

talk to being audience measurement demanded it's broaden how First, a of with market linear paying continues audience video view. about adoption let across give and digital is me This our our and and by off to measurement clients. Nielsen total both

also way Nielsen across data. advanced Viacom to data. the the with buy we and some advertising metrics clients let positive specific CFlight across in industry We're them TV One, to said, same we our evolution during to to which is with underpinned currency upfront work progress. CFlight, by our great planning measurements examples. concept give This for working I and also their me and platforms. of the local on news offers testing on work getting We're sell to This NBCU As continue are from the an industry feedback negotiations. advancements use adoption on validating additional and closely local and is XXXX we're expand continuing

audience NBCUniversal that examples. Towards connected end, you I video and newer solution, is includes We're first innovative new monetize give the around we long-term means clients to This announced with agreement have local that that and also for some solutions major digital some would increasingly which time, TV. ratings others. as subscription audiences. TV measurement, working such a included Univision for media say and out-of-home that national the Roku, many digital we that let opportunity deliver on-demand. players help of all Hulu, total their the our me also becoming specific and Again, with measurement

front, Nielsen-based of delivery gaps their or to minutes shows we better new Netflix. audience continue to This lastly, the TV enable which the And advertisers Netflix That to that fill are On spent YouTube programming guarantees, data the also reruns. a had a terrific And XX% TV is our of use framework. is on measure a YouTube on measure visit media traditional offering in that investing also campaigns. critical firsthand. in first our own are total audience input which clients the our through media, their now In some chance that opportunity. to over services, I we to have international streaming we heard quarter, global of non-original markets and

already to receive and in This additional accreditation. with one Our and That the global and the audiences the our reliable efforts few MRC's to reallocating Media States, product consolidate approximately television Council. the audience we're level efforts to syndicated talent key continue account United There, and international more a U.S. first service resources Mexico and confidence. drive in media markets platforms for mission to around They XX% television we world be effective the in is leverage a outside which weeks by accredited our are commercial the This Media measurement was efficiency is outside and Today, notable to create our industry leverage to and solutions only or growth. in Rating presence non-U.S. provides globally worldwide. XX Mexico. transact Nielsen Nielsen is We of way. had revenues. the of measurements the achievement in and said, than Global media the last really an truth and

growth. portfolio, provide many part demand digital manage Remember Let tremendous extensive the the Global offerings of talk that optimize market opportunity part a overall about and capabilities me which have our of of these with drive the the help now to are digital Media. Nielsen and of we complex landscape, plan to

with their services, buys the new Our loop together which more accountability tools sales, the finally, the radio digital marketer identity unduplicated marketer demonstrate which large of platform plan/optimize how leads with CMO their This to is their to media we're for you me about Media, also and part close dollars. of measurement. some really creates examples. let continued plan. companies for validation of which includes a Global bring attribution see proud help brand the digital importantly, several In transparency return of clients. and incredibly approach teams And business positive to to total is people-based with addressable cloud-based contract target optimize enhance up on sales plan ad of will To their marketing quantifiable we consumers, feedback and benefits audience analytic the measurement audio help from specific expanded measurement efficient example, benefits use platform. Nielsen of deeper on ad This platform Entercom for enables advertising advertisers. of better audio works. Entercom. of client's and getting another the a reach our of to them a and Nielsen deliver and renewed the much the we're Nielsen's be This the continue investment a understanding capability investment value overall each to One, to both and audience, digital planning the This our holding just market Again, sum Nielsen's give the make with working the our offerings. Nielsen's to of them we agency one Nielsen large on just their mix

have the accelerated the in outside States accelerated services. also We growth United optimize the and plan and growth opportunity to of drive

clients help accelerate to on more are for growth to that both road product focused map the bring our for Nielsen. clients and solutions We will

ecosystem. within we and now Nielsen to where manufacturers fast-moving consumer Connect, connect retailers the Let goods me turn Global

opportunity in key revenue profit. Here, status. I'm Again, our differentiator in our not Connect competitive the restore and QX, We're to we is turnaround again platform that a U.S. Nielsen do. terms story. a but It's to drive happy ability big that position, its talked a and our growth at with growth our strengthen progress And of can of progress making clear all on pleased what I'm Dave platform growth. with part that have the improve about

using of is components clients working We have we're which another growing end-to-end large already who system. system, and also the XXX of driving decision-making the are faster well with deployment and

have We end-to-end retailers. range a Connect manufacturers you deployments let in U.S. for in span a and broad the pipeline FMCG the Nielsen strong they of segment. specific Connect committed of give client examples me Again, and some

of in in strength business, all, and First manufacturers. both saw bedrock measurement, is Connect the of with we which the first quarter global relative our retailers

Let me manufacturers. increased a the the talk we between retailers about and which and the focus key collaboration remain retailers, are driving

Some new Walmart States, up United examples. open the to mid-tier and of Sam's whole In roster small with work continue program our this a clients. and collaboration to

include which expand Big C, is suites multi-year Europe, services. Southeast the XX% inked online loyalty China we big a our access more during expect We for Italy have we the major which agreement clients and Thailand focus. a also are codeveloped Netherlands and have content roster launch improve with deal and year programs In We a JD.com, also we most enhancement. to to is trajectory up gives in those our just as China's adding with retailer new those XXX and signed recently to our we price to more than Asia. measurement with do Aldi, to promotion collaboration analytics a of Nielsen. In relationship more in us expanded coverage than China, retail and renewed analytic

provide Connect, also map. client manufacturer recent our On validation product Nielsen renewals the we that had for market some side road Global of

a this Nielsen confidence renewed underpinned we [indiscernible] the the largely direction of skincare example, For brand platform. Connect was their in by and global

more and team New data with their also and with data Johnson technically together business more that We in doing way our we've Consumer. so science their week, uncover contract renewed York, closely hackathon the our just of multi-year working can Johnson insights should a J&J, I our example global & science note also got all and an for clients. team with it's we're we here new

offer Our both a major the analytics to key and ability in measurement all differentiator. world around remains markets the

optimize. activate real to go comments growth I here and said the and plan Let largely predict side. driver My what me a should This about echo over be will time.

measurement driving and decision-making promotion machine to optimize drive opportunity We growth leverage move aligned learning-based clients. analytic several chain we're modern as We're a from for to seeing greater we from areas, management, solutions demands point assortment, supply key solutions to have category our data to including an open services single faster our in good on analytics and these a platform architecture.

Mars analytics X our & assortment global our to traffic global helped who're progress and are Towards and Smart regional that them. optimization deals a and retailer helping with regional analytics and assortment retailer, we and tobacco Final, with by partnership end, at space at signed recently a discount value notable strengthening Precinct, drive promotion additional giant a on the price making also

collaborate more Our data strategy. is also work focused them helping to with with their through vendors a closely Freds

So Global functionality value Connect, the to reactions to local platform. and We're up global on more the sum our for road let our strengthened we're Nielsen the continuing and relationships the We're relationships. both of proposition to our positive map have connect early adding getting grow and also retailer we manufacturer. me

of which Our is about is connect, XX% U.S. stabilizing. business, total

platform gross Moving look beyond in acceleration journey in on investment to the the of cloud-based we offset by Again, in on me a this We're single largely Connect. operations, me our so Media is both align be and track tangible our client basis the up productivity. examples XXXX XX gross also over architecture shipped. internally to in to automation now of you control and on live the to let talk recognition image These made a through give with We're a markets efficiency deliver our QX. our initiatives. are data XXX,XXX our productivity productivity. did a deploying about with some field and of added quality on fully points XX digital major way which from unique significant operational XXX data collection. live free let this XX going X side, the commit our investments We represents driving data capital, countries to now growth in super Connect are Over with hubs huge delivering And We collection markets lot methodology. of our the time machine quality e-collection towers, are line. deliverable original and to benefit from over learning acceleration

review, No review. strategic matter look your strategic you our and to hard the company So for your in Nielsen we work maximize being taking the teams done strategy of deliver let me working outcome close get value These questions. and right lot efforts term Across long steps the are our our on a best board, I plan. and the parallel execute position on growth the shareholders. XXXX hard the are forward are also our to to for updating on of to progress. our to

turn to know Let Sara me back it Q&A. manage to Sara?

Sara Gubins

the ready we're to for questions. line Carol, up David. Thanks, open

Operator

[Operator Instructions].

Our Andrew Steinerman first question from this from JPMorgan. morning comes

Andrew Steinerman

CPG discussing X, is you Connect, end the market U.S. continued but Nielsen Slide When pressures cited which improving.

get Connect U.S. you the you I the U.S. of Nielsen say you revenues when were first when how improving mean One, you did market quarter, a end So X want to mean did do improving, did And said improving? CPG or improving? is in Nielsen U.S. sense revenues Connect quantitatively, things.

David Anderson

you. Thank

Nielsen improving. that is revenues meant I what are specifically, So

decline. -- was very as a good but mentioned had our over expect with last there, us. continued I in see year we developed, bright performance for is at very rest year, Connect, in of see with that the that. we may very well And that the of the we may developed, the on this measurement So have team performance year. pleased experienced guided the we we'll think total executing the is as mentioned, had have had and obviously which that spot relatively I for the U.S. performance. I business decline than as also less We're we pleased very, We're we in beginning we'll total

very that the response both what we of and positive on increasingly we by seeing and we're focus the the offering very U.S., we're to where number So side, pleased pleased but did predict a very that by accounts measurement side. have also activate in the on seeing the

Operator

question comes Jeff Meuler Baird. next Our from from

Jeffrey Meuler

In the clients the end-to-end any there, live pipeline, And today? give progress does the more long implementation the any us guess some in detail, sounds there what the win the end-to-end Roughly system? or just you terms but targets, there? are I do on take of on for could it the to is have was typically signed on how connect of then, it just the like clients you maps size system, more full end-to-end connect how road system pipeline, a many client the

David Kenny

Yes.

up a use before. system. couple how it And one as before. before, So to of opposed back It say, it of I make to standard as would And it get report it to really connect they've they We've just where you pipeline dozens what they willing a to to little would months comes the got that take as the use much to least retrofitting the are at this full got takes system end-to-end people using close I down told I end-to-end management only out to the to bit sure the we've the say migrate on done using to got can that We've roll versus in running. we're making designed inside. system. customizing and a couple XXX, progress component as to XXX were that are are year. clients a

of We're progress. installations the we're this their this, adoption of year. system. working We're folks with do we time every on ready making in So a progress for the getting standard making lot

David Anderson

increasing feedback I Connect to adoption one but have our clients respect the and testimonials referenced very really are But add got Nielsen those in the I We've from system. summary the you thing penetration maybe some may of to tremendous it comments, from with think of been think your usage and that has positive.

and has very seeing of David of So the -- what the said this, side qualitative and also to which we're in there positive. numbers, is been what in terms addition

Operator

Kaplan question next from Toni from Our comes Stanley. Morgan

Toni Kaplan

I pricing the you national really, for talk both in was within specifically, could for also but media hoping local? segments environment about well as as

David Kenny

couple Yes, think we their the I renewals, focused certainly costs, -- price that mentioned I and on media the changes discussions. going having owners right to on all where which I be. of course there were a we're are them expected think in of

also that say sure that the services again, we the and the have negotiations, And the and our in have digital value think straightforward using clients. we are in increased deals I think of renewals, of their we're to in the to it's able becoming So more closings on of clients they're get going we're always but right that in efficient the the being I effective, would place. as reflects discussions make of I how more adjusting more connect show so analytic think the I value strategies making services end, relatively which to side, those more course, closed. and to mix our these turning

Operator

Our Manav comes Patnaik from next question from Barclays.

Manav Patnaik

think today where seen, guess, latest GDPR and your had get see that you how to impact should wanted of remaining going the the just on forward? we business the, impact I I

David Kenny

Yes.

on listen, fully there be on encouraged respectful some by privacy. our to We're retooled float certainly, and GDPR, there we was So and very capabilities compliant.

in which attribution changes. we an what the through got for product is I So think those pipeline seeing And products. improvement we're we expected, our

XXXX we're I aspect privacy to that with. and test them things happening closely things the privacy. other as say think become the happy just California several in U.S. to sure world and there. of GDPR watching which for other Act, I works in January and We're effective make first going is happening Consumer around Privacy the will a continue also also that would clients well, like which are things

we're it be time. this. is affect actually will privacy think I in way managed continue we and positive business a approach Nielsen's that in way for way to can it and the think over continue we quite and differentiated gold to do We're our compliant the in the front getting but understanding be to not to a sure become regulation, make standard of only with

David Anderson

quickly, that some optimize. to built David, add just guidance pressures and think, in in in, I might are media as aware we of continued privacy I clearly most terms our related very plan folks

us to and that's is We've that's to the be going is this David we that be -- with this we've be numbers something it's to you. going in to a So us. for tremendous, And that's provided something going made think, reflected adjustments responses while. said, with that as positive

So plan/optimize year part got for of in of we've as guide the is the that's Media. terms for it our reason full

Operator

Sanford question Our from comes Juenger next Todd from Bernstein.

Todd Juenger

away return a to the which sort market get is in David, don't we from shift a of Nielsen step to could, in I a what increasing you've have and A If career. mix size thoughts that the to I'd could, love been media further and bit started on digital I the to the there mix you think your maybe proportionate digital and role if should of within many the concern your you shift about discussion I'd that linear that chance the the your that gets I love less get of shift business. especially impact toward monetized time. And a consumption investors of to mix on to concern places are concern of that know I'd in love that in all side about increased take linear. how have the advertising. you that with the what thoughts, given over hear if long-term people implications agree or think. digital

David Kenny

digital. at Todd. Nielsen to because has Nielsen got course, our more as in arrived. lot digital. end clients exactly work of needs of a I and lot And I the Well, join since a picking decision months move up I right somewhat into before grow pace was believe was the year thank done different. here few in portfolio It's of are to the last you, past And my There we're the

demand growing So first important I got and measurement. would of independent all, say for holistic measurement continues be a to we've

more having it. platform they're think concern I homework and to of the own is vocal create the being their advertisers to about

like us we've really But would VOD measurement digital I measurement et all side ratings, ratings, help a that, these data also content should to with when we with we've do planning increasingly the Brand feeding in important Gracenote, digital et assets continue say tools like Effect, ACR, got multi-touch with way. also platform growth cetera. got analytics is Digital optimization and with cetera, ad in serve what So see that the ratings, the content subscription and we attribution,

And is of through, measurement look meaningful going So side and a only a this. analytic through. are the both the When our becoming analytics the the is look but and do part market it's tell I clients you we do and I transition This growing Nielsen going from a would at a transition we're it's it's side digital. portfolio. transition, on believe growth seeing can I the at increased an do side digital,

I already responsibility gives to with and actually lead in our us our think currency to a us chance base, installed what the and panels have do industry. our -- we gives role

that good transition, more So a of opens growth. a time, think it's us in but healthy over I transition for it's terms doors

Operator

Matthew Thornton next from comes from Our question SunTrust.

Matthew Thornton

one, Can first the that what the you again you kind this. the kind you'd to year. secondly, would you we be helpful? just that rolling course in little gives see of little I meat just that then a put reversing and a And little on of about about sets a big bit tide Maybe kind data to just bit and Can that turn half in back and some guys China, talked the of if local -- level that missed census whether headwind talk of turn, confidence here expect understand you when have, you of that there? might I the to in apologize the

David Kenny

in data data data local, adding improving both remarks, those. on all, and of sets Nielsen on as first I acquired So sets proprietary we're said we're sets, my more and testing

not do accreditation retain So currency we're This industry that. is on standards independent in MRC. We're the and way. working the beginning an closely yet a to want quality to We move. share with results

real in local. working that in we're they are and Certainly, what through process. So I we're on. progress say signing we're this year, clients, would that evolve as make showing to we also doing expect to

a a we're Univision and I real Raycom, I where believe we've So pipeline going there. lot local Cox, of say said, strong. and There number code including in would around recent renewed of local as is do in I energy is the clients, and the that big Hearst months, the we're cracking

and more I we're China, places, and a grow some in connect would there. In help that's time made because business. there that there real going coverage, improve again to of revenue say, in And more and we're geographically it's I terms weeks, planning go in expanding of both strides a which few to spent measuring we've e-commerce,

data, as much I online of us timely said, gives with JD.com opportunities, an One the services, that and to off-line and weekly analytic us reporting access to price move to to renewal and was more renewal including now those also model. allows promotion launch

is from So I local the product feel got progress. lot of is pipeline I of the of getting up a clients made the we've lot feel think well. quite opportunities number JD we've like team clients right the there, just [indiscernible] the right like judging a got partners, and and executing I the And setting

Operator

question next Goldman from comes George from Sachs. Tong Our

George Tong

elaborate or return of moderate, health currency emerging developed you the internally constant business, say initiatives growth to Connect your overall the continuing And In are top to markets? CPG here? are revenue markets, drive in can you would X just declines your and a the both what overall on positive to end X

David Kenny

Yes.

markets, of end changed for first both I it hasn't think the in and all, continue the the to manufacturers consumer. listen, retailers focus So on I but think value

they're but making means progress. they watching that And so that watching are pricing offering, their they're and

you are say might a of of long I that fastest. long And the tail. smaller in players tail ones and think of clients would there number sort connect, our sort are the mid-sized terms growing is I call of these what seeing small we are the also emerging, what

grew In quarter. the alone during first XX% fact, they in U.S. the

in they say, grow precise, where end Secondly, I they're off analytics to existing base of would terms be our also focused And need markets the we're value collaborating more. analytics. the means that's a XX% clients are in And business seeing more within that lastly, focus QX. more much integrating on and on then did fact that so small

their with common them is data for the set scale. collaborating are of Nielsen common data again, with need the retailers manufacturers, at that that there data, do as that can way and only a is in So do a a to really

So real we're growth there well. seeing as

of the well. would I system as that and said, the connected that world. in as around the growth performance the are up are sort the those So improved operational things as driving, Dave grows pick U.S. should the say

Operator

from Our next Wells Fargo. question Bill Warmington from comes

William Warmington

$XXX consolidation So million a out XXXX about from savings, Day, at the Investor $XXX another and SG&A. the for cost and November laid million $XXX from team plan previous in million management automation

fall about savings that goal, if the chance to reinvested time spent it potential million it's to the feeling $XXX a company, at some it cost Now at you've is how or a for have And to still goal? both a are does likely be the reasonable you reasonable line? the business? Is bottom

David Anderson

there, you bit productivity. comments perspective on So, little just to some Bill, David's give add a let me start,

pleased delivery productivity will, to fall some relative I very the favorability expectations we as we the through, had margin in EBITDA we're revenue reflects on to First of results, of all, focus of mentioned quarter the and productivity and you of that about the first that have. and if on EBITDA the our

thing prior a sight to what number second of is update we're we've are -- that of actual prior the strong and against provided doing in EBITDA got walk to guide the XXXX going an that deliver gross provided real shared the you I confident to The in deliver we that with that line deliver in original prior based -- haven't line really you we really to of the we walk seen, year will But on we tell can what Strong in terms we're numbers. leadership. programs we've what that that. you those sight in that our of line productivity this from

these XXXX now, to against just on the kind broader at is delivering executing But relative numbers. of on updating look real that right to I think we it's longer-term time. forward right and you potential, our focus something the

David Kenny

me I basis invest cases gross in not come with that's the productivity top improving to At What clear growth best just are the is to very invest of always say hesitate add, productivity accountability going and would you, we're opportunities. is points and if we're that same in Let to XXX remind that business and time, confident with growth. to the from I line. we for invest, will going executing.

creating what reinvested. We're So pretty product, sure be invest, would we I really being investments that coverage rigorous do just those understanding or being the we making automatically it's that. are, but opportunities say about as [indiscernible] not they we're to whether client

far our that happy us just transparent it some opportunities opposed sort be I on really reinvestment. really as growth giving at to the more of deal a with improve of And loose I'm chance that's think, will to think these, I the to look rate. terrific So productivity

Operator

next comes Bank. Deutsche Ashish from Sabadra from Our question

Ashish Sabadra

legacy pushback or So the David, And then to if have on cloud-based any my talked question if architecture. you -- provide of legacy was systems. single about acceleration retiring retirement client journey in feedback you can any you about systems? retiring the received also

have does feel the how you long terms of timing? been few for you've transition there months, for a that a in take Now do

David Kenny

Yes.

the So last and helping folks a say certainly, I'm of years it, I a to part, would my final give are yet ready us, transition with to a on completed. got couple you've not experience you data the get full on but who prior

it on not way. things internally to it of right in a on we're I'd and we do able certainly take task. working these to like right, that. make to be velocity, recoding some little working to just So sooner, certainly the cycles some want just And work but

think and therefore, working of things the architecture understand on benefit single in a for a doing to benefit and of having Nielsen hard I of legacy clients the we're on common Secondly, the really scalable more way. retirement systems,

can connect on is partners. other in bring that of One the benefits you side those

and the there that bring in benefit they So one at the now The just from benefits see be that thrilled lot on the operate, And say the able opportunity as immediate. as from use being are to services that with more have modern is systems, them affect to we to partners that more over beyond up first, all now. media, clients become is have which clients part to of similarly in is change. tools lastly, they clients a us move robust system, in those the the to and our the things XX that we're line of connected transition doing our way to And and Nielsen data. some of are gives get this signed I'd legacy front just systems of aggressively digital that work

Operator

comes question Jefferies. Surinder Our Thind from next from

Surinder Thind

you David, to the start I just wanted that call. comments to one touch first the made of base on

but I pleased think indicated might what or with are you maybe perhaps what growth long-term you rate dissatisfied additional potential with? you are results the is on thinking that be business be of that would growth with see comment, you about you or color satisfied XQ guys the the number Can the a rate. some that provide the you

David Kenny

also we market bolder would lot focused look What initiatives I markets rate bigger, those we is be strategic our to growth look where more So in actually that the the relevance. and number is is out the to growing review, a maintain fewer, helping least really than rates get the like doing you the as should now, on to we're in going with right we to order if us all versus I'm what get work at but small the and ones. at that think of end does of our faster I is specifics, it's sort in growth say part are say opportunities at

deeply are and deeply making are that we're in that way we in we're monetized So more embedded help people the get sure embedded metrics the efficient. analytics

strategic can market right. a with deliver. growth organically at review think to from part right it looking we'll come I process certainly the of and our get So certainly what And that's the time, we're well that back at market specific believe share products we as number, a as perspective

Operator

Sara Instructions]. to turn And Gubins our back I'll call [Operator for closing remarks.

Sara Gubins

you today's and joining Carol, on you, all for call. Thank thank us Great.

to to As come Thank the always, we're days questions. follow-up today the you. available and address

Operator

may conference and This disconnect. today's now does conclude you

Nielsen (NLSN) 30 Apr 192019 Q1 Earnings call transcript