S4 Capital plc Reports Third Quarter Trading Update and Revised 2026 Outlook

S4 Capital reported third-quarter net revenue of £156.3 million, down 6.4% year over year on a reported basis and 7.3% like-for-like; nine-month revenue was £464.3 million, down 6.2% and 5.6%, respectively. The company revised its 2026 outlook to expect like-for-like revenue to decline by a high-single-digit percentage, marginally below prior expectations, while maintaining operational EBITDA guidance at the £85 million analyst consensus. It expects the operational EBITDA margin to rise by at least 160 basis points to 13.7%. Net debt was £76.0 million, and S4 Capital repurchased a further €50.9 million of Term Loan B, reducing the outstanding balance to €198.8 million.