Q1'23 net revenue of $1.02 billion, consistent with the prior-year period as reported, but increased 4% in constant currency, compared to Q1'22. Organic, constant-currency net revenue decreased by 1%, compared to Q1'22.
Q1'23 net earnings of zero.
Q1'23 Adjusted EBITDA(1) of $187 million decreased 26% as reported, or 24% in constant currency, compared to Q1'22.
Q1'23 Revenue and Adjusted EBITDA negatively impacted by $54 million due to timing of resolution of previously executed take-or-pay contracts; amount has been paid and is expected to be recognized in Q2'23.
Completed acquisition of Metrics Contract Services in October 2022 for $475 million, excluding adjustments.
Updated FY'23 financial guidance projects net revenue of $4,625 million to $4,875 million and Adjusted EBITDA of $1,220 million to $1,300 million.
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