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TEGNA Inc. (TGNA)
:TGNA
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Earnings Data
Report Date
Mar 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.18Last Year’s EPS
0.43Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 0.90%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Neutral
The call presented a balanced outlook, with strong third-quarter revenue growth primarily driven by political advertising and successful cost reduction initiatives. New leadership is focused on leveraging technology and improving execution. However, challenges remain with declining subscription revenue and softness in key advertising categories.Company Guidance
During the TEGNA Q3 2024 earnings call, the company provided guidance for both the full year and the fourth quarter. Julie Heskett, the CFO, reported a 13% year-over-year increase in total company revenue for the third quarter, reaching $807 million, which exceeded their guidance of 9% to 12% growth. The growth was primarily driven by political advertising and an uptick in advertising and marketing services revenue. For Q4, TEGNA expects GAAP revenue to rise by 19% to 21% year-over-year, largely due to strong political advertising. Total non-GAAP operating expenses are projected to increase by 1% to 3% compared to Q4 2023, mainly due to growth in programming and Premion costs, though partially offset by core cost reduction initiatives. The company is also on track to achieve annualized savings between $90 million and $100 million by the end of 2025, with $50 million expected by the end of 2024. TEGNA reaffirmed its full-year 2024 guidance and adjusted free cash flow guidance of $900 million to $1.1 billion for 2024 and 2025 combined. Additionally, the effective tax rate for 2024 has been adjusted to 22% to 23%, due to tax credits from the Inflation Reduction Act of 2022.Revenue Growth
Total company revenue for the third quarter increased 13% year-over-year to $807 million, exceeding guidance of 9% to 12% growth.
Political Advertising Success
Delivered record political revenue in the third quarter with year-to-date political advertising reaching approximately $375 million, nearly matching 2020 levels despite fewer competitive races.
Cost Reduction Initiatives
Achieved a 2% reduction in expenses year-over-year in the third quarter, with $50 million in annualized core business savings anticipated by the end of 2024, and a target of $90 million to $100 million by 2025.
Positive Impact from Leadership
New CEO Mike Steib has energized the team with a focus on execution and leveraging technology to improve efficiency and product quality.
Premion Local Growth
Premion local advertising was up double digits in the third quarter and is expected to return to overall growth in the fourth quarter.
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TGNA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TGNA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $17.81 | $19.19 | +7.75% |
| Aug 07, 2024 | $14.29 | $14.06 | -1.61% |
| May 08, 2024 | $14.29 | $14.32 | +0.21% |
| Feb 29, 2024 | $13.09 | $13.56 | +3.59% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does TEGNA Inc. (TGNA) report earnings?
TEGNA Inc. (TGNA) is schdueled to report earning on Mar 03, 2025, TBA Not Confirmed.
What is TEGNA Inc. (TGNA) earnings time?
TEGNA Inc. (TGNA) earnings time is at Mar 03, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TGNA EPS forecast?
TGNA EPS forecast for the fiscal quarter 2024 (Q4) is 1.18.
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