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TEGNA Inc. (TGNA - Free Report) is a publicly traded broadcast and digital media company. The company owns 64 television stations and is the largest independent television station group of major network affiliates in the top 25 markets.
TEGNA's strategic decision to spin-off its auto-sales website Cars.com and sell of its job-hunting unit, CareerBuilder, should generate more value for investors than the current stock price of the company. Both broadcast TV and digital platforms are rapidly evaluating. Management has decided to expand its core broadcast TV business.
However, the U.S. broadcast TV industry has long been grappling with declining advertising revenues and global economic volatility. In addition, the broadcast TV industry is categorized as an intensely competitive one. Soft advertising market is also a near-term headwind for the company.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: TEGNA meets Q1 2017 earnings estimate. The company reported adjusted earnings per share of 33 cents which were exactly in line with the Zacks Consensus Estimate. Investors should note that these figures take out stock option expenses.
Revenue: TEGNA reported total revenue of $778.5 million missing the Zacks Consensus Estimate of $800 million.
Key States to Note: In the first quarter of 2017, Media segment generated $160.1 million of adjusted EBITDA, down 20% year over year while the Digital segment generated adjusted EBITDA of $65.6 million, down 15.4% year over year.
Check back later for our full write up on this TEGNA earnings report later!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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TEGNA (TGNA) Q1 Earnings in Line, Revenues Lag
TEGNA Inc. (TGNA - Free Report) is a publicly traded broadcast and digital media company. The company owns 64 television stations and is the largest independent television station group of major network affiliates in the top 25 markets.
TEGNA's strategic decision to spin-off its auto-sales website Cars.com and sell of its job-hunting unit, CareerBuilder, should generate more value for investors than the current stock price of the company. Both broadcast TV and digital platforms are rapidly evaluating. Management has decided to expand its core broadcast TV business.
However, the U.S. broadcast TV industry has long been grappling with declining advertising revenues and global economic volatility. In addition, the broadcast TV industry is categorized as an intensely competitive one. Soft advertising market is also a near-term headwind for the company.
Zacks Rank: TEGNA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. The company has generated a positive average earnings surprise of 9.00% in the previous four quarters.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: TEGNA meets Q1 2017 earnings estimate. The company reported adjusted earnings per share of 33 cents which were exactly in line with the Zacks Consensus Estimate. Investors should note that these figures take out stock option expenses.
Revenue: TEGNA reported total revenue of $778.5 million missing the Zacks Consensus Estimate of $800 million.
Key States to Note: In the first quarter of 2017, Media segment generated $160.1 million of adjusted EBITDA, down 20% year over year while the Digital segment generated adjusted EBITDA of $65.6 million, down 15.4% year over year.
TEGNA Inc. Price and EPS Surprise
TEGNA Inc. Price and EPS Surprise | TEGNA Inc. Quote
Check back later for our full write up on this TEGNA earnings report later!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>