TEGNA Inc. (TGNA - Free Report) reported fourth-quarter fiscal 2018 non-GAAP earnings of 74 cents per share, which beat the Zacks Consensus Estimate by 2 cents. The figure surged 131% on a year-over-year basis owing to operating income growth and lower tax rates.
On a GAAP basis, revenues increased 31% year over year to $642 million. Top-line growth was primarily driven by increase in political and subscription revenues. However, the figure came below the Zacks Consensus Estimate of $643.9 million.
Notably, GAAP revenues had a negative impact of $10 million in the reported quarter due to Premion refunds given in the previous quarters. Due to certain system issues, Premion’s service was not fully delivered to a few end users, following which the company had to issue refunds.
TEGNA’s adjusted revenues, which exclude political advertising, were up 5% year over year to $478.6 million.
TEGNA Inc. Price and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
TEGNA Inc. (TGNA - Free Report) reported fourth-quarter fiscal 2018 non-GAAP earnings of 74 cents per share, which beat the Zacks Consensus Estimate by 2 cents. The figure surged 131% on a year-over-year basis owing to operating income growth and lower tax rates.
On a GAAP basis, revenues increased 31% year over year to $642 million. Top-line growth was primarily driven by increase in political and subscription revenues. However, the figure came below the Zacks Consensus Estimate of $643.9 million.
Notably, GAAP revenues had a negative impact of $10 million in the reported quarter due to Premion refunds given in the previous quarters. Due to certain system issues, Premion’s service was not fully delivered to a few end users, following which the company had to issue refunds.
TEGNA’s adjusted revenues, which exclude political advertising, were up 5% year over year to $478.6 million.
TEGNA Inc. Price and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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