We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TEGNA (TGNA) to Report Q1 Earnings: What's in the Cards?
Read MoreHide Full Article
TEGNA (TGNA - Free Report) is set to report first-quarter 2020 results on May 7.
The Zacks Consensus Estimate for earnings currently stands at 37 cents per share, implying 27.6% growth from the figure reported in the year-ago quarter. The bottom-line estimate has been revised a penny downward over the past 30 days.
Moreover, the consensus mark for revenues is currently pegged at $683 million, indicating a 32.2% surge from the year-ago quarter’s reported figure.
Notably, the company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and matched the mark in one, the average positive surprise being 6.52%.
Let’s see how things are shaping up for this announcement.
TEGNA Reports Strong Interim Results
TEGNA reported its preliminary first-quarter 2020 results on Apr 20. Revenues are expected to be $684 million, up 32% year over year and in line with the company’s prior guidance, driven by acquisitions and steady growth in subscription revenues as well as political advertising spending. Excluding political advertising, quarterly revenues are expected to be up 24% year over year.
Non-GAAP diluted earnings are expected to be 43 cents per share, up $48 year over year. Adjusted EBITDA is expected to be $212 million, up 39% year over year, reflecting solid contributions from new as well as existing stations and benefits from the on-going cost-containment efforts.
Factors to Consider
TEGNA’s preliminary first-quarter results reflect benefits of a stable subscriber base. Moreover, the company’s acquisitions of local TV stations comprising the Big Four affiliates are likely to have aided the top line in the to-be-reported quarter.
Further, renewal of CBS and Fox affiliate agreements is expected to have boosted revenues. Apart from higher political advertising spending that might have benefited the top line, solid retransmission rates are expected to have fueled TEGNA’s growth.
Further, we believe that climbing viewership of local news and media consumption due to lockdowns and shelter-in-place guidelines bodes well for the company’s first-quarter results.
However, lower advertising spending due to the coronavirus outbreak is expected to have affected Advertising & Marketing services, which accounts for more than 55% of TEGNA’s revenues.
Additionally, increasing programming fees and investments in content and digital are expected to have weighed on margins in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
TEGNA has an Earnings ESP of -1.37% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering from the sector as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Inphi Corporation has an Earnings ESP of +20.04% and is Zacks #2 Ranked.
Take Two Interactive (TTWO - Free Report) has an Earnings ESP of +13.24% and a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
TEGNA (TGNA) to Report Q1 Earnings: What's in the Cards?
TEGNA (TGNA - Free Report) is set to report first-quarter 2020 results on May 7.
The Zacks Consensus Estimate for earnings currently stands at 37 cents per share, implying 27.6% growth from the figure reported in the year-ago quarter. The bottom-line estimate has been revised a penny downward over the past 30 days.
Moreover, the consensus mark for revenues is currently pegged at $683 million, indicating a 32.2% surge from the year-ago quarter’s reported figure.
Notably, the company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and matched the mark in one, the average positive surprise being 6.52%.
TEGNA Inc. Price and EPS Surprise
TEGNA Inc. price-eps-surprise | TEGNA Inc. Quote
Let’s see how things are shaping up for this announcement.
TEGNA Reports Strong Interim Results
TEGNA reported its preliminary first-quarter 2020 results on Apr 20. Revenues are expected to be $684 million, up 32% year over year and in line with the company’s prior guidance, driven by acquisitions and steady growth in subscription revenues as well as political advertising spending. Excluding political advertising, quarterly revenues are expected to be up 24% year over year.
Non-GAAP diluted earnings are expected to be 43 cents per share, up $48 year over year. Adjusted EBITDA is expected to be $212 million, up 39% year over year, reflecting solid contributions from new as well as existing stations and benefits from the on-going cost-containment efforts.
Factors to Consider
TEGNA’s preliminary first-quarter results reflect benefits of a stable subscriber base. Moreover, the company’s acquisitions of local TV stations comprising the Big Four affiliates are likely to have aided the top line in the to-be-reported quarter.
Further, renewal of CBS and Fox affiliate agreements is expected to have boosted revenues. Apart from higher political advertising spending that might have benefited the top line, solid retransmission rates are expected to have fueled TEGNA’s growth.
Further, we believe that climbing viewership of local news and media consumption due to lockdowns and shelter-in-place guidelines bodes well for the company’s first-quarter results.
However, lower advertising spending due to the coronavirus outbreak is expected to have affected Advertising & Marketing services, which accounts for more than 55% of TEGNA’s revenues.
Additionally, increasing programming fees and investments in content and digital are expected to have weighed on margins in the to-be-reported quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
TEGNA has an Earnings ESP of -1.37% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering from the sector as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Shopify (SHOP - Free Report) has an Earnings ESP of +23.41% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Inphi Corporation has an Earnings ESP of +20.04% and is Zacks #2 Ranked.
Take Two Interactive (TTWO - Free Report) has an Earnings ESP of +13.24% and a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>