Financial Data and Key Metrics Changes - Total company revenue for Q1 2025 was $680 million, a decrease of 5% year over year, aligning with the outlook of down 4% to 7% [16] - Adjusted EBITDA for Q1 2025 was $136 million, a 22% decrease year over year, primarily due to lower political advertising revenue and AMS revenue [21] - Cash and cash equivalents totaled $717 million at quarter end, with net leverage at 2.8 times [23] Business Line Data and Key Metrics Changes - Advertising and marketing services (AMS) revenue was $286 million, a 3% decrease year over year, impacted by macroeconomic headwinds and the Super Bowl airing on Fox [17] - Distribution revenue was flat year over year at $380 million, affected by a temporary service disruption and subscriber declines [19] - Digital advertising revenue showed year-over-year growth, continuing momentum from the previous quarter [18] Market Data and Key Metrics Changes - Advertising demand remains closely tied to overall economic sentiment, with consumer confidence softening, leading to a cautious approach from some advertisers [17] - Approximately 45% of traditional subscribers are up for renewal in 2025, presenting opportunities for value capture [20] Company Strategy and Development Direction - The company is focused on five key areas: building a strong team culture, leveraging strengths across stations, deploying technology and AI, growing digital revenue, and cutting unnecessary spending [6][7] - Recent sports rights deals have been secured across various leagues, enhancing local broadcasting capabilities [13] - The company is adapting to an evolving regulatory landscape, with potential for deregulation and M&A opportunities [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong market position and the ability to navigate economic pressures [25] - The outlook for Q2 2025 anticipates total company revenue to decline in the 4% to 7% range year over year, primarily due to lower political advertising revenue [24] - Management emphasized the importance of executing with discipline and unlocking operational efficiencies [25] Other Important Information - The company is committed to returning 40% to 60% of adjusted free cash flow to shareholders over the 2024-2025 period [22] - The effective tax rate guidance for 2025 has been lowered to a range of 22% to 23% due to expected tax refunds [24] Q&A Session Summary Question: Regarding FCC and deregulation opportunities - Management noted that the FCC is supportive of local broadcasters and that deregulation could unlock M&A opportunities, but specifics depend on the full landscape and pricing [30][31] Question: Advertising environment changes - Management indicated that Q2 is expected to be softer than Q1, with no cancellations but a cautious advertising environment due to lower consumer confidence [32][33] Question: M&A appetite and potential - Management expressed excitement about M&A opportunities, emphasizing the importance of capital allocation and the potential for significant savings through consolidation [40][62] Question: Premion performance - Management reported that Premion revenues remain flattish quarter to quarter, with local advertising continuing to grow while national revenues decline [42] Question: Spectrum usage and revenue potential - Management acknowledged the potential for new revenue streams from spectrum leasing and the importance of evolving technology for over-the-air television [48][49]

Core Insights - TEGNA Inc. reported revenue of $680.05 million for Q1 2025, a year-over-year decline of 4.8%, with EPS of $0.37 compared to $0.45 a year ago, indicating a decrease in profitability [1] - The reported revenue exceeded the Zacks Consensus Estimate of $677.17 million by 0.43%, while the EPS surprised positively by 8.82% against the consensus estimate of $0.34 [1] Revenue Breakdown - Political revenues were reported at $3.62 million, significantly below the two-analyst average estimate of $5.30 million, reflecting a year-over-year decline of 87% [4] - Advertising & Marketing Services revenues amounted to $286.40 million, slightly below the average estimate of $291.96 million, with a year-over-year change of -4.1% [4] - Other revenues were reported at $10.48 million, also below the average estimate of $12.45 million, showing a year-over-year decline of 15.5% [4] Stock Performance - TEGNA's shares have returned -1.3% over the past month, contrasting with the Zacks S&P 500 composite's increase of +11.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

TEGNA Inc. (TGNA) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.82%. A quarter ago, it was expected that this company would post earnings of $1.15 per share when it actually produced earnings of $1.21, delivering a surprise of 5.22%.Over the last four quarters, the company has sur ...

FOR IMMEDIATE RELEASE Thursday, May 8, 2025 See Table 3 for details 1 1 • Total company revenue decreased 5% to $680 million in line with our guidance. The primary drivers of the decline were lower political advertising revenue consistent with cyclical even-to-odd year comparison and lower advertising and marketing services (AMS) revenue due to our Super Bowl footprint this year versus last year. • Distribution revenue of $380 million was flat primarily due to a favorable comparison with the prior year peri ...

Core Insights - TEGNA Inc. reported a 5% year-over-year decrease in total revenue, amounting to $680 million, primarily due to lower political advertising revenue and a shift in Super Bowl advertising [4][17] - The company reaffirmed its two-year Adjusted Free Cash Flow guidance for 2024/2025, estimating between $900 million and $1.1 billion [7][25] - TEGNA's net income attributable to the company was $59 million, reflecting a 69% decline compared to the previous year [4][18] Financial Performance - Total company revenue decreased by 5% to $680 million, with distribution revenue remaining flat at $380 million and AMS revenue down 3% to $286 million [4][17] - GAAP operating expenses decreased by 1% to $571 million, while non-GAAP operating expenses remained flat [4][17] - Adjusted EBITDA fell by 22% to $136 million, primarily due to lower political advertising and AMS revenue [4][17] Operational Updates - TEGNA appointed Melissa Zimyeski as vice president of product and Mat Yurow as vice president of growth to enhance digital product management and revenue growth [5] - The company secured local team rights across major sports leagues, including the NBA, WNBA, NHL, and MLB, and expanded partnerships with NFL teams [5] Guidance and Outlook - For the full year 2025, TEGNA expects GAAP revenue to decline by 4% to 7% and non-GAAP operating expenses to remain flat to down 2% [8] - Corporate expenses are projected to be between $40 million and $45 million, with capital expenditures estimated at $50 million to $60 million [7]

Core Insights - TEGNA Inc. (TGNA) is expected to report quarterly earnings of $0.34 per share, reflecting a year-over-year decline of 24.4% [1] - Projected revenues for TEGNA are $677.17 million, down 5.2% from the same quarter last year [1] - Analysts have revised their consensus EPS estimate downward by 5.6% over the past 30 days, indicating a reassessment of initial projections [1] Revenue Breakdown - 'Revenues- Political' are estimated to reach $5.30 million, indicating a significant year-over-year decline of 81% [4] - 'Revenues- Subscription' are projected at $367.46 million, reflecting a decrease of 2.1% from the prior year [4] - 'Revenues- Advertising & Marketing Services' are expected to be $291.96 million, showing a decline of 2.3% year-over-year [4] - 'Revenues- Other' are anticipated to reach $12.45 million, suggesting a slight increase of 0.3% year-over-year [5] Market Performance - TEGNA shares have increased by 4.8% over the past month, compared to a 10.6% increase in the Zacks S&P 500 composite [6] - TEGNA holds a Zacks Rank 3 (Hold), indicating it is expected to closely follow overall market performance in the near term [6]

Core Insights - The Zacks Broadcast Radio and Television industry is experiencing challenges due to cord-cutting, but companies like Netflix, Gray Media, Fox Corporation, and TEGNA are benefiting from increased digital content consumption and diverse offerings [1][2]. Industry Overview - The industry includes companies providing entertainment, sports, news, and musical content across various platforms, generating revenue through program sales, advertising, and subscriptions [2]. - There is a shift towards a variable cost model to enhance flexibility and reduce fixed costs amid evolving market dynamics [2]. Trends - Companies are diversifying content for OTT services to adapt to changing consumer preferences, which is expected to boost ad revenues [3]. - The rise in digital viewing is driving demand for tailored content, leveraging AI and machine learning for user engagement [4]. - The macroeconomic landscape, including high inflation and competition from tech companies, is impacting advertising budgets and revenue growth [5]. - The introduction of low-priced "skinny bundles" is changing revenue dynamics, potentially dampening top-line performance [6]. Performance Metrics - The industry ranks 41 in the Zacks Industry Rank, indicating it is in the top 17% of over 250 industries, with a positive earnings outlook [7][9]. - The industry has outperformed the broader Zacks Consumer Discretionary sector and the S&P 500, gaining 54.4% over the past year compared to 2% and 1.5% respectively [11]. - The current EV/EBITDA ratio for the industry is 15.35X, slightly above the S&P 500's 15.19X [14]. Company Highlights - **Fox Corporation**: Demonstrated strong financial momentum with a 20% revenue growth and record EBITDA of $781 million, while also expanding its audience share and attracting new advertisers [17][18]. - **TEGNA**: Focused on modernization and technology deployment, targeting $90-$100 million in annualized savings, with a strong balance sheet and digital transformation initiatives [22][24]. - **Netflix**: Achieved first-quarter revenues of $10.54 billion, up 12.5% year over year, with a growing subscriber base and ambitious revenue targets [27][28]. - **Gray Media**: Positioned to capitalize on market-leading stations and diversified revenue streams, with successful partnerships in local sports and a focus on reducing debt [31][35].

TYSONS, Va. and INDIANAPOLIS, April 17, 2025 (GLOBE NEWSWIRE) -- The Indiana Fever and WTHR, the TEGNA owned NBC affiliate in Indianapolis, today announced a multi-year extension of their landmark distribution agreement to deliver more exciting basketball action to central Indiana fans than ever before. WTHR and WALV, TEGNA's MeTV affiliate, will air 18 games locally, giving fans across central Indiana unprecedented access to watch the Fever in action as they fight for a return to the WNBA playoffs. Last se ...

Core Insights - Premion has launched expanded capabilities and new tools for advertisers to optimize campaigns across channels, integrating Octillion to enhance its local CTV platform and demand side platform (DSP) [1][2] Group 1: Advertising Solutions - Premion's DSP offers a privacy-focused, cookieless platform that improves audience targeting and campaign performance, featuring a powerful device graph for seamless identity resolution [2] - The DSP integrates CTV into a broader omnichannel strategy, allowing advertisers to combine CTV with video, audio, display, and retargeting for a unified approach [4] - The Co-Op advertising solution enhances return on ad spend (ROAS) by eliminating campaign competition and sharing costs among brand partners, maximizing exposure and ensuring consistent branding [5] Group 2: Publisher Relationships - Premion is expanding partnerships with major publishers, providing access to differentiated demand and scalable solutions that complement national direct sales efforts while unlocking new local revenue opportunities [6] Group 3: Brand Safety and Recognition - Premion has achieved "TAG Platinum" status for brand safety and fraud protection, reinforcing its commitment to delivering a trusted advertising environment [7] - The company has received multiple industry awards, including recognition for Best Ad Targeting Solution and Outstanding Brand Safety Strategy, highlighting its leadership in the CTV advertising space [9]

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Colruyt SA Unsponsored ADR (CUYTY) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.Colruyt SA Unsponsored ADR is a member of our Consumer Discretionary group, which includes 257 different companies and currently sits at ...