Financial Performance - Cumulus Media reported a quarterly loss of $0.68 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.49, and compared to a loss of $0.06 per share a year ago, indicating an earnings surprise of -38.78% [1] - The company posted revenues of $204.85 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.56%, and down from $210.14 million in the same quarter last year [2] - Over the last four quarters, Cumulus has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Cumulus shares have declined approximately 62.6% since the beginning of the year, contrasting with the S&P 500's gain of 14.2% [3] - The current Zacks Rank for Cumulus is 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.41 on revenues of $208.7 million, and for the current fiscal year, it is -$1.91 on revenues of $845.58 million [7] - The trend for estimate revisions ahead of the earnings release has been unfavorable, which could impact future stock movements [5][6] Industry Context - The Broadcast Radio and Television industry, to which Cumulus belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting a challenging environment [8]
Cumulus Media (CMLS) Reports Q2 Loss, Misses Revenue Estimates