Cumulus Media(US:CMLS) ZACKSยท2024-11-01 14:16Company Performance - Cumulus Media reported a quarterly loss of $0.61 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.54, and a significant decline from earnings of $0.16 per share a year ago, resulting in an earnings surprise of -12.96% [1] - The company posted revenues of $203.6 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 0.22%, and down from $207.42 million in the same quarter last year [2] - Over the last four quarters, Cumulus has surpassed consensus EPS estimates only once and has also topped consensus revenue estimates just once [2] Stock Performance - Cumulus shares have declined approximately 78% since the beginning of the year, contrasting sharply with the S&P 500's gain of 19.6% [3] - The current Zacks Rank for Cumulus is 4 (Sell), indicating expectations for the stock to underperform the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.36 on revenues of $224.85 million, and for the current fiscal year, it is -$3.38 on revenues of $833.85 million [7] - The trend for estimate revisions ahead of the earnings release has been unfavorable, which could impact future stock performance [6] Industry Context - The Broadcast Radio and Television industry, to which Cumulus belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, suggesting a challenging environment for the company [8] - Another company in the same industry, Beasley Broadcast Group, is expected to report break-even quarterly earnings, indicating a year-over-year change of -100%, with revenues projected at $61.1 million, up 1.6% from the previous year [9]