Entravision(US:EVC)2021-05-07 01:48Financial Data and Key Metrics Changes - The company reported net revenue of $148.9 million for Q1 2021, an increase of 132% year-over-year [6] - Adjusted EBITDA totaled $14.2 million, up 47% from the prior year period [9] - Free cash flow was approximately $13 million, up 149% compared to Q1 2020 [36] - Earnings per share for Q1 2021 were $0.06, compared to a loss of $0.42 per share in the same quarter last year [37] Business Line Data and Key Metrics Changes - Television division generated $36.1 million, down 8% year-over-year, primarily due to lack of political revenue [11] - Digital revenues totaled $101.5 million, an increase of 661% year-over-year, representing 68% of total revenues [16] - Audio revenues totaled $11.3 million, a decrease of 4% year-over-year, while core audio revenue increased by 6% [19][28] Market Data and Key Metrics Changes - The television advertising business is pacing 44% over the prior year period, with core TV pacing at plus 55% [39] - Digital business, including revenue from Cisneros Interactive, is pacing plus 900%, with a pro forma increase of 115% [39] - Audio business is pacing plus 84%, with core audio, excluding political, pacing plus 103% [40] Company Strategy and Development Direction - The company is focused on expanding and enhancing its digital offerings following the acquisition of Cisneros Interactive [41] - A streamlined cost structure is expected to improve operational efficiency while delivering high-quality services [42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth due to improving macroeconomic conditions [42] - The company anticipates strong momentum from Q1 results to carry through the year [26] Other Important Information - The company maintained a dividend of $0.250 and has paused share buybacks [32] - Total debt was $214.5 million, with a net leverage of 2.15 times at the end of Q1 [38] Q&A Session Summary Question: How did your legacy digital businesses perform in the quarter? - The legacy digital businesses performed better than expected, achieving over 100% growth compared to the previous year [45] Question: Have you started to see political advertising related to the California recall? - Political advertising is expected to generate an additional $2 million to $4 million in revenue, primarily in Q4 [48][49] Question: What is the revenue impact of upcoming soccer tournaments? - The company expects an incremental revenue of $2 million to $3 million from soccer tournaments, primarily in Q2 [50]