TEGNA Inc. (TGNA) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.04%. A quarter ago, it was expected that this company would post earnings of $0.43 per share when it actually produced earnings of $0.45, delivering a surprise of 4.65%. Over the last four quarters, the company has s ...

Financial Performance - Total company revenue decreased 3% to $710 million, primarily due to lower subscription and advertising revenues, partially offset by higher political advertising dollars[1] - Subscription revenue decreased 7% to $367 million, primarily due to subscriber declines[1] - GAAP net income attributable to TEGNA Inc. was $82 million, with GAAP earnings per diluted share at $0.48[1] - Revenues for Q2 2024 were $710,363, a decrease of 3% from $731,506 in Q2 2023[18] - Operating income for Q2 2024 was $141,860, down 50% from $281,599 in Q2 2023[18] - Net income attributable to TEGNA Inc. for Q2 2024 was $82,144, a decline of 59% compared to $200,105 in Q2 2023[18] - Basic earnings per share for Q2 2024 were $0.48, down 48% from $0.92 in Q2 2023[18] - Total revenues for the six months ended June 30, 2024, were $1,424,615, a decrease of 3% from $1,471,833 in the same period of 2023[19] - Operating income for the six months ended June 30, 2024, was $279,420, down 39% from $455,154 in the same period of 2023[19] - Net income attributable to TEGNA Inc. for the six months ended June 30, 2024, was $271,704, a decrease of 11% from $304,408 in the same period of 2023[19] Cash Flow and Guidance - Adjusted free cash flow was $131 million for the quarter, with a two-year guidance range of $900 million to $1.1 billion for 2024-2025[9] - The company expects Adjusted free cash flow guidance for 2024/2025 to remain between $900 million and $1.1 billion[27] - The company provided forward-looking guidance for Adjusted free cash flow for the combined 2024-25 years, net leverage, and corporate expenses for fiscal year 2024[29] - Adjusted free cash flow for the quarter ending June 30, 2024, was $130.6 million, compared to $229.6 million year-to-date[38] Operating Metrics - Adjusted EBITDA for the quarter ended June 30, 2024, was $175,727,000, compared to $194,323,000 for the same quarter in 2023[36] - Adjusted EBITDA for 2024 was $349.9 million, down 12.3% from $399.3 million in 2023[37] - Operating income on a GAAP basis for 2024 was $279.4 million, a decline from $455.2 million in 2023[37] Shareholder Returns - The company returned $93 million of capital to shareholders in Q2 2024, including $72 million in share repurchases and $21 million in dividends[8] Debt and Leverage - Net debt as of June 30, 2024, was $2.64 billion, with a net leverage ratio of 2.9x[42] - The net leverage ratio is calculated using Adjusted EBITDA and is used to assess the company's borrowing capacity[28] - TEGNA is reaffirming its full-year 2024 guidance metrics, including a net leverage ratio below 3x at year-end[10] Special Items and Costs - The company incurred special items including retention costs of $2,198,000 and workforce restructuring costs of $1,830,000 in Q2 2024[31] - The company highlighted that certain expenses, such as stock-based compensation, are excluded from non-GAAP measures to provide a clearer view of ongoing operations[30] - The company faced significant M&A-related costs of $17,082,000 in Q2 2023, impacting the operating income for that period[32] - The company incurred $14.98 million in stock-based compensation expenses for the current period, an increase from $8.84 million in the previous year[37] - The provision for income taxes increased to $82.5 million in 2024 from $76.0 million in 2023[37] - M&A-related costs for the quarter were $356, with year-to-date costs totaling $1.7 million[38] - The company reported a workforce restructuring cost of $3.6 million in 2024, with additional retention costs included[37] Strategic Initiatives - TEGNA signed a multi-year distribution agreement with NHL's Seattle Kraken to air games starting in October across multiple states[7] - TEGNA's NBC stations are covering the Paris 2024 Olympics, enhancing local community engagement[6] - The company appointed two new independent directors to its Board of Directors as part of its regular refreshment process[4]

Wall Street analysts expect TEGNA Inc. (TGNA) to post quarterly earnings of $0.49 per share in its upcoming report, which indicates a year-over-year increase of 11.4%. Revenues are expected to be $717.66 million, down 1.9% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe. Ahead of a company's earnings disclosure, it i ...

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A month has gone by since the last earnings report for TEGNA Inc. (TGNA) . Shares have lost about 5.5% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is TEGNA due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. TEGNA Q1 Earnings Beat Estimates, Revenues Fall Y/Y TEGNA' ...

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TEGNA Inc. (NYSE:TGNA) Q1 2024 Earnings Call Transcript May 8, 2024 10:00 AM ET Company Participants Kirk von Seelen - Vice President and Treasurer David Lougee - President, CEO & Director Julie Heskett - Senior VP & CFO Tom Cox - Chief Growth Officer Conference Call Participants Dan Kurnos - Benchmark Company Steven Cahall - Wells Fargo Craig Huber - Huber Research Partners James Goss - Barrington Research Operator Hello and welcome to TEGNA First Quarter 2024 Earnings Conference Call. At this time, all pa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-6961 TEGNA INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation 8350 Broad Street, Suite 2000, Tysons, Virginia 22102-5151 ...

FOR IMMEDIATE RELEASE Wednesday, May 8, 2024 Increases regular quarterly dividend by 10% Expects previously announced business transformation initiatives to generate $90-$100 million of annualized cost savings exiting 2025 Integration of Octillion Media's cutting-edge technology into Premion is underway, will drive enhanced revenue growth and performance in local CTV/OTT Tysons, Va. – TEGNA Inc. (NYSE: TGNA) today announced financial results for the first quarter ended March 31, 2024. FIRST QUARTER FINANCIA ...