Cumulus Media Inc reports results for the quarter ended in January 1 - Earnings Summary

Cumulus Media

01/11/2024 14:24

* Cumulus Media Inc  CMLS.OQ  reported a quarterly adjusted
loss
of 61 cents​​ per share for the quarter ended January 1, lower
than the same quarter last year, when the company reported EPS
of 16 cents.  The mean expectation of two analysts for the
quarter was for a loss of 54 cents per share. Wall Street
expected results to range from -64 cents to -44 cents per share.
    * Revenue fell 1.8% to $203.60 million from a year ago;
analysts
expected $204.25 million. 
    * Cumulus Media Inc's reported EPS for the quarter was a
loss
of 61 cents​.
    * The company reported a quarterly loss of $10.32 million.
    * Cumulus Media Inc shares had fallen by 10.7% this
quarter and
lost 78.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 33.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the broadcasting
peer
group is also "hold"

Wall Street's median 12-month price target for Cumulus Media Inc
is $11.00 
This summary was machine generated from LSEG data November 1 at
02:23 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      -0.54          -0.61          Missed
 Jun. 30 2024      -0.48          -1.64          Missed
 Mar. 31 2024      -1.32          -0.85          Beat
 Dec. 31 2023      -0.59          -1.98          Missed