iHeartMedia Q1 revenue rises on podcast strenght, reaffirms 2026 guidance

iHeartMedia

11/05/2026 21:13

Overview

U.S. audio broadcaster's Q1 revenue rose 9.6% yr/yr, beating analyst expectations

Adjusted EBITDA for Q1 declined 11.4% yr/yr and missed analyst estimates

Company announced new $50 mln annualized cost savings program for second half 2026

Outlook

Company expects Q2 consolidated revenue to increase low-single digits

iHeartMedia sees Q2 Adjusted EBITDA of $140 mln to $160 mln

Company reaffirms 2026 Adjusted EBITDA guidance of $800 mln and free cash flow of $200 mln

Result Drivers

DIGITAL AUDIO GROWTH - Digital Audio Group revenue rose 18%, led by a 27% increase in podcast revenue and higher demand for digital advertising

MULTIPLATFORM GROUP - Multiplatform Group revenue grew 4%, mainly from increased non-cash trade revenue, but was partially offset by lower broadcast advertising amid uncertain market conditions

HIGHER OPERATING COSTS - Operating expenses rose due to higher variable content costs and increased non-cash trade and barter expenses, pressuring margins and Adjusted EBITDA

Company press release: ID:nBw8ygrqMa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$884 mln
$871.50 mln (4 Analysts)
Q1 Adjusted EBITDA
Miss
$93 mln
$102.57 mln (4 Analysts)
Q1 Free Cash Flow
-$114 mln
Q1 Operating Income
$1.50 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the broadcasting peer group is "hold"

Wall Street's median 12-month price target for iHeartMedia Inc is $3.13, about 45% below its May 8 closing price of $5.68

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)