Local news provider Tegna's Q2 revenue beats estimates

Tegna

07/08/2025 13:02

Overview

Tegna Q2 revenue decreases 5% yr/yr but beats analyst expectations, per LSEG data

Adjusted EPS for Q2 beats consensus, reflecting operational efficiency, per LSEG data

Co reaffirms 2024/2025 two-year adjusted free cash flow guidance

Outlook

Tegna reaffirms 2024/2025 two-year adjusted FCF guidance of $900 mln to $1.1 bln

Company expects Q3 GAAP revenue to decline 18% to 20%

Tegna forecasts Q3 non-GAAP operating expenses to fall 2% to 3%

Company projects full-year 2025 corporate expenses at $40 mln to $45 mln

Result Drivers

REVENUE DECLINE - Revenue decreased 5% due to lower political advertising and AMS revenue, consistent with cyclical trends

COST MANAGEMENT - Operating expenses decreased 3% due to cost-cutting initiatives in compensation and outside services

DISTRIBUTION REVENUE - Distribution revenue remained flat as subscriber declines were offset by contractual rate increases

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$675 mln
$673.90 mln (6 Analysts)
Q2 Adjusted EPS
Beat
$0.44
$0.37 (5 Analysts)
Q2 Net Income
$68 mln
Q2 Adjusted EBITDA
Beat
$151 mln
$140.40 mln (6 Analysts)
Q2 Operating Income
$122 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

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

Wall Street's median 12-month price target for Tegna Inc is $21.00, about 22.1% above its August 6 closing price of $16.36

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nGNX8Ws0jd

(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.)