Tegna Q3 revenue falls 19%, misses estimates

Tegna

10/11/2025 12:21

Overview

Tegna Q3 revenue fell 19%, missing analyst expectations

Adjusted EBITDA for Q3 beats analyst estimates, aided by cost-cutting initiatives

Nexstar to acquire Tegna for $6.2 bln, pending regulatory approval

Outlook

TEGNA will not provide forward-looking financial guidance due to pending Nexstar acquisition

TEGNA expects Nexstar acquisition to close by the second half of 2026

TEGNA suspends share repurchases but will continue quarterly dividends until acquisition closes

Result Drivers

POLITICAL ADVERTISING DECLINE - Revenue fell due to lower political advertising, consistent with cyclical even-to-odd year comparisons

AMS REVENUE DROP - AMS revenue decreased 12% due to macroeconomic challenges and loss of a major reseller partner

COST-CUTTING MEASURES - Operating expenses decreased due to cost-cutting initiatives, aiding Adjusted EBITDA

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$651 mln
$658.20 mln (4 Analysts)
Q3 Net Income
$37 mln
Q3 Adjusted EBITDA
Beat
$131 mln
$128.40 mln (4 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "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 5% above its November 7 closing price of $19.95

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

Press Release: ID:nGNX5fspMJ

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