Tegna Q4 revenue misses on drop in political advertising

Tegna

02/03/2026 12:43

Corrects Key Details table to say Q4 revenue was $706.1 mln from $358 mln; corrects throughout to say revenue beat estimates

Overview

U.S. media company's Q4 revenue fell 19% yr/yr, but beat analyst expectations

Adjusted EBITDA for Q4 beat analyst expectations, aided by cost-cutting

Company on track for Nexstar acquisition by H2 2026, pending approvals

Outlook

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

Tegna expects Nexstar acquisition to close by second half of 2026

Tegna suspends share repurchases but will continue paying regular dividends

Result Drivers

POLITICAL ADVERTISING DECLINE - Revenue fell 19% in Q4 due to a drop in political advertising, typical in non-election years

AMS REVENUE GROWTH - AMS revenue grew 4% driven by growth in linear and local digital advertising, despite TV advertising challenges

COST-CUTTING INITIATIVES - Operating expenses decreased due to cost-cutting measures, primarily in compensation and outside services

Company press release: ID:nGNX2g6jkK

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$706.1 mln
$700.75 mln (5 Analysts)
Q4 Net Income
$56 mln
Q4 Adjusted EBITDA
Beat
$161 mln
$155.97 mln (5 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "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 $22.00, about 5% above its February 27 closing price of $20.95

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.)