IHEARTMEDIA Reports Earnings Results for Q2 of FY2023

August 12, 2023

🌥️Earnings Overview

For the quarter ending June 30 2023, IHEARTMEDIA ($NASDAQ:IHRT) reported total revenues of USD 920.0 million, a 3.6% decrease from the same period in the preceding year.

Stock Price

On Tuesday, IHEARTMEDIA reported its earnings results for the second quarter of fiscal year 2023. The stock opened at $4.2 and closed at $3.7, representing a drastic 16.5% plunge from its previous closing price of $4.5. This was primarily due to decreased advertising revenues, as businesses and consumers reined in their spending during the pandemic-induced slowdown.

Overall, these results are indicative of the challenges that IHEARTMEDIA is facing in the current business environment, and analysts are expecting further downturns in their stock price in the near future. Investors should pay close attention to more specific details of the company’s financials, in order to gain a better understanding of its performance. Live Quote…

About the Company

  • IHEARTMEDIA_Reports_Earnings_Results_for_Q2_of_FY2023″>Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Iheartmedia. IHEARTMEDIA_Reports_Earnings_Results_for_Q2_of_FY2023″>More…

    Total Revenues Net Income Net Margin
    3.85k -1.34k -15.3%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Iheartmedia. IHEARTMEDIA_Reports_Earnings_Results_for_Q2_of_FY2023″>More…

    Operations Investing Financing
    279.27 -138.83 -270.27
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Iheartmedia. IHEARTMEDIA_Reports_Earnings_Results_for_Q2_of_FY2023″>More…

    Total Assets Total Liabilities Book Value Per Share
    6.98k 7.39k -2.86
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Iheartmedia are shown below. IHEARTMEDIA_Reports_Earnings_Results_for_Q2_of_FY2023″>More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    9.3% -40.9% -17.5%
    FCF Margin ROE ROA
    3.3% -1717.0% -6.0%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    As part of GoodWhale’s analysis of IHEARTMEDIA, we used the Star Chart to evaluate the company’s financials. We found that IHEARTMEDIA is strong in terms of liquidity, medium in profitability and weak in asset, dividend, and growth. We then looked at the health score of IHEARTMEDIA and found it to be an intermediate 6/10. This indicates that IHEARTMEDIA is able to safely ride out any crisis without the risk of bankruptcy. Based on our analysis, we have classified IHEARTMEDIA as a ‘rhino’ company – a company which has achieved moderate revenue or earnings growth. This means that investors looking for moderate but steady growth and minimal risk would be interested in investing in IHEARTMEDIA. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The media industry is highly competitive, and iHeartMedia Inc is no exception. As one of the world’s leading radio broadcasting and digital media companies, iHeartMedia Inc faces fierce competition from other industry giants such as Salem Media Group Inc, ProSiebenSat 1 Media SE, and IMPRESA SGPS SA. Each company is vying for a greater share of the market, which has resulted in an intense battle for the hearts and minds of consumers.

    – Salem Media Group Inc ($NASDAQ:SALM)

    Salem Media Group Inc is a media company that provides radio and digital content, as well as other services, to Christian and family-themed audiences in the United States. As of 2023, the company has a market cap of 32.39M and a Return on Equity of 9.26%. The market cap is the total market value of the company, which is determined by multiplying the current share price by the total number of outstanding shares. The Return on Equity measures the company’s ability to generate profit from its shareholders’ equity. It is calculated by dividing net income by shareholders’ equity. Salem Media Group Inc’s market cap and ROE indicate that it is a relatively small company, with a relatively low rate of return.

    – ProSiebenSat 1 Media SE ($OTCPK:PBSFF)

    ProSiebenSat 1 Media SE is a leading German media company, operating across television, radio, digital, and commerce. The company has a market cap of 1.89 billion euros as of 2023, making it one of the largest media companies in the country. The Return on Equity (ROE) for ProSiebenSat 1 Media SE is 6.31%, indicating that the company is efficiently utilizing its assets to generate profits. This is well above the industry average and showcases the company’s commitment to delivering value to shareholders.

    – IMPRESA SGPS SA ($LTS:0M5U)

    IMPRESA SGPS SA is a Portuguese media, telecommunications, and energy conglomerate founded in 1924. The company is headquartered in Lisbon and is one of the leading companies in the Portuguese market. IMPRESA has a market capitalization of 27.72M as of 2023, making it an attractive investment opportunity for investors. The company also has a Return on Equity of 6.45%, indicating that it has been able to generate a satisfactory return on the funds that have been invested in it. IMPRESA SGPS SA provides a variety of services ranging from media and entertainment, telecommunications, energy, and others, making it a well-diversified company that offers a variety of products and services.

    Summary

    IHEARTMEDIA‘s quarterly results for Q2 of FY2023, ending June 30 2023, show a 3.6% drop in total revenue to USD 920.0 million. Net income decreased year over year from USD 14.4 million to USD -884.5 million. This has caused the stock price to fall on the same day.

    Investors may be concerned about the company’s financial outlook and should analyze the results in greater detail to determine if this drop in performance is a short-term event or indicative of underlying issues with the company. It may be worth considering alternatives before investing in IHEARTMEDIA.

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