TEGNA INC Reports Q2 FY2023 Earnings of USD 731.5 Million Revenue and USD 200.1 Million Net Income
August 7, 2023
🌥️Earnings Overview
TEGNA ($NYSE:TGNA) Inc. announced its financial results for the second quarter of FY2023, ending June 30, 2023, revealing total revenue of USD 731.5 million, a 6.8% decrease from the same period in 2023, and net income of USD 200.1 million, a 52.1% increase from the same period in 2023.
Price History
On Thursday, TEGNA INC reported earnings for Q2 FY2023, with total revenue of USD 731.5 million and net income of USD 200.1 million. TEGNA INC’s stock opened at $17.1 on Thursday and closed at $16.8, down 0.2% from the prior closing price of $16.9. Despite the drop in share price, TEGNA INC’s performance in Q2 FY2023 was an overall success, with strong revenue and net income growth from the prior year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tegna Inc. More…
| Total Revenues | Net Income | Net Margin |
| 3.19k | 667.73 | 17.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tegna Inc. More…
| Operations | Investing | Financing |
| 728.25 | -43.32 | -396.33 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tegna Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.12k | 4.19k | 14.42 |
Key Ratios Snapshot
Some of the financial key ratios for Tegna Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.4% | 18.4% | 32.3% |
| FCF Margin | ROE | ROA |
| 21.5% | 21.3% | 9.1% |
Analysis
GoodWhale has conducted an analysis of TEGNA INC’s wellbeing and we believe it has a very high health score of 9/10 with regard to its cashflows and debt. This means that it is capable of paying off debt and funding operations for the future. Revenue and earnings growth could be attractive to investors looking for potential returns on their investment. Additionally, TEGNA INC is strong in dividend and profitability, medium in growth, and weak in asset. This could be an appealing combination for value investors, who are looking for a good balance between risk and reward. More…
Peers
It operates in various segments including broadcasting, digital media, and marketing services. The company’s broadcasting segment owns and operates television stations. The digital media segment comprises Cars.com, a leading online vehicle shopping destination, and CareerBuilder, a leading online job site. The marketing services segment provides advertising and marketing solutions to businesses. Tegna’s competitors include Entravision Communications Corp, Cumulus Media Inc, and Sharpline Broadcast Ltd.
– Entravision Communications Corp ($NYSE:EVC)
Entravision Communications Corporation is a diversified Spanish-language media company that owns and operates radio and television stations in the United States, as well as digital media properties. The company’s radio stations broadcast Spanish-language programming, while its television stations broadcast English-language programming targeted at the Hispanic market. Entravision also operates a number of websites and digital platforms that reach Hispanic audiences.
Entravision’s radio stations reach approximately 4.8 million listeners each week, while its television stations reach approximately 3.5 million households. The company’s digital media properties reach approximately 7 million unique visitors each month. Entravision is headquartered in Santa Monica, California.
– Cumulus Media Inc ($NASDAQ:CMLS)
Cumulus Media Inc. is one of the largest radio station groups in the United States, with 446 stations across the country. The company’s stations reach nearly 150 million people each week. Cumulus Media also owns and operates Westwood One, a national radio network that provides programming and content to over 7,500 radio stations. In addition to its radio operations, Cumulus Media also owns and operates a number of digital media properties.
Cumulus Media has a market cap of 137.91M as of 2022 and a Return on Equity of 25.91%. The company’s strong financial performance is due in part to its large scale radio operations. Cumulus Media’s stations reach nearly 150 million people each week, and the company also owns and operates Westwood One, a national radio network. In addition to its radio operations, Cumulus Media also owns and operates a number of digital media properties, which gives it a diversified revenue stream.
– Sharpline Broadcast Ltd ($BSE:543341)
The company’s market cap is 124.31M as of 2022. The company’s ROE is 3.53%. The company is engaged in the business of providing radio broadcasting services.
Summary
TEGNA Inc. reported results for the second quarter of FY2023, indicating total revenue of USD 731.5 million and net income of USD 200.1 million. This represents a 6.8% decrease in revenue year-on-year, however, net income increased by 52.1% from the previous year. Prospective investors should also take into account the potential for positive catalysts such as strengthening market trends, industry tailwinds, and innovative strategies.
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