Tribune Media (TRCO) Tops Q1 EPS by 42c, Miss on Revenues

Tribune Media (NYSE: TRCO) reported Q1 EPS of $0.51, $0.42 better than the analyst estimate of $0.09. Revenue for the quarter came in at $443.6 million versus the consensus estimate of $457.67 million.

FIRST QUARTER 2018 FINANCIAL HIGHLIGHTS (compared to first quarter 2017)

• Consolidated operating revenues increased 1% to $443.6 million
• Consolidated operating profit was $187.3 million, including a $133 million net pretax gain on the sales of spectrum, compared to an operating loss of $21.0 million for the first quarter of 2017
• Consolidated Adjusted EBITDA increased 108% to $119.9 million
• Television and Entertainment net advertising revenues fell 7% to $270.4 million
• Net core advertising revenues (which exclude political and digital revenues) decreased 10% to $245.0 million
• Retransmission revenues increased 25% to $118.1 million
• Carriage fee revenues increased 24% to $41.7 million
• Programming expenses decreased 29% to $100.7 million, primarily due to the shift in strategy at WGN America
• Cash distributions from TV Food Network were $115.1 million

For earnings history and earnings-related data on Tribune Media (TRCO) click here.

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