TEGNA (TGNA) Tops Q2 EPS by 2c, provides guidance

TEGNA (NYSE: TGNA) reported Q2 EPS of $0.50, $0.02 better than the analyst estimate of $0.48. Revenue for the quarter came in at $710 million versus the consensus estimate of $715.23 million.

Third Quarter 2024 Key Guidance Metrics

Reflects expectations relative to third quarter 2023 results

Total company GAAP Revenue: Up 9% to 12%

Total Non-GAAP Operating Expenses: Flat to down slightly

Full-Year 2024 Key Guidance Metrics

TEGNA is reaffirming its guidance metrics for the full year of 2024 and improving the effective tax rate

2024/2025 Two-Year Adjusted FCF: $900 million – 1.1 billion

Net Leverage Ratio

Below 3x at year end

Corporate Expenses: $40 – 45 million

Depreciation: $56 – 60 million

Amortization: $51 – 55 million

Interest Expense: $170 – 173 million

Capital Expenditures: $62 – 67 million

Effective Tax Rate: 22.5 – 23.5%

For earnings history and earnings-related data on TEGNA (TGNA) click here.

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