Cumulus Media (CMLS) Misses Q4 EPS by 3c, Revenues Beat

Cumulus Media (NASDAQ: CMLS) reported Q4 EPS of ($0.01), $0.03 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $245.9 million versus the consensus estimate of $239.23 million.

Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, "Given 2020’s extenuating circumstances, I am extremely proud of the Company’s performance and the efforts of the entire Cumulus team to meet the challenges posed by COVID-19. In the face of the pandemic, we maximized revenue performance, materially reduced expenses, generated cash through strong working capital management, and executed highly accretive divestitures that strengthened our balance sheet. As a result of these efforts and with a recovering economy, we believe that we are well-positioned to return our business to its pre-pandemic trajectory and to capitalize on strategic and financial options to best drive shareholder returns.”

For earnings history and earnings-related data on Cumulus Media (CMLS) click here.

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