Entercom Communications (ETM) Misses Q4 EPS by 12c, Miss on Revenues
Note: EPS may not be comparable
Entercom Communications (NYSE: ETM) reported Q4 EPS of $0.16, $0.12 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $246.61 million versus the consensus estimate of $276.82 million.
- The Company completed its merger with CBS Radio on November 17, 2017 and issued 101,407,494 Class A shares to former shareholders of CBS Corporation who participated in the exchange
- Net revenues for the quarter were $246.6 million, compared to $124.6 million in the fourth quarter of 2016
- Operating income for the quarter was a loss of $2.3 million, which was negatively impacted by $36.0 million of merger, restructuring, impairment and financing costs. This compared to operating income of $30.0 million in the fourth quarter of 2016
- Net income per diluted share for the quarter, which reflects the benefit of the recent tax reform legislation, was $2.58, compared to net income per share of $0.27 in the fourth quarter of 2016
- Adjusted EBITDA for the quarter was $45.0 million, compared to $35.2 million in the fourth quarter of 2016
For earnings history and earnings-related data on Entercom Communications (ETM) click here.