TEGNA (TGNA) Tops Q2 EPS by 1c
TEGNA (NYSE: TGNA) reported Q2 EPS of $0.50, $0.01 better than the analyst estimate of $0.49. Revenue for the quarter came in at $733 million versus the consensus estimate of $730.64 million.
Third Quarter 2021 Key Guidance Metrics |
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Reflects expectations relative to third quarter 2020 results |
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Total Company GAAP Revenue | + Low-Single Digits percent | ||
Non-GAAP Revenue (excluding political) | + High-Teens percent | ||
Total Non-GAAP Operating Expenses | + Mid-to-High Single Digits percent | ||
Non-GAAP Operating Expenses |
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(excluding programming) | + Mid-Single Digits percent |
TEGNA is raising its guidance for 2020-2021 free cash flow as a percentage of 2020-2021 revenue, and reaffirming all other guidance for key financial metrics as provided on May 10, 2021.
Full-Year 2021 Key Guidance Metrics |
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Subscription Revenue Growth | + Mid-to-High Teens percent4 | ||
Corporate Expenses | $44 - 48 million | ||
Depreciation | $62 - 66 million | ||
Amortization | $60 - 65 million | ||
Interest Expense | $187 - 192 million | ||
Capital Expenditures (Non-recurring capital expenditures) | $64 - 69 million (including $20 - 22 million non-recurring) | ||
Effective Tax Rate | 24.0 - 25.0% | ||
Net Leverage Ratio | Low 3x | ||
2020/21 Free Cash Flow as a % of combined 2020/21 Revenue | 21.5 - 22.0% |
For earnings history and earnings-related data on TEGNA (TGNA) click here.