TEGNA (NYSE: TGNA) reported Q4 EPS of $0.43, $0.05 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $725.85 million versus the consensus estimate of $752.78 million.

FREE CASH FLOW GUIDANCE THROUGH 2024-2025

Based on management’s current expectations and following affiliation renewal agreements with NBC and ABC, as well as retransmission consent agreements repricing 30 percent of traditional subscribers, the Company expects to generate free cash flow in the range of $900 million - $1.1 billion during the 2024-2025 period.

TEGNA’s free cash flow guidance includes the impact of transformation initiatives to streamline operations, pursue innovation-driven opportunities, and achieve cost reductions. TEGNA expects to complete these transformation initiatives through 2025, with initial benefits expected to occur in the second half of 2024. TEGNA will provide additional updates on its business transformation initiatives over the coming quarters.

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