Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
iHeartMedia (IHRT)
NASDAQ:IHRT
Holding IHRT?
Track your performance easily
Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.37Last Year’s EPS
$0.09Same Quarter Last Year
Based on 4 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 8.05%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant strategic initiatives, such as debt restructuring and cost savings, which indicate a positive trajectory for iHeartMedia's financial health. However, challenges in the Multiplatform Group and uncertainties in political advertising impacted the overall performance. Despite these concerns, the strong growth in Digital Audio and Audio & Media Services segments, along with future cost-saving measures, suggest a cautiously optimistic outlook.Company Guidance
In the iHeartMedia Q3 2024 earnings call, the company provided several key metrics and guidance figures. Bob Pittman, Chairman and CEO, highlighted that third-quarter adjusted EBITDA was $205 million, aligning with the $200 million to $220 million guidance range. Revenue increased by 5.8% compared to the prior year, matching expectations for mid-single-digit growth. The Digital Audio Group’s revenue rose 12.7% to $301 million, while podcast revenues increased by 11%. The company announced a Transaction Support Agreement with debtholders to extend debt maturities and maintain cash interest expenses, expecting to close the exchange offers by year-end. Additionally, iHeartMedia projected $150 million in cost savings for 2025, contributing to total annual cost savings of $200 million. For 2025, the company anticipates flat revenues and adjusted EBITDA of approximately $770 million, with a focus on leveraging technology for operational efficiency and revenue growth.Debt Restructuring and Capital Structure Improvement
iHeartMedia has entered into a Transaction Support Agreement with debtholders representing approximately 80% of the company's outstanding debt, which will extend the majority of debt maturities by 3 years and slightly reduce overall debt levels.
Cost Savings and Modernization Initiatives
iHeartMedia's ongoing modernization initiatives are expected to reduce annual expenses by approximately $150 million in 2025, with total annual cost savings of $200 million compared to 2024.
Digital Audio Group Growth
Digital Audio Group's Q3 revenues were $301 million, up 12.7% year-over-year, with podcast revenues growing 11% and nonpodcast digital revenues increasing by 14%.
Audio & Media Services Group Performance
The Audio & Media Services Group's revenues increased by 45.3% year-over-year, with adjusted EBITDA up 162% from the prior year.
Increase in Consolidated Revenues
Consolidated revenues for Q3 were up 5.8% compared to the prior year, with adjusted EBITDA of $205 million.
---
IHRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
IHRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $1.74 | $2.18 | +25.29% |
| Aug 08, 2024 | $1.43 | $1.45 | +1.40% |
| May 09, 2024 | $2.16 | $1.38 | -36.11% |
| Feb 29, 2024 | $2.27 | $2.77 | +22.03% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does iHeartMedia (IHRT) report earnings?
iHeartMedia (IHRT) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is iHeartMedia (IHRT) earnings time?
iHeartMedia (IHRT) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IHRT EPS forecast?
IHRT EPS forecast for the fiscal quarter 2024 (Q4) is $0.37.
---