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Dec 31, 2019
iHeartMedia Q4 2019 Earnings Report
iHeartMedia's financial performance remained flat in Q4 2019, with revenue of $1,026.1 million. Excluding political revenue, revenue increased by 4.3%.
Key Takeaways
iHeartMedia, Inc. reported flat revenue for Q4 2019 at $1,026.1 million. Excluding political revenue, revenue increased by 4.3%. The company's digital revenue saw a significant increase of 33.6%.
Q4 2019 GAAP revenue was flat year-over-year, but excluding political revenue, it grew by 4.3%.
Digital revenue increased by 33.6% year-over-year.
GAAP Operating income decreased by 36.5% year-over-year, primarily due to the impact of fresh start accounting.
The company's cash balance at year-end was $400.3 million.
Revenue by Segment
Forward Guidance
iHeartMedia anticipates revenue growth in the mid-single digits, driven by political and digital growth. Adjusted EBITDA is expected to increase in the high-single digits, with margins improving to 28-29%. Free cash flow is projected to be between $300 million and $330 million, including investments in modernization initiatives.
Positive Outlook
- Contribution of high-margin political revenue from presidential election year
- Continued Digital growth driven by podcasting
- Modernization efficiencies
Historical Earnings Impact
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Avg. Return Before/After Earnings
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