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Dec 31, 2021
iHeartMedia Q4 2021 Earnings Report
Reported strong fourth quarter and full year results, demonstrating momentum and digital transformation.
Key Takeaways
iHeartMedia, Inc. reported a strong Q4 2021 with revenue up 14% year-over-year to $1,062 million and GAAP Operating income of $123 million, a 9% increase compared to Q4 2020. The company's digital audio group saw significant growth, with revenue up 59% year-over-year. iHeartMedia is focused on reducing net leverage to approximately 4x.
Q4 Revenue increased by 14% year-over-year, exceeding prior guidance.
Digital Audio Group Revenue increased by 59% year-over-year, driven by podcasting and digital advertising.
Multiplatform Group Revenue increased by 9% year-over-year, driven by business recovery from the negative impact of the COVID-19 pandemic
GAAP Operating income increased 9% year-over-year, driven by the continued recovery from the impact of COVID-19 on our businesses.
Revenue by Segment
Forward Guidance
iHeartMedia expects revenue to increase by approximately 17%-19% YoY in Q1 2022.
Positive Outlook
- January Consolidated Revenue up approximately 18.3% YoY
- Q1 Consolidated Revenue expected to increase by approximately 17%-19% YoY
- Expect to make significant progress in 2022 towards the previously announced net debt to adjusted EBITDA (net leverage) target of approximately 4x
- Strong top line growth continues to be coupled with margin expansion
- Continue to grow revenue going forward and, combined with our strict cost discipline, that we will continue to generate profit and Free Cash Flow as we remain focused on reducing our net leverage to approximately 4x
Historical Earnings Impact
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Avg. Return Before/After Earnings
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