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Mar 31, 2020
TEGNA Q1 2020 Earnings Report
Reported thirty-two percent revenue growth in the first quarter driven by strength in subscription and political revenues and net income increased by 17 percent.
Key Takeaways
TEGNA Inc. reported strong first quarter results with a 32% increase in total company revenue, driven by acquisitions and growth in subscription and political revenues. Net income attributable to TEGNA was $86 million, up 17% year-over-year. The company faces uncertainty due to the COVID-19 pandemic impacting non-political advertising revenue.
Total company revenue was $684 million, up 32 percent year-over-year.
First quarter subscription revenue of $333 million was up 38 percent.
Net income attributable to TEGNA was $86 million, up 17 percent.
Free cash flow for the first quarter was $142 million, up 30 percent year-over-year.
Revenue by Segment
Forward Guidance
TEGNA anticipates that the COVID-19 pandemic will have a material negative impact on its non-political advertising revenue stream, particularly in the second quarter of 2020, with sequential improvement expected throughout the remainder of the fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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