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Mar 31, 2025
TEGNA Q1 2025 Earnings Report
Reported first quarter 2025 results and provided second quarter guidance.
Key Takeaways
TEGNA reported a 5% decrease in total revenue for the first quarter of 2025, primarily due to lower political advertising revenue and advertising and marketing services revenue. Despite this, the company achieved its key guidance metrics for the quarter and reaffirmed its two-year Adjusted Free Cash Flow guidance.
Total company revenue decreased 5% to $680 million, in line with guidance.
GAAP operating income totaled $109 million, a decrease of 21% year-over-year.
GAAP diluted earnings per share were $0.36, a decrease of 66% year-over-year.
Adjusted EBITDA decreased 22% to $136 million.
Revenue by Segment
Forward Guidance
TEGNA provided guidance for the full year and second quarter of 2025.
Positive Outlook
- Reaffirmed 2024/2025 two-year Adjusted Free Cash Flow guidance of $900 million to $1.1 billion.
- Anticipates full-year 2025 corporate expenses between $40 million and $45 million.
- Forecasts full-year 2025 depreciation between $60 million and $65 million.
- Projects full-year 2025 amortization between $33 million and $37 million.
- Estimates full-year 2025 interest expense between $165 million and $170 million.
Challenges Ahead
- Expects second quarter 2025 total company GAAP revenue to be down -4% to -7% compared to Q2 2024.
- Anticipates second quarter 2025 total non-GAAP operating expenses to be flat to down -2% compared to Q2 2024.
- Forecasts full-year 2025 capital expenditures between $50 million and $60 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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