TEGNA posted a decline in revenue and net income in Q3 2025 due to the expected drop in political and advertising-related revenue. Despite the revenue dip, cost-cutting initiatives helped sustain profitability. Adjusted EBITDA and Free Cash Flow also saw significant declines, though within expectations.
Revenue fell to $650.8 million, primarily due to a steep drop in political ad revenue and weaker AMS revenue.
Net income dropped 75% year-over-year to $37.1 million.
Adjusted EBITDA fell 52% to $130.7 million, largely due to the cyclical ad revenue downturn.
The company maintained a solid cash position with $233 million in cash and equivalents.
TEGNA did not issue forward guidance due to the pending Nexstar acquisition, which is expected to close in 2026.
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