TEGNA Q4 2022 Earnings Report
Key Takeaways
TEGNA Inc. reported fourth-quarter results with an 18% increase in total company revenue, driven by political revenue growth. Subscription revenue also reached a record for the quarter. The company achieved a net income of $219 million on a GAAP basis and an adjusted EBITDA of $361 million.
Total company revenue increased by 18% year-over-year to $917 million, driven by political revenue.
Subscription revenue reached a record $372 million, up 11% year-over-year.
Net income was $219 million on a GAAP basis, or $221 million on a non-GAAP basis.
Adjusted EBITDA increased by 47% year-over-year to $361 million.
TEGNA
TEGNA
TEGNA Revenue by Segment
Forward Guidance
TEGNA elected to extend the Outside Date from February 22, 2023 to May 22, 2023. The closing of the transaction remains subject to the approval of the Federal Communications Commission (the "FCC") and customary closing conditions. On February 24, 2023, the FCC issued a hearing designation order with respect to the transaction. TEGNA is currently evaluating its options.
Revenue & Expenses
Visualization of income flow from segment revenue to net income