• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    TEGNA Inc. Reports Second Quarter 2024 Results and Provides Third Quarter 2024 Guidance

    8/7/24 8:00:00 AM ET
    $TGNA
    Broadcasting
    Industrials
    Get the next $TGNA alert in real time by email

    Mike Steib to succeed David Lougee as President, CEO and Director, effective August 12, 2024

    Achieved second quarter key guidance metrics and reaffirms full-year guidance

    Returned $93 million of capital to shareholders, on track to meet commitment to return approximately $350 million of capital in 2024

    Appointed two new independent Directors to the Board of Directors

    TEGNA Inc. (NYSE:TGNA) today announced financial results for the second quarter ended June 30, 2024.

    SECOND QUARTER FINANCIAL HIGHLIGHTS:

    All Year-Over-Year Comparisons Unless Otherwise Noted:

    • Total company revenue decreased 3% to $710 million, at the midpoint of our guidance range, primarily due to lower subscription and advertising and marketing services ("AMS") revenues partially offset by higher political advertising dollars.
    • Subscription revenue decreased 7% to $367 million, primarily due to subscriber declines partially offset by contractual rate increases.
    • AMS revenue decreased 5% to $301 million due to softness in demand from national accounts.
    • GAAP operating expenses increased 26% to $569 million primarily due to the receipt of a $136 million merger termination fee reflected in last year's results. Non-GAAP operating expenses1 were flat benefiting from our initial set of cost transformation initiatives.
    • GAAP and non-GAAP operating income1 totaled $142 million and $147 million, respectively.
    • GAAP net income attributable to TEGNA Inc. was $82 million and non-GAAP net income attributable to TEGNA Inc.1 was $86 million.
    • GAAP and non-GAAP earnings per diluted share1 were $0.48 and $0.50, respectively.
    • Total company Adjusted EBITDA2 decreased 10% to $176 million primarily due to lower subscription and AMS revenue partially offset by higher political revenues.

    ___________________________________________

    1 See Table 3 for details

    2 See Table 4 for details

    "Results for the second quarter fell within our guidance range, underscoring TEGNA's ability to effectively manage what we can control in the current macroeconomic environment," said Dave Lougee, president and chief executive officer. "As we look ahead to the back half of the year, it is shaping up to be another robust political cycle. We are encouraged by the unprecedented energy and additional fundraising taking place that could result in record spending following the Democratic National Convention through election day. The substantial cash raised from both sides of the ticket thus far gives us high confidence that ad spending will be very healthy this election season. Our footprint and scale provide us with a competitive advantage during election years, particularly those with tight races in key battleground states. In addition, Premion is also experiencing growing demand from political advertisers for a multi-faceted programmatic and managed service approach to executing data-driven and outcomes-based CTV campaigns."

    Mr. Lougee continued, "Aiding our confidence in the second half of the year is the early success of the Summer Olympics in Paris as well as the expanded distribution of the WNBA Indiana Fever and NHL Seattle Kraken games. We built on our relationship with the Seattle Kraken and are now slated to broadcast the team's games over-the-air not only on our Seattle, Portland and Spokane stations beginning in October, but also in Alaska through a partnership with Gray Media Group. Our continued expansion in sports broadcasting further highlights our strong station brands and distribution capabilities in key markets. Looking ahead, we remain focused on utilizing our disciplined capital allocation framework and organic growth engine to maximize long-term value for our shareholders and execute strategic initiatives to drive profitable growth."

    Mr. Lougee concluded, "As I approach my final days as CEO, I want to thank all our TEGNA stakeholders for making the last seven years leading this great organization the highlight of my career. I am extremely enthused about the addition of Mike Steib as my successor, with his strong track record of performance and results. Mike has hands-on experience developing high-performing teams that build industry-defining products and brands, which have delivered extraordinary shareholder returns. His passion for the vital role we play in local communities across this country will help the team build on our purpose-driven focus as a company. I look forward to following Mike's journey closely and to being a trusted advisor to him through this transition."

    KEY STRATEGIC UPDATES:

    • Mike Steib to Succeed David Lougee as President, CEO and a Director as of August 12, 2024 – Steib is the former CEO of Artsy, the world's largest online platform for discovering and collecting art, and previously served as president and CEO of XO Group (NYSE:XOXO), parent company of The Knot. Prior to those roles, he spent 10 years in executive positions at NBCUniversal and Google launching, scaling, and acquiring advertising-supported businesses. (Press Release)
    • TEGNA Board of Directors Appoints Two New Independent Directors as of July 1, 2024 – As part of its regular refreshment process, the Board appointed two new independent directors, Catherine Dunleavy, the incoming COO and CFO of Olaplex, who also has experience as a media and finance executive with Away, NIKE and NBCUniversal, and Denmark West, who heads Market Intelligence and Strategic Engagements at X, The Moonshot Factory, a division of Alphabet. (Press Release)
    • TEGNA's NBC Stations Head to the Paris 2024 Olympics – TEGNA journalists traveled to Paris to bring the emotion and excitement of 100 local athletes participating in the Summer Olympic Games home to our local communities. TEGNA stations are producing "Olympic Zone," airing before primetime NBC coverage and featuring stations' top personalities who provide an inspiring look at the games, local athletes and their families.
    • Indiana Fever Broadcasts in 12 Markets Grows Advertiser and Sponsorship Opportunities – In the second quarter, on the heels of our initial WTHR (Indianapolis) deal to carry Indiana Fever games in April, TEGNA expanded distribution of free over-the-air broadcasts of Fever games to 11 additional markets in May, which include TEGNA stations WOI (Des Moines), WQAD (Quad Cities) and WHAS (Louisville) and stations owned by Gray Media, Sinclair, Nexstar Media Group, Inc., Coastal Television Broadcasting Group and Weigel Broadcasting Co. Games aired on TEGNA stations during the quarter have experienced excellent audience and sponsor reaction. (Press Release)
    • TEGNA Signs Multi-Year Distribution Agreement with NHL's Seattle Kraken for Upcoming Season – TEGNA's partnership with the Seattle Kraken to air games for free over-the-air begins in October across Washington, Oregon, and Alaska, marking a significant expansion in access for fans throughout the Pacific Northwest. (Press Release)
    • TEGNA Named 2024 Honoree of The Civic 50 and Telecommunications Sector Leader – The Civic 50 by Points of Light named TEGNA one of the most community-minded companies in the U.S. for a fifth consecutive year and Telecommunications Sector Leader for a fourth year. (Press Release)
    • TEGNA Stations Honored with 73 Regional Edward R. Murrow Awards – TEGNA stations garnered six overall excellence, seven diversity, equity and inclusion and five innovation awards. TEGNA stations received more honors in these categories than any other local broadcast station group. (Press Release)

    CAPITAL ALLOCATION, LEVERAGE, AND LIQUIDITY:

    • The company continues to expect to return 40-60% of Adjusted free cash flow3 generated in 2024-2025 to shareholders through share repurchases and dividends, including approximately $350 million in 2024 through dividends and share repurchases.
    • During the second quarter, the company returned $93 million of capital to shareholders, with $72 million in share repurchases, representing 5.1 million shares, and $21 million in dividends.
    • Interest expense fell slightly to $42 million due to decreased undrawn fees on the company's revolving credit facility.
    • As noted last quarter, the company's Board approved a 10% increase to the company's regular quarterly dividend, from 11.375 to 12.5 cents per share. This increase was reflected for the first time in dividends paid to eligible shareholders in July.
    • Cash flow from operating activities was $125 million for the quarter and $225 million for the first six months.
    • Adjusted free cash flow was $131 million for the quarter and $230 million for the first six months.
    • The company is reaffirming its expectation of 2024-2025 two-year Adjusted free cash flow guidance range of $900 million-$1.1 billion.
    • Cash and cash equivalents totaled $446 million at the end of the second quarter. Net leverage finished the second quarter at 2.9x4.

    ___________________________________________

    3
    See Table 5 for details

    FULL-YEAR AND THIRD QUARTER 2024 OUTLOOK:

    Full-Year 2024 Key Guidance Metrics

     

     

     

     

     

    TEGNA is reaffirming its guidance metrics for the full year of 2024 and improving the effective tax rate

     

     

     

    2024/2025 Two-Year Adjusted FCF

     

    $900 million – 1.1 billion

    Net Leverage Ratio

     

    Below 3x at year end

    Corporate Expenses

     

    $40 – 45 million

    Depreciation

     

    $56 – 60 million

    Amortization

     

    $51 – 55 million

    Interest Expense

     

    $170 – 173 million

    Capital Expenditures

     

    $62 – 67 million

    Effective Tax Rate

     

    22.5 – 23.5%

    Third Quarter 2024 Key Guidance Metrics

     

    Reflects expectations relative to third quarter 2023 results

     

     

    Total company GAAP Revenue

    Up 9% to 12%

    Total Non-GAAP Operating Expenses

    Flat to down slightly

     

     

    CONFERENCE CALL

    TEGNA will host a conference call and webcast on Wednesday, August 7, 2024, to discuss the company's financial results and other business matters. The teleconference will begin at 10:00 a.m. Eastern Time and will be hosted by Dave Lougee, Chief Executive Officer, and Julie Heskett, Chief Financial Officer.

    The conference call will be webcast through the company's website, and is open to investors, the financial community, the media and other members of the public. To access the meeting by phone, please visit investors.TEGNA.com at least 10 minutes prior to the scheduled start time to access the links and register before the conference call begins. Once registered, phone participants will receive dial-in numbers and a unique PIN to seamlessly access the call.

    ________________________

    4 See Table 6 for details

    FORWARD-LOOKING STATEMENTS

    This communication includes forward-looking statements within the meaning of the "safe harbor" provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this communication, the words "believes," "estimates," "plans," "expects," "should," "could," "outlook," and "anticipates" and similar expressions as they relate to the company or its financial results are intended to identify forward-looking statements. Forward-looking statements in this communication may include, without limitation, statements regarding anticipated growth rates and the company's plans, objectives and expectations. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements, many of which are outside the company's control. These risks, uncertainties and other factors include, but are not limited to, risks and uncertainties related to: changes in the market price of the company's shares, general market conditions, constraints, volatility, or disruptions in the capital markets; the possibility that the company's capital allocation plan, including dividends, share repurchases, and/or strategic acquisitions, investments, and partnerships may not enhance long-term stockholder value; legal proceedings, judgments or settlements; the company's ability to re-price or renew subscribers; potential regulatory actions; changes in consumer behaviors and impacts on and modifications to TEGNA's operations and business relating thereto; and economic, competitive, governmental, technological and other factors and risks that may affect the company's operations or financial results, which are discussed in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements in this communication should be evaluated in light of these important risk factors. The company is not responsible for updating the information contained in this communication beyond the published date, or for changes made to this press release by wire services, Internet service providers or other media.

    Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the company. Each such statement speaks only as of the day it was made. The company undertakes no obligation to update or to revise any forward-looking statements.

    ADDITIONAL INFORMATION

    TEGNA Inc. (NYSE:TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TEGNA also owns leading multicast networks True Crime Network and Quest. TEGNA offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNA's OTT advertising service. For more information, visit www.TEGNA.com.

    CONSOLIDATED STATEMENTS OF INCOME

    TEGNA Inc.

    Unaudited, in thousands of dollars (except per share amounts)

     

    Table No. 1

     

     

    Quarters ended June 30,

     

     

    2024

     

     

    2023

     

     

    Change

     

     

     

     

     

     

     

     

     

     

    Revenues

    $

    710,363

     

     

    $

    731,506

     

     

     

    (3

    %)

     

     

     

     

     

     

     

     

     

    Operating expenses:

     

     

     

     

     

     

     

     

    Cost of revenues

     

    432,044

     

     

     

    430,528

     

     

     

    0

    %

    Business units - Selling, general and administrative expenses

     

    94,938

     

     

     

    97,231

     

     

     

    (2

    %)

    Corporate - General and administrative expenses

     

    12,685

     

     

     

    26,506

     

     

     

    (52

    %)

    Depreciation

     

    15,173

     

     

     

    14,987

     

     

     

    1

    %

    Amortization of intangible assets

     

    13,663

     

     

     

    13,296

     

     

     

    3

    %

    Asset impairment and other

     

    —

     

     

     

    3,359

     

     

    ***

     

    Merger termination fee

     

    —

     

     

     

    (136,000

    )

     

    ***

     

    Total

     

    568,503

     

     

     

    449,907

     

     

     

    26

    %

    Operating income

     

    141,860

     

     

     

    281,599

     

     

     

    (50

    %)

     

     

     

     

     

     

     

     

     

    Non-operating (expense) income:

     

     

     

     

     

     

     

     

    Interest expense

     

    (41,748

    )

     

     

    (42,797

    )

     

     

    (2

    %)

    Interest income

     

    5,873

     

     

     

    8,536

     

     

     

    (31

    %)

    Other non-operating items, net

     

    (2,749

    )

     

     

    (3,038

    )

     

     

    (10

    %)

    Total

     

    (38,624

    )

     

     

    (37,299

    )

     

     

    4

    %

     

     

     

     

     

     

     

     

     

    Income before income taxes

     

    103,236

     

     

     

    244,300

     

     

     

    (58

    %)

    Provision for income taxes

     

    21,207

     

     

     

    44,207

     

     

     

    (52

    %)

    Net income

     

    82,029

     

     

     

    200,093

     

     

     

    (59

    %)

    Net loss attributable to redeemable noncontrolling interest

     

    115

     

     

     

    12

     

     

    ***

     

    Net income attributable to TEGNA Inc.

    $

    82,144

     

     

    $

    200,105

     

     

     

    (59

    %)

     

     

     

     

     

     

     

     

     

    Earnings per share:

     

     

     

     

     

     

     

     

    Basic

    $

    0.48

     

     

    $

    0.92

     

     

     

    (48

    %)

    Diluted

    $

    0.48

     

     

    $

    0.92

     

     

     

    (48

    %)

     

     

     

     

     

     

     

     

     

    Weighted average number of common shares outstanding:

     

     

     

     

     

     

     

     

    Basic shares

     

    169,512

     

     

     

    217,830

     

     

     

    (22

    %)

    Diluted shares

     

    169,880

     

     

     

    217,979

     

     

     

    (22

    %)

     

    *** Not meaningful

     

    CONSOLIDATED STATEMENTS OF INCOME

    TEGNA Inc.

    Unaudited, in thousands of dollars (except per share amounts)

     

    Table No. 1 (continued)

     

     

    Six months ended June 30,

     

     

    2024

     

     

    2023

     

     

    Change

     

     

     

     

     

     

     

     

     

     

    Revenues

    $

    1,424,615

     

     

    $

    1,471,833

     

     

     

    (3

    %)

     

     

     

     

     

     

     

     

     

    Operating expenses:

     

     

     

     

     

     

     

     

    Cost of revenues

     

    862,611

     

     

     

    857,460

     

     

     

    1

    %

    Business units - Selling, general and administrative expenses

     

    197,198

     

     

     

    196,340

     

     

     

    0

    %

    Corporate - General and administrative expenses

     

    27,483

     

     

     

    38,606

     

     

     

    (29

    %)

    Depreciation

     

    29,483

     

     

     

    30,036

     

     

     

    (2

    %)

    Amortization of intangible assets

     

    27,323

     

     

     

    26,878

     

     

     

    2

    %

    Asset impairment and other

     

    1,097

     

     

     

    3,359

     

     

     

    (67

    %)

    Merger termination fee

     

    —

     

     

     

    (136,000

    )

     

    ***

     

    Total

     

    1,145,195

     

     

     

    1,016,679

     

     

     

    13

    %

    Operating income

     

    279,420

     

     

     

    455,154

     

     

     

    (39

    %)

     

     

     

     

     

     

     

     

     

    Non-operating (expense) income:

     

     

     

     

     

     

     

     

    Interest expense

     

    (84,116

    )

     

     

    (85,703

    )

     

     

    (2

    %)

    Interest income

     

    11,446

     

     

     

    16,109

     

     

     

    (29

    %)

    Other non-operating items, net

     

    147,009

     

     

     

    (5,437

    )

     

    ***

     

    Total

     

    74,339

     

     

     

    (75,031

    )

     

    ***

     

     

     

     

     

     

     

     

     

     

    Income before income taxes

     

    353,759

     

     

     

    380,123

     

     

     

    (7

    %)

    Provision for income taxes

     

    82,468

     

     

     

    76,026

     

     

     

    8

    %

    Net income

     

    271,291

     

     

     

    304,097

     

     

     

    (11

    %)

    Net loss attributable to redeemable noncontrolling interest

     

    413

     

     

     

    311

     

     

     

    33

    %

    Net income attributable to TEGNA Inc.

    $

    271,704

     

     

    $

    304,408

     

     

     

    (11

    %)

     

     

     

     

     

     

     

     

     

    Earnings per share:

     

     

     

     

     

     

     

     

    Basic

    $

    1.56

     

     

    $

    1.37

     

     

     

    14

    %

    Diluted

    $

    1.55

     

     

    $

    1.37

     

     

     

    13

    %

     

     

     

     

     

     

     

     

     

    Weighted average number of common shares outstanding:

     

     

     

     

     

     

     

     

    Basic shares

     

    173,668

     

     

     

    221,168

     

     

     

    (21

    %)

    Diluted shares

     

    174,158

     

     

     

    221,391

     

     

     

    (21

    %)

     

    *** Not meaningful

     

    REVENUE CATEGORIES

    TEGNA Inc.

    Unaudited, in thousands of dollars

     

    Table No. 2 

     

    Below is a detail of our primary sources of revenue:

     

    Quarters ended June 30,

     

    2024

     

     

    2023

     

     

    Change

     

     

     

     

     

     

     

     

    Subscription

    $

    367,025

     

     

    $

    396,126

     

     

    (7%)

    Advertising & Marketing Services

     

    300,977

     

     

     

    317,726

     

     

    (5%)

    Political

     

    31,643

     

     

     

    5,991

     

     

    ***

    Other

     

    10,718

     

     

     

    11,663

     

     

    (8%)

    Total revenues

    $

    710,363

     

     

    $

    731,506

     

     

    (3%)

     

    Six months ended June 30,

     

    2024

     

     

    2023

     

     

    Change

     

     

     

     

     

     

     

     

    Subscription

    $

    742,349

     

     

    $

    810,406

     

     

    (8%)

    Advertising & Marketing Services

     

    599,669

     

     

     

    625,571

     

     

    (4%)

    Political

     

    59,471

     

     

     

    11,282

     

     

    ***

    Other

     

    23,126

     

     

     

    24,574

     

     

    (6%)

    Total revenues

    $

    1,424,615

     

     

    $

    1,471,833

     

     

    (3%)

     

    *** Not meaningful

     

    USE OF NON-GAAP INFORMATION

    The company uses non-GAAP financial performance and liquidity measures to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the related GAAP measures, nor should they be considered superior to the related GAAP measures and should be read together with financial information presented on a GAAP basis. Also, our non-GAAP measures may not be comparable to similarly titled measures of other companies.

    Management and the company's Board of Directors (the "Board") regularly use Corporate–General and administrative expenses, Operating expenses, Operating income, Income before income taxes, Provision for income taxes, Net income attributable to TEGNA Inc., and Diluted earnings per share, each presented on a non-GAAP basis, for purposes of evaluating company performance. Management and the Board also use Adjusted EBITDA and Adjusted free cash flow to evaluate company performance and liquidity, respectively. The Leadership Development and Compensation Committee of our Board uses non-GAAP measures such as Adjusted EBITDA, non-GAAP net income, non-GAAP EPS, and Adjusted free cash flow to evaluate and compensate senior management. The Board uses Adjusted free cash flow in its periodic assessments of, among other things, repurchases of the company's common stock, the company's dividends, strategic opportunities and long-term debt retirement. The company, therefore, believes that each of the non-GAAP measures presented provides useful information to investors and other stakeholders by allowing them to view our business through the eyes of management and our Board, facilitating comparisons of results across historical periods and focus on the underlying ongoing operating performance of our business. The company also believes these non-GAAP measures are frequently used by investors, securities analysts and other interested parties in their evaluation of our business and other companies in the broadcast industry.

    The company discusses in this release non-GAAP financial performance and liquidity measures that exclude from its reported GAAP results the impact of "special items" consisting of asset impairment and other, M&A-related costs, Merger termination fee, retention costs, workforce restructuring, and a gain related to the sale of the company's investment in Broadcast Music Inc. ("BMI"). In addition, we have excluded an income tax special item associated with a tax benefit associated with previously disallowed transaction costs. The company believes that such expenses and gains are not indicative of normal, ongoing operations. While these items should not be disregarded in evaluation of our earnings or liquidity performance, it is useful to exclude such items when analyzing current results and trends compared to other periods as these items can vary significantly from period to period depending on specific underlying transactions or events that may occur. Therefore, while we may incur or recognize these types of expenses, charges, gains, payments and receipts in the future, the company believes that removing these items for purposes of calculating the non-GAAP financial measures provides investors with a more focused presentation of our ongoing operating performance.

    The company also discusses Adjusted EBITDA (with and without stock-based compensation expense), a non-GAAP financial performance measure that it believes offers a useful view of the overall operation of its businesses. The company defines Adjusted EBITDA as net income attributable to TEGNA before (1) net loss attributable to redeemable noncontrolling interest, (2) income taxes, (3) interest expense, (4) interest income, (5) other non-operating items, net, (6) M&A-related costs, (7) asset impairment and other, (8) workforce restructuring, (9) employee retention costs, (10) the Merger termination fee, (11) depreciation and (12) amortization of intangible assets. The company believes these adjustments facilitate company-to-company operating performance comparisons by removing potential differences caused by variations unrelated to operating performance, such as capital structures (interest expense), income taxes, and the age and book appreciation of property and equipment (and related depreciation expense). The most directly comparable GAAP financial measure to Adjusted EBITDA is Net income attributable to TEGNA. Users should consider the limitations of using Adjusted EBITDA, including the fact that this measure does not provide a complete measure of our operating performance. Adjusted EBITDA is not intended to purport to be an alternate to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. In particular, Adjusted EBITDA is not intended to be a measure of cash flow available for management's discretionary expenditures, as this measure does not consider certain cash requirements, such as working capital needs, capital expenditures, contractual commitments, interest payments, tax payments and other debt service requirements.

    This earnings release also discusses Adjusted free cash flow, a non-GAAP liquidity measure. The most directly comparable GAAP financial measure to Adjusted free cash flow is Net cash flow from operating activities. Starting in the second quarter of 2024, the company updated its definition of Adjusted free cash flow. Adjusted free cash flow is now calculated as net cash flow from operating activities less payments for purchases of property and equipment plus or minus special items. The company removes special items affecting cash flow from operating activities because we do not consider these items to be indicative of its underlying cash flow generation for the reporting period. Adjusted free cash flow is not intended to be a measure of residual cash available for management's discretionary use since it omits significant sources and uses of cash flow including mandatory debt repayments. The principal difference between the new definition and the former definition is the inclusion of cash flows driven by changes in certain working capital accounts (primarily accounts receivable, accounts payable and accrued expenses) which are now included. The company's 2024/2025 Two-Year Adjusted free cash flow guidance of $900 million to $1.1 billion remains the same.

    This earnings release also presents our net leverage ratio which includes Adjusted EBITDA (without stock-based compensation) as a component of the computation. Our net leverage ratio is a financial measure that is used by management to assess the borrowing capacity of the company and management believes it is useful to investors for the same reason. The company defines its Net Leverage Ratio as (a) net debt (total debt less cash and cash equivalents) as of the balance sheet date divided by (b) Average Annual Adjusted EBITDA for the trailing two-year period.

    The company is furnishing forward-looking guidance with respect to Adjusted free cash flow for the combined 2024-25 years, net leverage and corporate expenses for fiscal year 2024 and non-GAAP operating expenses for the third quarter of 2024. Our future GAAP financial results will include the impact of special items such as retention costs including stock-based compensation and cash payments, M&A-related costs, workforce restructuring, and asset impairment. The company believes that such expenses are not indicative of normal, ongoing operations. While these items should not be disregarded in evaluation of our earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods. Therefore, while we may incur or recognize these types of expenses in the future, the company believes that removing these items for purposes of calculating the non-GAAP basis financial measures provides investors with a more focused presentation of our ongoing operating performance.

    The company is not able to reconcile these amounts to their comparable GAAP financial measures without unreasonable efforts because certain information necessary to calculate such measures on a GAAP basis is unavailable, dependent on future events outside of our control and cannot be predicted. An example of such information is share-based compensation, which is impacted by future share price movement in the company's stock price and also dependent on future hiring and attrition. In addition, the company believes such reconciliations could imply a degree of precision that might be confusing or misleading to investors. The actual effect of the reconciling items that the company may exclude from these non-GAAP expense numbers, when determined, may be significant to the calculation of the comparable GAAP measures.

    NON-GAAP FINANCIAL INFORMATION

    TEGNA Inc.

    Unaudited, in thousands of dollars (except per share amounts)

     

    Table No. 3 

     

    Reconciliations of certain line items impacted by special items to the most directly comparable financial measure calculated and presented in accordance with GAAP on the company's Consolidated Statements of Income follow:

     

     

     

     

     

    Special Items

     

     

     

     

    Quarter ended June 30, 2024

     

    GAAP

    measure

     

     

    Retention costs

    - SBC

     

     

    Retention costs -

    Cash

     

     

    Workforce

    restructuring

     

     

    Non-GAAP

    measure

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Corporate - General and administrative expenses

     

    $

    12,685

     

     

    $

    (571

    )

     

    $

    (654

    )

     

    $

    (492

    )

     

    $

    10,968

     

    Operating expenses

     

     

    568,503

     

     

     

    (2,198

    )

     

     

    (1,003

    )

     

     

    (1,830

    )

     

     

    563,472

     

    Operating income

     

     

    141,860

     

     

     

    2,198

     

     

     

    1,003

     

     

     

    1,830

     

     

     

    146,891

     

    Income before income taxes

     

     

    103,236

     

     

     

    2,198

     

     

     

    1,003

     

     

     

    1,830

     

     

     

    108,267

     

    Provision for income taxes

     

     

    21,207

     

     

     

    362

     

     

     

    171

     

     

     

    445

     

     

     

    22,185

     

    Net income attributable to TEGNA Inc.

     

     

    82,144

     

     

     

    1,836

     

     

     

    832

     

     

     

    1,385

     

     

     

    86,197

     

    Earnings per share - diluted

     

    $

    0.48

     

     

    $

    0.01

     

     

    $

    —

     

     

    $

    0.01

     

     

    $

    0.50

     

     

     

     

     

     

     

    Special Items

     

     

     

     

    Quarter ended June 30, 2023

     

    GAAP

    measure

     

     

    M&A-related

    costs

     

     

    Merger

    termination

    fee

     

     

    Asset

    impairment

    and other

     

     

    Special

    tax item

     

     

    Non-GAAP

    measure

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Corporate - General and administrative expenses

     

    $

    26,506

     

     

    $

    (17,082

    )

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    9,424

     

    Operating expenses

     

     

    449,907

     

     

     

    (17,082

    )

     

     

    136,000

     

     

     

    (3,359

    )

     

     

    —

     

     

     

    565,466

     

    Operating income

     

     

    281,599

     

     

     

    17,082

     

     

     

    (136,000

    )

     

     

    3,359

     

     

     

    —

     

     

     

    166,040

     

    Income before income taxes

     

     

    244,300

     

     

     

    17,082

     

     

     

    (136,000

    )

     

     

    3,359

     

     

     

    —

     

     

     

    128,741

     

    Provision for income taxes

     

     

    44,207

     

     

     

    4,371

     

     

     

    (24,504

    )

     

     

    860

     

     

     

    6,443

     

     

     

    31,377

     

    Net income attributable to TEGNA Inc.

     

     

    200,105

     

     

     

    12,711

     

     

     

    (111,496

    )

     

     

    2,499

     

     

     

    (6,443

    )

     

     

    97,376

     

    Earnings per share - diluted (a)

     

    $

    0.92

     

     

    $

    0.06

     

     

    $

    (0.51

    )

     

    $

    0.01

     

     

    $

    (0.03

    )

     

    $

    0.44

     

     

    (a) Per share amounts do not sum due to rounding.

    NON-GAAP FINANCIAL INFORMATION

    TEGNA Inc.

    Unaudited, in thousands of dollars (except per share amounts)

     

    Table No. 3 (continued)

     

     

     

     

     

     

    Special Items

     

     

     

     

    Six months ended June 30, 2024

     

    GAAP

    measure

     

     

    Retention

    costs -

    SBC

     

     

    Retention

    costs -

    Cash

     

     

    M&A-

    related

    costs

     

     

    Workforce

    restructuring

     

     

    Asset

    impairment

    and other

     

     

    BMI sale

    gain

     

     

    Non-GAAP

    measure

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Corporate - General and administrative expenses

     

    $

    27,483

     

     

    $

    (1,323

    )

     

    $

    (875

    )

     

    $

    (2,290

    )

     

    $

    (603

    )

     

    $

    —

     

     

    $

    —

     

     

    $

    22,392

     

    Operating expenses

     

     

    1,145,195

     

     

     

    (5,091

    )

     

     

    (1,573

    )

     

     

    (2,290

    )

     

     

    (3,637

    )

     

     

    (1,097

    )

     

     

    —

     

     

     

    1,131,507

     

    Operating income

     

     

    279,420

     

     

     

    5,091

     

     

     

    1,573

     

     

     

    2,290

     

     

     

    3,637

     

     

     

    1,097

     

     

     

    —

     

     

     

    293,108

     

    Income before income taxes

     

     

    353,759

     

     

     

    5,091

     

     

     

    1,573

     

     

     

    2,290

     

     

     

    3,637

     

     

     

    1,097

     

     

     

    (152,867

    )

     

     

    214,580

     

    Provision for income taxes

     

     

    82,468

     

     

     

    793

     

     

     

    248

     

     

     

    593

     

     

     

    890

     

     

     

    284

     

     

     

    (36,621

    )

     

     

    48,655

     

    Net income attributable to TEGNA Inc.

     

     

    271,704

     

     

     

    4,298

     

     

     

    1,325

     

     

     

    1,697

     

     

     

    2,747

     

     

     

    813

     

     

     

    (116,246

    )

     

     

    166,338

     

    Earnings per share - diluted (a)

     

    $

    1.55

     

     

    $

    0.03

     

     

    $

    0.01

     

     

    $

    0.01

     

     

    $

    0.02

     

     

    $

    0.01

     

     

    $

    (0.67

    )

     

    $

    0.95

     

     

    (a) Per share amounts do not sum due to rounding.

     

     

     

     

     

    Special Items

     

     

     

     

    Six months ended June 30, 2023

     

    GAAP

    measure

     

     

    M&A-related

    costs

     

     

    Merger

    termination

    fee

     

     

    Asset

    impairment

    and other

     

     

    Special

    tax item

     

     

    Non-GAAP

    measure

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Corporate - General and administrative expenses

     

    $

    38,606

     

     

    $

    (19,848

    )

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    18,758

     

    Operating expenses

     

     

    1,016,679

     

     

     

    (19,848

    )

     

     

    136,000

     

     

     

    (3,359

    )

     

     

    —

     

     

     

    1,129,472

     

    Operating income

     

     

    455,154

     

     

     

    19,848

     

     

     

    (136,000

    )

     

     

    3,359

     

     

     

    —

     

     

     

    342,361

     

    Income before income taxes

     

     

    380,123

     

     

     

    19,848

     

     

     

    (136,000

    )

     

     

    3,359

     

     

     

    —

     

     

     

    267,330

     

    Provision for income taxes

     

     

    76,026

     

     

     

    4,552

     

     

     

    (24,504

    )

     

     

    860

     

     

     

    6,443

     

     

     

    63,377

     

    Net income attributable to TEGNA Inc.

     

     

    304,408

     

     

     

    15,296

     

     

     

    (111,496

    )

     

     

    2,499

     

     

     

    (6,443

    )

     

     

    204,264

     

    Earnings per share - diluted (a)

     

    $

    1.37

     

     

    $

    0.07

     

     

    $

    (0.50

    )

     

    $

    0.01

     

     

    $

    (0.03

    )

     

    $

    0.91

     

     

    (a) Per share amounts do not sum due to rounding.

    NON-GAAP FINANCIAL INFORMATION

    TEGNA Inc.

    Unaudited, in thousands of dollars

     

    Table No. 4 

     

    Reconciliations of Adjusted EBITDA to net income presented in accordance with GAAP on the company's Consolidated Statements of Income are presented below:

     

    Quarters ended June 30,

     

     

    2024

     

     

    2023

     

     

     

     

     

     

     

    Net income attributable to TEGNA Inc. (GAAP basis)

    $

    82,144

     

     

    $

    200,105

     

    Less: Net loss attributable to redeemable noncontrolling interest

     

    (115

    )

     

     

    (12

    )

    Plus: Provision for income taxes

     

    21,207

     

     

     

    44,207

     

    Plus: Interest expense

     

    41,748

     

     

     

    42,797

     

    Less: Interest income

     

    (5,873

    )

     

     

    (8,536

    )

    Plus: Other non-operating items, net

     

    2,749

     

     

     

    3,038

     

    Operating income (GAAP basis)

     

    141,860

     

     

     

    281,599

     

    Plus: M&A-related costs

     

    —

     

     

     

    17,082

     

    Plus: Asset impairment and other

     

    —

     

     

     

    3,359

     

    Plus: Workforce restructuring

     

    1,830

     

     

     

    —

     

    Plus: Retention costs - Employee stock-based compensation expenses

     

    2,198

     

     

     

    —

     

    Plus: Retention costs - Cash

     

    1,003

     

     

     

    —

     

    Less: Merger termination fee

     

    —

     

     

     

    (136,000

    )

    Adjusted operating income (non-GAAP basis)

     

    146,891

     

     

     

    166,040

     

    Plus: Depreciation

     

    15,173

     

     

     

    14,987

     

    Plus: Amortization of intangible assets

     

    13,663

     

     

     

    13,296

     

    Adjusted EBITDA

    $

    175,727

     

     

    $

    194,323

     

    Stock-based compensation expenses:

     

     

     

     

     

    Employee awards

     

    6,740

     

     

     

    5,157

     

    Company stock 401(k) match contributions

     

    4,787

     

     

     

    4,662

     

    Adjusted EBITDA before stock-based compensation costs

    $

    187,254

     

     

    $

    204,142

     

     

    Six months ended June 30,

     

     

    2024

     

     

    2023

     

     

     

     

     

     

     

    Net income attributable to TEGNA Inc. (GAAP basis)

    $

    271,704

     

     

    $

    304,408

     

    Less: Net loss attributable to redeemable noncontrolling interest

     

    (413

    )

     

     

    (311

    )

    Plus: Provision for income taxes

     

    82,468

     

     

     

    76,026

     

    Plus: Interest expense

     

    84,116

     

     

     

    85,703

     

    Less: Interest income

     

    (11,446

    )

     

     

    (16,109

    )

    (Less) Plus: Other non-operating items, net

     

    (147,009

    )

     

     

    5,437

     

    Operating income (GAAP basis)

     

    279,420

     

     

     

    455,154

     

    Plus: M&A-related costs

     

    2,290

     

     

     

    19,848

     

    Plus: Asset impairment and other

     

    1,097

     

     

     

    3,359

     

    Plus: Workforce restructuring

     

    3,637

     

     

     

    —

     

    Plus: Retention costs - Employee stock-based compensation expenses

     

    5,091

     

     

     

    —

     

    Plus: Retention costs - Cash

     

    1,573

     

     

     

    —

     

    Less: Merger termination fee

     

    —

     

     

     

    (136,000

    )

    Adjusted operating income (non-GAAP basis)

     

    293,108

     

     

     

    342,361

     

    Plus: Depreciation

     

    29,483

     

     

     

    30,036

     

    Plus: Amortization of intangible assets

     

    27,323

     

     

     

    26,878

     

    Adjusted EBITDA

    $

    349,914

     

     

    $

    399,275

     

    Stock-based compensation expenses:

     

     

     

     

     

    Employee awards

     

    14,980

     

     

     

    8,845

     

    Company stock 401(k) match contributions

     

    10,216

     

     

     

    10,226

     

    Adjusted EBITDA before stock-based compensation costs

    $

    375,110

     

     

    $

    418,346

     

    NON-GAAP FINANCIAL INFORMATION

    TEGNA Inc.

    Unaudited, in thousands of dollars

     

    Table No. 5

     

    Reconciliations of Adjusted free cash flow to net cash flow from operating activities presented in accordance with GAAP on the company's Consolidated Statements of Cash Flows are presented below:

     

     

    Period ending June 30, 2024

     

     

    Quarter

     

     

    Year-to-date

     

     

     

     

     

     

     

    Net cash flow from operating activities (GAAP basis)

    $

    124,779

     

     

    $

    225,159

     

     

     

     

     

     

     

    Less: Purchases of property and equipment

     

    (15,972

    )

     

     

    (20,883

    )

     

     

     

     

     

     

    Special items:

     

     

     

     

     

    M&A related costs

     

    356

     

     

     

    1,704

     

    Workforce restructuring

     

    1,023

     

     

     

    2,062

     

    Retention costs - cash

     

    1,650

     

     

     

    1,650

     

    Asset impairment and other

     

    —

     

     

     

    1,097

     

    Taxes on BMI gain

     

    18,800

     

     

     

    18,800

     

    Total Adjustments

     

    21,829

     

     

     

    25,313

     

     

     

     

     

     

     

    Adjusted free cash flow (non-GAAP basis)

    $

    130,636

     

     

    $

    229,589

     

    NON-GAAP FINANCIAL INFORMATION

    TEGNA Inc.

    Unaudited, in thousands of dollars

     

    Table No. 6 

     

    The following table reconciles long-term debt, net of current portion to Net debt.

     

    June 30, 2024

     

    Long-term debt, net of current portion

    $

    3,090,000

     

    Plus: Current portion of long-term debt

     

    —

     

    Less: Cash and cash equivalents

     

    (445,729

    )

    Net debt (numerator)

    $

    2,644,271

     

    The following table shows the calculation of the average annual Adjusted EBITDA before stock-based compensation over the trailing two-year period ("T2Y").

    Adjusted EBITDA before stock-based compensation:

     

     

    Six months ended June 30, 20241

    $

    375,110

     

    Plus: Year ended December 31, 20232

     

    781,562

     

    Plus: Year ended December 31, 20222

     

    1,181,045

     

    Less: Six months ended June 30, 20223

     

    (532,417

    )

    Combined T2Y

    $

    1,805,300

     

    Divided by

     

    2

     

    T2Y Adjusted EBITDA (denominator)

    $

    902,650

     

    The following table shows the calculation of the Net Leverage Ratio.

     

    June 30, 2024

     

    Net debt (numerator)

    $

    2,644,271

     

    T2Y Adjusted EBITDA (denominator)

    $

    902,650

     

    Net Leverage Ratio

     

    2.9

    x

    1 A non-GAAP measure detailed in Table 4.

    2 Refer to page 39 of the 2023 Form 10-K for reconciliations of 2023 and 2022 Adjusted EBITDA before stock-based compensation costs to net income attributable to TEGNA Inc.

    3 Refer to page 27 in our Q2 2022 Form 10-Q for a reconciliation of the first six months ended 2022 Adjusted EBITDA. Note that we did not present Adjusted EBITDA before stock-based compensation in our Q2 2022 10-Q. Our Adjusted EBITDA was $505,279 thousand while our stock-based compensation and company stock 401(k) contribution expenses were $17,209 thousand and $9,929 thousand, respectively, which sums to the amount shown above.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240806403969/en/

    Get the next $TGNA alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $TGNA

    DatePrice TargetRatingAnalyst
    12/19/2024$21.00 → $23.00Equal Weight → Overweight
    Wells Fargo
    12/6/2023$22.00 → $17.00Neutral
    JP Morgan
    5/5/2022$24.00Overweight → Equal Weight
    Wells Fargo
    4/13/2022Buy → Hold
    Argus
    9/22/2021Outperform → Mkt Perform
    Barrington Research
    More analyst ratings

    $TGNA
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • TEGNA Inc. Reports First Quarter 2025 Results and Provides Second Quarter Guidance

      Achieves first quarter key guidance metrics Reaffirms 2024/2025 two-year Adjusted Free Cash Flow guidance TYSONS, Va., May 08, 2025 (GLOBE NEWSWIRE) -- TEGNA Inc. (NYSE:TGNA) today announced financial results for the first quarter ended March 31, 2025. "We're making important progress on the key initiatives that are shaping TEGNA's future," said Mike Steib, CEO. "While the macro environment remains volatile, we're staying focused on execution, reinventing how we serve our local communities to maximize the full opportunity across both linear TV and digital. With industry-leading brands, top talent, and a strong balance sheet, we are well-positioned to win." FIRST QUARTER FINANCI

      5/8/25 7:30:23 AM ET
      $TGNA
      Broadcasting
      Industrials
    • Indiana Fever and WTHR announce extension of their multi-year broadcast agreement to deliver record number of games to fans

      TYSONS, Va. and INDIANAPOLIS, April 17, 2025 (GLOBE NEWSWIRE) -- The Indiana Fever and WTHR, the TEGNA owned NBC affiliate in Indianapolis, today announced a multi-year extension of their landmark distribution agreement to deliver more exciting basketball action to central Indiana fans than ever before. WTHR and WALV, TEGNA's MeTV affiliate, will air 18 games locally, giving fans across central Indiana unprecedented access to watch the Fever in action as they fight for a return to the WNBA playoffs. Last season, WTHR's coverage elevated Indiana Fever viewership to new heights as the team's local broadcast home, broadening the fan base beyond hardcore sports enthusiasts. Fever games on W

      4/17/25 9:00:43 AM ET
      $TGNA
      Broadcasting
      Industrials
    • Premion Expands Omnichannel and Ad Tech Capabilities to Drive Cross-Channel Performance and Fuel Next Growth Phase

      NEW YORK, April 15, 2025 (GLOBE NEWSWIRE) -- Premion, the leading premium CTV/OTT advertising solution for regional and local advertisers, today announced the launch of its expanded capabilities and new tools for advertisers to execute and optimize campaigns across channels. With the integration of Octillion, Premion has further strengthened its purpose-built local CTV platform and demand side platform (DSP) to drive full-funnel outcomes. Premion's DSP transforms local CTV advertising with a privacy-focused, cookieless platform that enhances audience targeting and campaign performance across channels, while a powerful device graph enables seamless identity resolution. Unified attribution

      4/15/25 8:00:52 AM ET
      $TGNA
      Broadcasting
      Industrials

    $TGNA
    Leadership Updates

    Live Leadership Updates

    See more
    • Local News Veteran Adrienne Roark Joins TEGNA as Chief Content Officer

      TYSONS, Va., Feb. 19, 2025 (GLOBE NEWSWIRE) -- TEGNA Inc. (NYSE:TGNA) announced today that news veteran Adrienne Roark has been named chief content officer reporting to CEO Mike Steib, effective March 31. With more than three decades of experience in news leadership, local TV station management and innovative content development, Roark brings her proven expertise to TEGNA. Roark joins TEGNA from CBS News and Stations, where she oversaw daily editorial content, managed CBS-owned stations in New York and Boston, launched weather across the network and led the group's data journalism team. Earlier, she oversaw the network's owned and operated stations in the East and Central U.S. Earlier, R

      2/19/25 1:13:48 PM ET
      $TGNA
      Broadcasting
      Industrials
    • TEGNA Names Scott Dempsey President and General Manager at WLTX in Columbia, South Carolina

      TYSONS, Va., Jan. 06, 2025 (GLOBE NEWSWIRE) -- TEGNA Inc. (NYSE:TGNA) today announced that Scott Dempsey has been named president and general manager at WLTX, TEGNA's CBS affiliate serving Columbia, South Carolina, effective today. In his role, Dempsey is responsible for overseeing the station's operations across all platforms, as well as driving results for advertisers.  Dempsey was vice president and general manager at WBTV, a market-leading CBS affiliate in Charlotte, North Carolina, from 2015-2022. During his tenure, the station achieved the top position in the market for the first time in thirty-five years, maintaining a consistent ranking within the top two in Charlotte. During his

      1/6/25 9:00:32 AM ET
      $TGNA
      Broadcasting
      Industrials
    • TEGNA Appoints Dhanusha Sivajee Chief Experience Officer

      TEGNA Inc. (NYSE:TGNA) today announced the appointment of Dhanusha Sivajee as senior vice president and chief experience officer, effective immediately. Sivajee will serve as a member of the company's leadership team, reporting to CEO Mike Steib. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241111455136/en/Dhanusha Sivajee will oversee TEGNA's research, communications, brand, performance and lifecycle marketing, and the development of consumer digital products. (Photo: Business Wire) Sivajee will lead the end-to-end journey of local community members across TEGNA's award-winning portfolio of linear, connected TV and digital ex

      11/11/24 8:15:00 AM ET
      $TGNA
      Broadcasting
      Industrials

    $TGNA
    SEC Filings

    See more

    $TGNA
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 10-Q filed by TEGNA Inc

      10-Q - TEGNA INC (0000039899) (Filer)

      5/8/25 4:17:33 PM ET
      $TGNA
      Broadcasting
      Industrials
    • TEGNA Inc filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - TEGNA INC (0000039899) (Filer)

      5/8/25 8:09:52 AM ET
      $TGNA
      Broadcasting
      Industrials
    • SEC Form DEF 14A filed by TEGNA Inc

      DEF 14A - TEGNA INC (0000039899) (Filer)

      4/8/25 4:18:36 PM ET
      $TGNA
      Broadcasting
      Industrials
    • Director West Denmark converted options into 8,281 shares (SEC Form 4)

      4 - TEGNA INC (0000039899) (Issuer)

      5/5/25 4:55:12 PM ET
      $TGNA
      Broadcasting
      Industrials
    • Director Shapiro Neal converted options into 11,327 shares, increasing direct ownership by 35% to 43,373 units (SEC Form 4)

      4 - TEGNA INC (0000039899) (Issuer)

      5/5/25 4:55:18 PM ET
      $TGNA
      Broadcasting
      Industrials
    • Director Grimes Karen H. converted options into 11,327 shares, increasing direct ownership by 33% to 45,315 units (SEC Form 4)

      4 - TEGNA INC (0000039899) (Issuer)

      5/5/25 4:55:11 PM ET
      $TGNA
      Broadcasting
      Industrials

    $TGNA
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by TEGNA Inc

      SC 13G/A - TEGNA INC (0000039899) (Subject)

      11/12/24 5:55:50 PM ET
      $TGNA
      Broadcasting
      Industrials
    • Amendment: SEC Form SC 13G/A filed by TEGNA Inc

      SC 13G/A - TEGNA INC (0000039899) (Subject)

      11/4/24 1:55:27 PM ET
      $TGNA
      Broadcasting
      Industrials
    • Amendment: SEC Form SC 13G/A filed by TEGNA Inc

      SC 13G/A - TEGNA INC (0000039899) (Subject)

      10/31/24 11:54:59 AM ET
      $TGNA
      Broadcasting
      Industrials

    $TGNA
    Financials

    Live finance-specific insights

    See more
    • TEGNA Inc. Reports First Quarter 2025 Results and Provides Second Quarter Guidance

      Achieves first quarter key guidance metrics Reaffirms 2024/2025 two-year Adjusted Free Cash Flow guidance TYSONS, Va., May 08, 2025 (GLOBE NEWSWIRE) -- TEGNA Inc. (NYSE:TGNA) today announced financial results for the first quarter ended March 31, 2025. "We're making important progress on the key initiatives that are shaping TEGNA's future," said Mike Steib, CEO. "While the macro environment remains volatile, we're staying focused on execution, reinventing how we serve our local communities to maximize the full opportunity across both linear TV and digital. With industry-leading brands, top talent, and a strong balance sheet, we are well-positioned to win." FIRST QUARTER FINANCI

      5/8/25 7:30:23 AM ET
      $TGNA
      Broadcasting
      Industrials
    • TEGNA to Host First Quarter 2025 Earnings Conference Call on Thursday, May 8, 2025

      TYSONS, Va., March 27, 2025 (GLOBE NEWSWIRE) -- TEGNA Inc. (NYSE:TGNA) will host a conference call to discuss its first quarter 2025 earnings results on Thursday, May 8, 2025, at 11 a.m. (ET). The conference call will be webcast through the company's website, and is open to investors, the financial community, the media and other members of the public. To access the meeting by phone, please visit investors.TEGNA.com at least 10 minutes prior to the scheduled start time to access the links and register before the conference call begins. Once registered, phone participants will receive dial-in numbers and a unique PIN to seamlessly access the call. TEGNA's earnings announcement will be rel

      3/27/25 8:00:46 AM ET
      $TGNA
      Broadcasting
      Industrials
    • TEGNA Inc. Reports Fourth Quarter and Full-Year 2024 Results and Provides First Quarter 2025 Guidance

      Achieves fourth quarter key guidance metrics and full-year 2024 capital return commitment Reaffirms 2024/2025 two-year Adjusted Free Cash Flow guidance TYSONS, Va., Feb. 27, 2025 (GLOBE NEWSWIRE) -- TEGNA Inc. (NYSE:TGNA) today announced financial results for the fourth quarter and full-year 2024 ended December 31, 2024. "As TEGNA enters its next chapter, we are reinventing how we create and monetize content to capture the full opportunity in both linear TV and digital," said Mike Steib, CEO. "With rapid advancements in technology and a shifting regulatory landscape, we see tremendous potential in broadcasting. Backed by industry-leading brands, top talent, and a strong balance sheet, w

      2/27/25 7:30:16 AM ET
      $TGNA
      Broadcasting
      Industrials

    $TGNA
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • TEGNA upgraded by Wells Fargo with a new price target

      Wells Fargo upgraded TEGNA from Equal Weight to Overweight and set a new price target of $23.00 from $21.00 previously

      12/19/24 8:30:11 AM ET
      $TGNA
      Broadcasting
      Industrials
    • JP Morgan resumed coverage on TEGNA with a new price target

      JP Morgan resumed coverage of TEGNA with a rating of Neutral and set a new price target of $17.00 from $22.00 previously

      12/6/23 8:22:34 AM ET
      $TGNA
      Broadcasting
      Industrials
    • TEGNA downgraded by Wells Fargo with a new price target

      Wells Fargo downgraded TEGNA from Overweight to Equal Weight and set a new price target of $24.00

      5/5/22 6:22:08 AM ET
      $TGNA
      Broadcasting
      Industrials