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CMLS

Cumulus Media

$14.15 /

-0.06 (-0.42%)

08:09
02/21/20
02/21
08:09
02/21/20
08:09

Cumulus Media reports Q4 EPS 8c, may not compare to consensus 48c

Reports Q4 revenue $285.5M, consensus $282.51M. Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, "I am very proud of the Company's 2019 results. On a same station basis, our team has now delivered the second year in a row of revenue growth and, excluding the impact of political, the third year in a row of Adjusted EBITDA growth. This performance was driven in large part by the industry-leading growth of our digital businesses and active cost management across our platforms. Additionally, we made strong progress against our financial goals during the year, paying down $220 million of debt with cash from operations and highly accretive divestitures, reducing net leverage to 4.7x. This year's results reflect the success of our consistent focus on key strategies to create value for our investors. Despite a choppy environment and an expected political headwind, fourth quarter revenue finished in-line with the pacing we shared during our last earnings call, and, with some slight favorability on expenses, we delivered Adjusted EBITDA that was somewhat better than we had indicated. As we move into the new year, we are further expanding our delivery of compelling audio experiences and digital offerings that connect and support our advertisers and listeners. And, we are optimistic about 2020 and our continuing ability to drive strong operating and financial performance while aggressively reducing net leverage to below 4.0x."

  • 21

    Feb

CMLS Cumulus Media
$14.15 /

-0.06 (-0.42%)

05/07/19 B. Riley FBR
Cumulus Media initiated with a Neutral at B. Riley FBR

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