Cumulus Media, the audio content creation and distribution company that in addition to owning AM and FM radio stations is the parent of Westwood One, will have the honors of being the first broadcast media company with publicly traded stock to reveal its second quarter earnings results.
Company CEO Mary Berner and CFO Frank López-Balboa will participate in an earnings call for shareholders and the Wall Street community on August 2 at 8:30am Eastern.
That gives interested parties all but 30 minutes to review the results for themselves, as they will be released by Cumulus at 8am.
It’s been a tough 2024 for Cumulus on the Nasdaq, with shares down 62.4% year-to-date. At the close of Wednesday’s trading, “CMLS” was at $2 per share; the 52-week high is $5.60.
What can investors expect to hear from Cumulus? Two analysts track the company, and they’ve created an EPS range of -$0.54 to -$0.43 — a deeper loss from the -$0.06 seen last year despite reported increases in political ad spend at various media.
A 1.3% decline in revenue is forecast by the two analysts, with a projected range between $205.8 million and $206.2 million for Q2.
