The fourth quarter and full-year earnings from audio content creation and distribution company Cumulus Media, parent of national radio entity Westwood One, are being made public as the sun rises on Thursday.
An 8:30am Eastern earnings call hosted by CEO Mary Berner is on the calendar. What’s the forecasts from analysts?
At present, three analysts track Cumulus, and the consensus Earnings Per Share for the three-month period ending December 31, 2022, is $0.38. That compares to year-ago EPS of $0.84.
The revenue estimate for Cumulus is $240.27 million.
What is the Q4 pacing for Cumulus? Berner shared on the company’s third quarter earnings call that local spot and digital continued to be better than national. But, she added that Political will be slightly below 2018 performance at the end of the year. As such, inclusive of political, Q4 pacing is for decreases in the low single-digit range.
The financial results come as Cumulus Media shares declined by 10.4% between mid-January and mid-February 2023, yet are ripe for a turnaround, Zacks Equity Research notes.
Using a Relative Strength Index, Zacks found that heavy selling of CMLS could be in the process of exhausting itself, leading to a rebound in share value.
The most recent analyst ratings on CMLS come from B. Riley. In October 2022, it maintained a “Buy” Rating on the issue. That didn’t help Cumulus, however, with shares dipping $1 in value on average since then.
Today, CMLS is trading at a 52-week low and at its worst levels since the COVID-19 impacted period of February-November 2020.
