Buckle up for a busy August 8. The nation’s No. 1 owner of broadcast radio stations has announced that it will host a pre-market second quarter earnings call for analysts, investors and debtholders — ahead of Q2 earnings releases for two big broadcast TV ownership groups.
The 8:30am Eastern earnings call for iHeartMedia will see CEO Bob Pittman, COO/CFO Rich Bressler and other company executives discuss the company’s financial results and business outlook.
The company’s Q1 2024 earnings call was nothing short of disastrous, with no analysts asking questions at the conclusion of prepared remarks as the company decided to hold its call after Townsquare Media previously announced it would host its second quarter earnings call at the exact same time.
For shareholders concerned about iHeart’s stock performance, the summer months have put “IHRT” on a hot streak. At the Closing Bell on Thursday, iHeartMedia shares were priced at $1.60, up 3.9% to continue an uptrend that started in late May, after “IHRT” dipped below the all-important $1 threshold.
Still, iHeartMedia shares are off by 40% year-to-date and the Q2 results could be particularly pivotal for the company. Five analysts predicted a much-reduced loss, with negative earnings per share coming in between -$0.34 and -$0.29, Yahoo! Finance reports.
The consensus estimate on revenue is $915.98 million, based on the five analysts polled by Yahoo! Finance.
Following iHeart’s Q2 earnings call, Nexstar Media Group, owner of WGN Radio, NewsNation, broadcast TV stations and the controlling entity of The CW Network, will discuss its second quarter results in a conference call scheduled for 10am Eastern.
Then, at 11am Eastern, Gray Television will host its own Q2 earnings call.
