12:52 PM EDT, 10/28/2024 (MT Newswires) -- Corus Entertainment fourth quarter results missed and the advertising outlook continues to look bleak with advertising market challenges and reprogramming risks, notes BMO.

Quarterly revenue fell 21% (5% below expectations) while EBITDA was -9% (-0.5% below). Television advertising revenue declined -16%. Adj. EPS was -$0.02 vs. -$0.07 Street.

BMO notes that the company has attained short-term covenant relief, but debt repayment remains a problem. The near-term outlook remains very uncertain.

Corus is rated Market Perform.

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