Overview

* iHeartMedia Q3 revenue down 1.1% (Excluding Q3 PoliticalRevenue, Q3Revenueup 2.8%), beats analyst expectations

* Adjusted EBITDA for Q3 beats consensus, remaining flat year-over-year

* Company reports GAAP operating loss due to $209 mln non-cash impairment charges

Outlook

* iHeartMedia expects Q4 consolidated revenue to decline low-single digits

* Q4 Consolidated Revenue excluding the impact of Political expected to increase in the mid-single digits

* iHeartMedia projects Q4 Adjusted EBITDA between $200 mln and $240 mln

Result Drivers

* DIGITAL AUDIO GROWTH - Digital Audio Group revenue up 13.5% driven by increased demand for digital and podcast advertising

* MULTIPLATFORM DECLINE - Multiplatform Group revenue down 4.6% due to lower political revenues and decreased broadcast advertising

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $997 mln $980.05

Revenue mln (4

Analysts

)

Q3 Beat $205 mln $200.47

Adjusted mln (4

EBITDA Analysts

)

Q3 Free -$33 mln

Cash

Flow

Q3 -$116

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the broadcasting peer group is "buy."

* Wall Street's median 12-month price target for iHeartMedia Inc ( IHRT ) is $2.13, about 117.9% below its November 7 closing price of $4.63

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)