Movers and SHAKERS
Tribune Publishing Company (TPCO)
Did The Virus Accelerate Its Digital Transformation?
Tribune Publishing Co is a print and online media company that publishes various newspapers and websites. It creates and distribute content across its media portfolio, offering integrated marketing, media, and business services to consumers and advertisers, including digital solutions and advertising opportunities. The company manages its business as two distinct segments, M and X. Segment M is comprised of the company's media groups excluding their digital revenues and related digital expenses, except digital subscription revenues when bundled with a print subscription. Segment X includes the company's digital revenues and related digital expenses from local Tribune websites, third party websites, mobile applications, digital only subscriptions, Tribune Content Agency and BestReviews.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First quarter preview. We believe that Q1 will be roughly in line with original estimates, with the impact of the mitigation efforts of the CoronaVirus felt late in the quarter. We anticipate $11.3 million in adj. EBITDA, which is very near our original estimate of $12.1 million. The company took aggressive action as developments unfolded.
Q2 is expected to be cash flow positive. While print advertising likely will take a big hit, there are favorable trends in both digital and print subscriptions and in Best Reviews. We estimate Q2 revenue to be $183.4 million and cash flow, as measured by...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.