Thursday, May 14, 2026
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q1 results largely in line with expectations. The company reported Q1 revenue of $517 million, down 1.4% year-over-year, while reporting a loss attributable to shareholders of $(18) million, or $(0.20) per share. Importantly, Local Media trends remained among the strongest in the industry, driven by sports advertising demand tied to the Winter Olympics, Super Bowl, and expanding NHL partnerships.
Local Media continues to outperform peers. Adjusted combined Local Media revenue increased 5.8% to $331 million, while core advertising revenue increased a healthy 7% to $137 million. Segment profit improved to $43.7 million from $32.3 million in the prior-year period despite modest expense growth, reflecting favorable operating leverage and strong advertiser demand.
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*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.
