secwatch.observer — SEC 8-K summary
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Issuer:     TEGNA INC (—)
CIK:        0000039899
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0000950170-24-055092
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TEGNA Q1: non-GAAP EPS $0.45, revenue $714M; dividend raised 10%; FCF guidance reaffirmed
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- Total company revenue $714M (down 4% YoY); subscription revenue $375M (down 9% YoY) due to temporary disruption and subscriber declines.
- GAAP net income $190M includes $116M gain from sale of BMI interest; non-GAAP net income $80M; Adjusted EBITDA $174M (down 15% YoY).
- Board increased quarterly dividend 10% to $0.125/share, payable July 1 to holders of record June 7, 2024.
- Returned over $100M to shareholders in Q1 ($82M buybacks, $20M dividends); on track to return ~$350M in 2024.
- Reaffirmed full-year guidance and 2024-2025 two-year adjusted FCF range of $900M-$1.1B; Q2 revenue expected down low-to-mid single digits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39899/000095017024055092/0000950170-24-055092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39899/000095017024055092/tgna-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-055092

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