Cumulus Media Q3 revenue down 1.8% to $233.5M; net income $8.5M vs $27.4M (prior year included $20.8M land sale gain)

CUMULUS MEDIA INC

2022-Q3 EPS reported $0.81 revenue$702,236,000

Revenue $233.5M (-1.8% YoY); net income $8.5M (down 68.9%, but prior year had $20.8M land sale gain).
Adjusted EBITDA $46.6M (+1.6% YoY) as cost reductions offset revenue decline.
Digital revenue grew 5%, led by digital marketing services +12% and streaming +11%.
Reduced net leverage from 4.7x to 3.7x; repurchased 415K shares for $3.9M at avg $9.43.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CUMULUS MEDIA INC reported the nine months ended September 30, 2022 results: revenue $ 702,236, net income $ 16,289, EPS Diluted income (loss) per share $ 0.81.

Period: the nine months ended September 30, 2022
Revenue: $ 702,236
Net income: $ 16,289
EPS: Diluted income (loss) per share $ 0.81
Result: reported results

Exact text from the filing

As Reported Nine Months Ended September 30, 2022 Nine Months ended September 30, 2021 % Change Net revenue $ 702,236 $ 664,163 5.7 % Net income (loss) $ 16,289 $ (360) N/A Adjusted EBITDA (1) $ 123,265 $ 91,617 34.5 % Basic income (loss) per share $ 0.82 $ (0.02) N/A Diluted income (loss) per share $ 0.81 $ (0.02) N/A

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CUMULUS MEDIA INC reported the three months ended September 30, 2022 results: revenue $ 233,463, net income $ 8,540, EPS Diluted income per share $ 0.45.

Period: the three months ended September 30, 2022
Revenue: $ 233,463
Net income: $ 8,540
EPS: Diluted income per share $ 0.45
Result: reported results

Exact text from the filing

As Reported Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 % Change Net revenue $ 233,463 $ 237,716 (1.8) % Net income $ 8,540 $ 27,448 (68.9) % Adjusted EBITDA (1) $ 46,567 $ 45,828 1.6 % Basic income per share $ 0.45 $ 1.34 N/A Diluted income per share $ 0.45 $ 1.32 N/A

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36 earnings releases filed in the last 30 days. Browse all earnings releases →

CUMULUS MEDIA INC filing history →

Source: SEC EDGAR

accession 0001058623-22-000156

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