Audacy Q1 adjusted EBITDA up 173% to $9.6M; debt reduction plan awaits FCC approval

AUDACY, INC.

2024-Q1 EPS reported -$0.39 revenue$261,806,000

Net revenues $261.8M (+1% YoY); operating loss improved to $0.4M from $12.2M.
Adjusted EBITDA $9.6M, up 173% vs $3.5M in Q1 2023; cash operating expenses down 2%.
Digital revenue grew 10% YoY while Radio revenue declined 2%.
Court approved pre-packaged Plan of Reorganization reducing debt by 80%; FCC approval pending.
Q2 pacing low single digits overall; April was up high single digits.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AUDACY, INC. reported quarter ended March 31, 2024 results: revenue $261.8 million.

Period: quarter ended March 31, 2024
Revenue: $261.8 million
Result: reported results

Exact text from the filing

Net revenues for the quarter were $261.8 million, up 1% compared to $259.6 million in the first quarter of 2023

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Source: SEC EDGAR

accession 0001193125-24-135266

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