Tegna Q4 Adj EPS $0.43 Misses $0.47 Estimate, Sales $725.85M Miss $750.82M Estimate
Portfolio Pulse from Benzinga Newsdesk
Tegna Inc. (NYSE:TGNA) reported Q4 adjusted earnings per share (EPS) of $0.43, missing the consensus estimate of $0.47 by 8.51%. This represents a 56.12% decrease from the previous year's earnings of $0.98 per share. Quarterly sales were $725.85 million, falling short of the $750.82 million estimate by 3.33% and marking a 20.86% decrease from the previous year's $917.13 million.
February 29, 2024 | 1:02 pm
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NEGATIVE IMPACT
Tegna Inc. reported a significant miss in both Q4 adjusted EPS and sales, with a notable year-over-year decrease in earnings and revenue.
The miss in both earnings per share and sales estimates, coupled with the significant year-over-year decreases, suggests a negative short-term impact on TGNA's stock price. Investors typically react unfavorably to earnings misses and declining revenue, which could lead to a decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100