iHeartMedia Expects Q3 Revenue Growth Of Mid-Single Digits Vs $915.98M Est, FY24 Revenue Growth Of Mid-Single Digits Vs $3.88B Est
Portfolio Pulse from Benzinga Newsdesk
iHeartMedia expects Q3 revenue growth in the mid-single digits compared to $915.98M estimate and FY24 revenue growth in the mid-single digits compared to $3.88B estimate. Q3 Adjusted EBITDA is expected to be $200M to $220M, and FY24 Adjusted EBITDA is expected to be $760M to $800M. The company remains committed to a long-term target of approximately 4x Net Debt to Adjusted EBITDA.
August 08, 2024 | 12:08 pm
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iHeartMedia expects Q3 and FY24 revenue growth in the mid-single digits, with Q3 Adjusted EBITDA projected at $200M-$220M and FY24 Adjusted EBITDA at $760M-$800M. The company remains committed to a long-term net leverage target of approximately 4x Net Debt to Adjusted EBITDA.
The positive revenue and EBITDA projections for Q3 and FY24 indicate strong financial performance, which is likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100