Cumulus Media has finalized the date and time of its first-quarter 2020 earnings call. Here are the details, along with RBR+TVBR’s analysis of the audio media company’s stock. In short, the company’s Wall Street performance has improved in just one week’s time.
Cumulus’ Q1 2020 earnings call will be held at 4:30pm Eastern on Monday, May 11.
The results will be distributed roughly 30 minutes prior to the call, the first for Frank López-Balboa, who joined Cumulus as EVP/CFO on March 23 — just as the COVID-19 pandemic led to shelter-at-home edicts across the globe.
López-Balboa had been EVP/CFO of Univision Communications until his March 2018 departure. He took the job following a 22-year run at Goldman Sachs, where he was a managing director.
Cumulus’ Q1 ’20 report comes as CMLS has enjoyed a bit of an acceleration since April 22. On that date, shares were as low as $3.50 per share. Today, Cumulus stock is trading at $4.46, after finishing April 27 at $4.51 per share.
It’s a move in the right direction for a stock that, like that of many radio broadcasting companies, has been pummeled by the novel coronavirus’ economic wrath on America. Three months ago, CMLS was trading at $14.48.
That said, Cumulus’ share price is much better than that of contemporaries such as Entercom, which has drawn millions of dollars to shore up its cash availability while taking actions designed to prevent a hostile takeover and kick members of the Field family out of the driver’s seat. As of 2:15pm Eastern Tuesday (4/28), ETM was trading at $1.29 a share — up 6 cents.
