The audio media company’s shares have enjoyed a slow, steady rebound since sinking to $3.35 at the height of the COVID-19 pandemic some 11 months ago.
Now, Cumulus Media will reveal its fourth quarter and full-year 2020 results in exactly two weeks.
The company led by CEO Mary Berner will host a conference call on Tuesday, February 23 at 8:30am Eastern to discuss those results.
But, there won’t be much time for analysts and investors to digest the results prior to the call. That’s because a press release containing a summary of the Cumulus results will be issued approximately 30 minutes before the call starts.
What can those who own CMLS or wish to buy it anticipate? Berner on the Cumulus Q3 earnings call said that as the company moved into the fourth quarter, “positive momentum in bookings, driven largely by political,” was being seen.
Still, overall improvement across all categories was a factor — even though pacing was down in the mid-teens on a year-to-year basis.
“While we hope for continued improvement, our performance will remain highly sensitive to the shape and pace of external events,” Berner said.
CMLS finished Tuesday’s trading at $10.34, up 2.8% from Monday. That pushes Cumulus shares ever-closer to the all-important $11 mark – last seen nearly one year ago.