Entercom Communications will report its 2019 fourth quarter financial results before the market opens on Tuesday, February 25.
The broadcast media company, which owns the Cadence 13 podcasting entity and is the parent of the Radio.com streaming app, will host a conference call at 10am Eastern that morning to review the results and what it terms “recent progress against its strategic initiatives.”
What can investors expect from Entercom?
CFO Rich Schmaeling revealed during the company’s third quarter earnings call that, ex-political, Q4 net revenue is expected to grow by 2%-4%. Overall, Q4 revenue could be down 1%, or up 1%. But, Entercom’s podcasting business will be at a break-even point in Q4, and will grow rapidly in 2020, Schmaeling said.
This will help Entercom in reducing its leverage to 4x EBITDA by the end of 2020, he added.
Entercom opens Tuesday’s trading at $4.41, unchanged from Friday’s close.
