Meredith Corp. is already into the fourth quarter of its fiscal 2020, and as such its full-year numbers will likely look a bit stronger than those companies that opt to use a calendar year rather than celebrating New Year’s Day on July 1.
What does Meredith’s third quarter look like? We’ll find out early Thursday (5/14).
That’s when the fiscal Q3 report card will be released, ahead of an 8:30am Eastern conference call for Wall Street analysts.
While Meredith is widely known for its female-friendly online and glossy brands such as PEOPLE and Better Homes & Gardens, Des Moines-based Meredith also has a local media division headed by Patrick McCreery that is comprised of 17 television stations.
Meredith, like many companies, initiated temporary salary reductions in the wake of COVID-19 ad revenue slowdowns. It impacted some 60% of employees.
What can investors expect on Thursday morning? “Given market volatility and material declines in equity prices, the company expects to record material non-cash impairment charges related to certain indefinite-lived intangible assets, including goodwill, trademarks and FCC broadcast licenses, as well as real estate lease assets,” the company said April 20.
