Townsquare Media will release third quarter 2019 financial results before the market opens on Tuesday, November 5.
The news comes as TSQ’s first month of Q4 has outperformed much of the stock’s performance of the previous three quarters.
Therefore, Q3 could be another winning quarter for the owner of 321 radio stations and, as it readily points out, more than 330 local websites. That’s because, in Townsquare’s view, it is not “a radio company” but a “radio, digital media, entertainment and digital marketing solutions company” focused on small and mid-sized U.S. markets such as Albany, N.Y., and Fort Collins, Colo.
In August, Townsquare EVP/CFO Stu Rosenstein predicted net revenue to finish between $109 million and $111 million, representing an approximate 3% to 5% increase over the prior year on a pro forma basis, or 5% to 6% excluding political revenue.
He added that Townsquare expects adjusted EBITDA to be between $27 million and $28 million, which will be flat on the low end of the range and up 4% on the high end of the range compared to the third quarter of 2018.
Excluding political revenue, this would represent growth in the mid to high single digits.
In Q3 2018, Townsquare Media recorded $2.3 million of political revenue. In Q3 of this year, it is anticipating approximately $500,000 of political revenue, a decline of nearly $2 million.