NASDAQ$IHRT
iHeartMedia Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
iHeartMedia's financial performance was impacted by the COVID-19 pandemic, with revenue declining in March after strong performance in the first two months of the year. The company focused on cost-saving initiatives and maintained a strong liquidity position.
iHeartMedia reported a revenue decrease of 1.9% year-over-year to $780.6 million, impacted by the COVID-19 pandemic, particularly in March. Digital revenue increased by 22.2%, driven by an 80% increase in podcasting revenue. The company reported an operating loss of $1,730.8 million, primarily due to non-cash impairment charges, and an adjusted EBITDA of $140.3 million, down 10.6% year-over-year. iHeartMedia is implementing cost-saving measures and maintains a strong liquidity position with a cash balance of $646.8 million.
- Total revenue decreased by 1.9% year-over-year to $780.6 million, influenced by the COVID-19 pandemic.
- Digital revenue grew by 22.2% year-over-year, with podcasting revenue increasing by 80%.
- GAAP Operating loss was $1,730.8 million, mainly due to non-cash impairment charges.
- Adjusted EBITDA decreased by 10.6% year-over-year to $140.3 million.
Headline financials
Revenue & EPS history
iHeartMedia · Revenue · Quarterly
$781M
Revenue by segment
iHeartMedia · $887M total across 3 segments · Q1 2026
- Multiplatform Group$493M—55.6%
- Digital Audio Group$327M—36.9%
- Audio & Media Services$66.6M—7.5%
Forward guidance
iHeartMedia is focused on expanding its financial flexibility and ensuring sufficient liquidity to operate effectively during the economic downturn. The company anticipates benefits from cost-saving initiatives and expects to capitalize on the eventual recovery in advertising demand.
Tailwinds
- The Company believes its previously announced modernization initiatives and other cost saving actions - in combination with the Company’s resilient capital structure - will substantially expand the Company’s financial flexibility
- Provide sufficient liquidity to operate effectively even in an extended period of economic weakness
- Position the Company for solid growth when advertising demand returns to normal levels.
- The Company expects to continue to make key investments in its strategic initiatives related to Smart Audio and Digital, including podcasting.
- The Company also expects that certain provisions of The CARES Act will partially offset the negative impact of COVID-19 on its 2020 free cash flow and is estimating a reduction in tax-related cash payments in 2020 of approximately $100 million.
Headwinds
- The Company’s results for the first quarter of 2020 were significantly and negatively impacted by the COVID-19 pandemic.
- Revenue from Sponsorship and Events also decreased by $10.4 million, primarily as a result of the postponement or cancellations of events in response to the COVID-19 pandemic.
- March revenue declined sharply primarily as a result of a decrease in broadcast radio advertising spend.
- Adjusted EBITDA was negatively impacted by lower revenue caused by the COVID-19 pandemic.
- To the extent decreases in our accounts receivable result in the borrowing base decreasing to an amount below the amount drawn, we may be required to make a partial repayment of amounts outstanding under our ABL Facility.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2020
-4.5%
Avg return
Earnings day
-5.9%
Avg return
5 days after
-2.2%
Avg return
30 days after
30%
8 / 27 earnings
Positive
+40.2%
Q3 2024
Best reaction
-39.8%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.8% | -15.8% | -31.5% | |
| Q4 2025 | -5.5% | +4.5% | +1.6% | |
| Q3 2025 | -5.3% | -10.9% | +11.6% | |
| Q1 2025 | -4.0% | -3.9% | +24.0% | |
| Q4 2024 | -15.3% | -27.8% | -21.5% | |
| Q3 2024 | +40.2% | +37.4% | +50.0% | |
| Q2 2024 | -7.0% | -7.0% | +2.8% | |
| Q1 2024 | -39.8% | -41.7% | -42.1% | |
| Q4 2023 | -0.4% | -15.0% | -7.9% | |
| Q3 2023 | -22.7% | -19.2% | +1.9% | |
| Q2 2023 | -20.3% | -24.6% | -21.7% | |
| Q1 2023 | -2.5% | -18.4% | -31.0% | |
| Q4 2022 | -21.4% | -25.2% | -47.4% | |
| Q3 2022 | +2.7% | -7.7% | +0.1% | |
| Q2 2022 | -2.8% | -3.6% | -1.3% | |
| Q1 2022 | -16.8% | -24.9% | -31.5% | |
| Q4 2021 | +0.3% | +7.6% | -3.2% | |
| Q3 2021 | +3.6% | +7.5% | -0.6% | |
| Q2 2021 | -15.5% | -16.2% | -3.5% | |
| Q1 2021 | +13.1% | +12.8% | +17.9% | |
| Q4 2020 | -3.0% | +8.3% | +18.1% | |
| Q3 2020 | +9.6% | +14.2% | +39.5% | |
| Q2 2020 | -6.5% | +12.2% | +7.0% | |
| Q1 2020 | +5.7% | -3.3% | +60.3% | |
| Q4 2019 | -5.1% | -7.6% | -56.4% | |
| Q3 2019 | +2.2% | +10.5% | -1.6% | |
| Q2 2019 | -1.6% | -1.6% | +7.4% | |
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