NASDAQ$IHRT
iHeartMedia Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported an increase in revenue and operating income compared to the same period last year.
iHeartMedia reported strong Q2 2022 results, with revenue up 11% year-over-year to $954 million and GAAP operating income increasing to $83 million from $28 million in Q2 2021. The company's Digital Audio Group continued its strong growth trajectory, while the Multiplatform Group maintained its momentum. iHeartMedia remains focused on free cash flow generation, adjusted EBITDA margin expansion, and reducing net leverage.
- Q2 Revenue of $954 million, up 11% YoY; in line with guidance of up approximately 10%-14%.
- GAAP Operating income of $83 million vs. $28 million in Q2 2021.
- Consolidated Adjusted EBITDA of $237 million increased 29% YoY; in line with guidance of $225 million to $245 million.
- Digital Audio Group Revenue of $253 million up 28% YoY.
Headline financials
Revenue & EPS history
iHeartMedia · Revenue · Quarterly
$954M
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 expects Q3 Consolidated Revenue to increase by approximately 3%-7% YoY and Q3 Consolidated Adjusted EBITDA expected to be $240 million to $255 million. The company expects to make significant progress in 2022 towards the previously announced Net Debt to Adjusted EBITDA target of approximately 4x.
Tailwinds
- Q3 Consolidated Revenue expected to increase by approximately 3%-7% YoY
- July Consolidated Revenue up approximately 4% YoY
- Q3 Consolidated Adjusted EBITDA expected to be $240 million to $255 million
- Expect to make significant progress in 2022 towards the previously announced Net Debt to Adjusted EBITDA (net leverage) target of approximately 4x
- The company’s resilient capital structure have substantially expanded the Company’s financial flexibility and liquidity while positioning the Company for further margin improvement as advertising demand continues to normalize over time.
Headwinds
- The company is exposed to risks related to weak or uncertain global economic conditions
- The company is exposed to the impact of the COVID-19 pandemic
- The company is exposed to increased competition
- The company is exposed to dependence upon the performance of on-air talent, program hosts and management
- The company is exposed to fluctuations in operating costs
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 Q2 2022
-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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