NASDAQ$IHRT
iHeartMedia Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended September 30, 2024.
iHeartMedia, Inc. reported Q3 2024 consolidated revenue of $1,008 million, up 5.8%, and consolidated Adjusted EBITDA of $205 million. The company announced debt exchange transactions and cost efficiency actions expected to generate $150 million of annual cost savings in 2025.
- Entered into a transaction support agreement with debt holders to exchange $4.1 billion of existing debt, extend maturities by three years, and keep consolidated annual cash interest essentially flat.
- Announced cost programs expected to generate $150 million of annual cost savings in 2025.
- Q3 Revenue of $1,008 million, up 5.8%; excluding Q3 Political Revenue, Q3 Revenue up 2.0%.
- Consolidated Adjusted EBITDA of $205 million, compared to $204 million in Q3 2023.
Headline financials
Revenue & EPS history
iHeartMedia · Revenue · Quarterly
$1.01B
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 Q4 Consolidated Revenue to increase in the high-single digits and Q4 Consolidated Adjusted EBITDA to be approximately $290 million, up approximately 39%. Full Year 2024 Consolidated Revenue is expected to increase in the mid-single digits and Consolidated Adjusted EBITDA to be approximately $750 million, up approximately 8%.
Tailwinds
- Q4 Consolidated Revenue expected to increase in the high-single digits
- Full Year 2024 Consolidated Revenue expected to increase in the mid-single digits
- Q4 Consolidated Adjusted EBITDA expected to be approximately $290 million, up approximately 39%
- Full Year 2024 Consolidated Adjusted EBITDA expected to be approximately $750 million, up approximately 8%
- Full Year 2025 Consolidated Adjusted EBITDA expected to be approximately $770 million, up approximately 3% in a non-political year
Headwinds
- Full Year 2025 Consolidated Revenue expected to be approximately flat in a non-political year
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 Q3 2024
-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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