Monday, May 13, 2019
Salem Media (SALM)
Revenue Pacings Appear To Improve.
Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
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- First quarter comes in as expected. First quarter 2019 revenues and cash flow (Adj. EBITDA) of $60.5 million and $7.6 million, respectively, were in line with our expectations of $61.0 million and $7.3 million, respectively.
- Second quarter revenue trends improve. Following favorable management guidance for the 2Q19, we are upwardly revising our revenue estimate and maintaining our second quarter cash flow estimate. We are raising our Q2 revenue estimates from $64.8 million to $65.9 million, and maintaining our adjusted EBITDA estimate at $11.2 milli…
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