Friday, May 08, 2026
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q1 results in line with expectations. The company reported Q1 revenue of $517 million, down 1.4% year-over-year, while reporting a loss attributable to shareholders of $(18) million, or $(0.20) per share. Figure #1 Q1 2026 Results highlights that our revenue estimate was $518.6 million. Importantly, Local Media trends remained favorable, benefiting from strong sports advertising demand, the Winter Olympics, and the Super Bowl.
Local Media remains a bright spot. Adjusted combined Local Media revenue increased 5.8% to $331 million, while core advertising revenue increased a healthy 7% to $137 million. Segment profit improved to $43.7 million from $32.3 million in the prior-year period despite modest expense growth.
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