Entravision Communications (EVC) – Weathering The Economic Storm Nicely


Friday, May 05, 2023

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Q1 results. The company reported quarterly revenue of $239 million, 4.4% better than our estimate of $229 million. The quarter was driven by robust digital revenue growth of 28%, notably, Latin America and Asia grew revenues by 15% and 35%, respectively. Adj. EBITDA in the quarter was $13 million, slightly less than our estimate of $13.5 million, attributed to an increase in variable expenses from digital revenue.

Positive Q2 pacing outlook. Management indicated that its legacy broadcast businesses are pacing down (TV down 9.5% and Radio down roughly 5%), but its Digital revenues are pacing up 25%. In total, Q2 total company revenues are pacing up a strong 19%, indicating that the company is performing nicely in spite of economic headwinds. Second half revenue should benefit from an influx of high margin Political advertising. 


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Entravision Communications (EVC) – Its Digital Businesses On A Roll


Friday, March 10, 2023

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Strong Q4 results. The company reported quarterly revenue of $296.3 million, up 27% from the prior year period, surpassing our estimate of $265.4 million by 11.7%. Adj. EBITDA of $36.5 million increased 11% year over year and beat our estimate of $34.8 million by 5.1%. The quarter was driven by strong digital revenue growth of $52.6 million, up 30% year-over-year.

Capital allocation. The company announced a 100% increase in its quarterly cash dividend, from $0.025 per share to $0.05 per share. Given its favorable cash position of $ $110.7 million and robust free cash flow generation of $63.3 million in 2022, we expect the company to seek additional accretive acquisitions and comfortably pay the dividend. Notably, management highlighted a favorable pipeline of potential targets.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Entravision Communications (EVC) – Loses Its Visionary


Wednesday, January 04, 2023

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Founder & CEO, Walter Ulloa passes. The company announced that founding CEO and Chairman of the Board of Directors, Walter Ulloa, died on December 31, 2022, of a sudden heart attack. The board appointed CFO Chris Young as interim CEO while it begins its search for a new CEO.

Legacy of dynamic leadership. Mr. Ulloa served as chairman and CEO since cofounding the company in 1996. He led the company’s expansion as a Spanish language broadcaster and oversaw its more recent transition to a digital media company with a global presence.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.