Thursday, August 6, 2020
Tribune Publishing Company (TPCO)
Are The Shares Too Cheap To Ignore?
Tribune Publishing Co is a print and online media company that publishes various newspapers and websites. It creates and distribute content across its media portfolio, offering integrated marketing, media, and business services to consumers and advertisers, including digital solutions and advertising opportunities. The company manages its business as two distinct segments, M and X. Segment M is comprised of the company’s media groups excluding their digital revenues and related digital expenses, except digital subscription revenues when bundled with a print subscription. Segment X includes the company’s digital revenues and related digital expenses from local Tribune websites, third party websites, mobile applications, digital only subscriptions, Tribune Content Agency and BestReviews.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overachieves Q2 expectations. Q2 revenues of $183.1 million was slightly better than our $182.4 million estimate. Strong cost cutting actions allowed it to significantly overachieve our cash flow estimate, as measured by adjusted EBITDA, $18.8 million versus our $7.1 million estimate.
Q3 guidance better than expected. Management’s Q3 revenue guide of $188 million to $193 million is much better than our $181 million estimate. The prospective revenue decline is in line with other traditional media companies and illustrates the strength of its Digital businesses. The Q3 cash flow guide is …
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