Business report

Here’s when iHeartMedia releases its Q3 report

Curious how the country’s leading audio content creator and distributor fared in the three months ending September 30?

You will have your answer on the first Thursday of November.

After the closing bell on November 3, iHeartMedia will publish its financial results for the third quarter of 2022.

The CEO of the company, Bob Pitman, and CFO/COO Rich Bressler will be joined by other iHeartMedia C-Suite executives for an investor and analyst conference call scheduled for 4:30 p.m. EST, giving the world about 30 minutes to digest the results before the call.

Pittman and Bressler will discuss iHeartMedia’s financial results and business outlook.

What can investors and analysts expect from iHeart? Some eight analysts currently cover the company, and the consensus estimate is for iHeart’s third-quarter EPS of $0.20, based on a range of $0.13 to $0.26. This reflects a strong gain from $0.02 in Q3 2022 and suggests that iHeart is on track for a great quarter – perhaps standing out from its peers in the radio industry who are currently forecasting a much darker quarter.

This includes Beasley Media Group. As RBR+TVBR reported Monday, only two analysts follow Beasley. For the third quarter, they expect a loss of earnings per share of -$0.03 or -$0.04. Revenue is expected to be between $63.05 and $63.52 million.

By comparison, iHeartMedia has a consensus estimate for Q3 22 earnings of $975.44 million.

With Allianz Asset Management GmbH holding an 18.74% stake in iHeart and Global Media & Entertainment Investments Ltd. with a 14.99% stake, as of June 29, iHeart shares at 2:30 p.m. EST were priced at $8.93.

That’s not so bad, considering the depressed equities seen on Wall Street in recent months. And, that’s considerably better than the price of $6.89 seen at the closing bell on July 11.

In Q2, iHeartMedia had an exceptional three-month period, with an adjusted EBITDA on the rise thanks to a booming operating result. This helped the company achieve a net profit after a net loss of $32.29 million in the second quarter of 2021.