Thursday, August 4, 2022

Entravision Reports 24% Revenue Surge

Entravision Communications Corporation today announced financial results for the three- and six-month periods ended June 30, 2022

➤Second Quarter 2022 Highlights

  • Record second quarter revenue
  • Net revenue up 24% over the prior-year quarter
  • Net income attributable to common stockholders up 8% over the prior-year quarter
  • Consolidated adjusted EBITDA up 26% over the prior-year quarter
  • Operating cash flow down 54% over the prior-year quarter
  • Free cash flow up 15% over the prior-year quarter
  • Quarterly cash dividend of $0.025 per share
  • Repurchased $4.1 million in shares during the second quarter

Walter Ulloa
“The second quarter marked yet another impressive performance for Entravision, with net revenues totaling $221.7 million, up 24% versus the prior year quarter. On a year to date basis, revenues increased even more significantly and were up 28% as compared to the first half of 2021,” said Walter Ulloa, Chairman and Chief Executive Officer.

“Strength during the quarter was largely driven by the growth of our digital segment, where revenues improved 34% year-over-year. Our audio segment also contributed to the quarterly revenue increase. Of particular note, political ad spend was very strong during the second quarter, positioning us well in political advertising revenue for the remainder of the year, and further highlights the growing importance of the Hispanic voter in both local and national elections.”

Ulloa continued, “Entravision is well positioned for continued growth. Our strong balance sheet and exceptional global team of industry-leading digital media and sales professionals provide us with the key components to succeed. At the same time, our continued focus on expense management will help drive our EBITDA, free cash flow and ability to provide consistent returns to shareholders.”

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