Entravision Reports 23 Percent Revenue Surge

Entravision Communications Corporation, a leading global advertising solutions, media and technology company, today announced financial results for the three- and six-month periods ended June 30, 2023.

Second Quarter 2023 Highlights

• Record quarterly advertising revenue
• Net revenue up 23% over the prior-year quarter
• Net loss attributable to common stockholders of $2.0 million compared to net income attributable to common stockholders of $8.5 million in the prior-year quarter
• Consolidated EBITDA down 37% compared to the prior-year quarter
• Operating cash flow up 7% over the prior-year quarter
• Free cash flow down 89% compared to the prior-year quarter\
• Digital revenue led the way with a 32% jump to $229.9 million, boosted by acquisitions, 
• Audio off 9% to $13.5 million
• Television down 8% to $29.9 million.

“We delivered another strong quarter at Entravision with record quarterly revenue of $273.4 million, increasing 23% year-over-year,” said Chris Young, Chief Financial Officer. “While elevated operating expenses led to a decline in adjusted EBITDA, we remain focused on managing expenses and leveraging our strong balance sheet to ensure we are well-positioned to grow in the current macroeconomic environment. We were also excited to welcome Michael Christenson as our new CEO at the beginning of July. We look forward to continuing to drive growth under his leadership."

Quarterly Cash Dividend: The Company announced today that its Board of Directors approved a quarterly cash dividend to shareholders of $0.05 per share on the Company's Class A and Class U common stock, in an aggregate amount of $4.4 million. The quarterly dividend will be payable on September 29, 2023 to shareholders of record as of the close of business on September 15, 2023, and the common stock will trade ex-dividend on September 14, 2023. The Company currently anticipates that future cash dividends will be paid on a quarterly basis; however, any decision to pay future cash dividends will be subject to approval by the Board.