Entravision Revenue Up, Income Down For Fourth Quarter 2022

Q4 Results

ENTRAVISION COMMUNICATIONS CORP. net revenues jumped 36% year-over-year for fourth quarter 2021 to $233.9 million, boosted by the addition of digital revenue from the company's acquisition of a majority interest in CISNEROS INTERACTIVE and the acquisition of MEDIADONUTS and 365 DIGITAL, partly offset by the loss of $10.4 million in political advertising, but net income plummeted 83% to $3.9 million (5 cents/share), with increased costs of doing business from the new acquisitions figuring in.

“2021 was a transformational year for ENTRAVISION, with revenue and free cash flow reaching record levels,” said Chairman/CEO WALTER ULLOA. “Our growth for the fourth quarter and full year 2021 was largely driven by the expansion of our digital business, which comprised 73% of our net revenue. Core television and audio also contributed to our overall strength during the year as we maintained our exceptional talent, programming and ratings. In addition, we saw great advancements in profitability. Full year consolidated adjusted EBITDA of $88.0 million improved 46% over 2020, demonstrating our growth and continued expense management.

“I am very pleased with the continued transformation of ENTRAVISION’s business. Through both organic growth and strategic acquisitions we have become a leading global advertising solutions, media and technology company, serving over 3,000 clients each month in over 30 countries. We connect brands and advertisers with consumers in primarily emerging growth markets around the world and are excited about this enormous opportunity. I believe we have a talented, experienced and energetic team of professionals around the world with the expertise and resources to continue to grow ENTRAVISION’s business into the future."

The company's board also declared a quarterly cash dividend  of 2.5 cents/share, payable MARCH 31st to shareholders of record as of MARCH 16th. The dividend follows the approval of an up to $20 million stock buyback program.

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