Thursday, August 04, 2022
Entravision Communications (EVC)
Demonstrating Good Operating Momentum
Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A solid Q2. The company met our upwardly revised Q2 expectations with strong 24% revenue growth and 26% adj. EBITDA growth. The adj. EBITDA growth was notable given that it was achieved in spite of the absence of $5.4 million in revenue from three TV station affiliations that it no longer has.
Digital continues its impressive growth. Digital revenues increased a strong 35% in Q2. While the company is comping against its previous acquisitions, it is expecting to reflect favorable double digit revenue growth. Management indicated that Digital is pacing up 24% in Q3, well above industry averages near 8%. …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
