Entravision Communications Cp Stock Price, News & Analysis

Entravision (NYSE: EVC) announced a new $275 million credit facility on March 17, 2023, replacing its previous facility from November 30, 2017. The facility includes a $200 million term loan A and a $75 million revolving credit line, led by Bank of America, Wells Fargo, and J.P. Morgan Chase. According to Interim CEO Chris Young, this move showcases the company’s financial strength amidst market volatility and enhances their balance sheet flexibility. The funds will support working capital needs, acquisitions, and corporate purposes. Further details can be found in their Current Report on Form 8-K.

Entravision Communications Corporation (NYSE: EVC) reported record financial results for Q4 and full year 2022, revealing a net revenue of $296.3 million, up 27% year-over-year, while annual revenue reached $956.2 million, marking a 26% increase. The company achieved record adjusted EBITDA figures but reported a net loss of $1.6 million for Q4, a significant decline from the previous year's net income of $3.9 million. Operating cash flow plummeted by 93%, and free cash flow decreased by 37%. Despite challenges, Entravision raised its quarterly dividend to $0.05 per share, reflecting a return to pre-pandemic levels. The company continues to strengthen its digital segment through strategic investments and partnerships.

Entravision (NYSE: EVC), a global advertising and media solutions company, is set to release its fourth quarter and full year 2022 financial results after market close on March 9, 2023. A conference call will be held at 5:00 p.m. ET to discuss these results. Interested participants can dial (844) 836-8739 in the U.S. or (412) 317-5440 internationally to access the call. A replay will be available until March 23, 2023. Entravision operates across digital, television, and audio sectors, with the digital segment being the largest revenue source, including programmatic ad purchasing and mobile performance solutions.