Urban One Inc (UONE) Q3 2024 Earnings Call Highlights: Navigating Revenue Declines and ...

GuruFocus.com11-13

Consolidated Net Revenue: Down 6.3% year over year to approximately $110.4 million. Radio Broadcasting Segment Revenue: $39.7 million, a decrease of 1.1% year over year. Reach Media Segment Revenue: $...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUrban One Inc (UONE) Q3 2024 Earnings Call Highlights: Navigating Revenue Declines and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/urban-one-inc-uone-q3-010027097.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Consolidated Net Revenue: Down 6.3% year over year to approximately $110.4 million.\nRadio Broadcasting Segment Revenue: $39.7 million, a decrease of 1.1% year over year.\nReach Media Segment Revenue: $...</p>\n\n<a href=\"https://finance.yahoo.com/news/urban-one-inc-uone-q3-010027097.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UONEK","symbol_name":"Urban One Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/urban-one-inc-uone-q3-010027097.html","article_id":"2483395091","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Sm4SMlLPTo.o8.5jQ0HINA--~B/aD01MDA7dz01MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/6c6318ae6c5f41a3d712b8f2d3992e82"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483395091","pubTimestamp":1731459627,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Consolidated Net Revenue: Down 6.3% year over year to approximately $110.4 million.Radio Broadcasting Segment Revenue: $39.7 million, a decrease of 1.1% year over year.Reach Media Segment Revenue: $10.2 million, down 8.2% from the prior year.Cable Television Segment Revenue: $40.7 million, a decrease of 13%.Net Loss: Approximately $31.8 million or $0.68 per share.Operating Expenses: Increased to approximately $87.4 million, up 3.5% from the prior year.Interest Expense: Decreased to approximately $11.6 million from $14 million last year.Cash Balance: Ending unrestricted cash was $115 million.Capital Expenditures: Approximately $1.6 million for the quarter.GuruFocus has detected 2 Warning Sign with UONE.Operating expenses increased by 3.5% year over year, driven by higher costs in various segments including radio and digital.Q: How did the radio broadcasting segment perform in Q3 2024?","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"UONEK":"Urban One Inc","UONE":"Urban One"},"translate_title":"Urban One Inc(UONE)2024年第三季度收益看涨期权亮点：应对收入下降和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UONE":1,"UONEK":1},"content_text":"Consolidated Net Revenue: Down 6.3% year over year to approximately $110.4 million.\nRadio Broadcasting Segment Revenue: $39.7 million, a decrease of 1.1% year over year.\nReach Media Segment Revenue: $10.2 million, down 8.2% from the prior year.\nDigital Segment Revenue: Flat at $20.4 million.\nCable Television Segment Revenue: $40.7 million, a decrease of 13%.\nConsolidated Adjusted EBITDA: $25.4 million, down 26.7%.\nNet Loss: Approximately $31.8 million or $0.68 per share.\nOperating Expenses: Increased to approximately $87.4 million, up 3.5% from the prior year.\nInterest Expense: Decreased to approximately $11.6 million from $14 million last year.\nCash Balance: Ending unrestricted cash was $115 million.\nTotal Gross Debt: Approximately $600 million.\nNet Debt: Approximately $485 million.\nNet Leverage Ratio: 4.68 times.\nCapital Expenditures: Approximately $1.6 million for the quarter.\n\n\nWarning! GuruFocus has detected 2 Warning Sign with UONE.\n\nRelease Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nUrban One Inc (NASDAQ:UONE) successfully repurchased $14.5 million of its outstanding bonds at 75% of their value, contributing to debt reduction.\nThe company forecasts a year-end cash balance of $140 million, indicating strong liquidity management.\nAdjusted EBITDA for the reach media segment increased to $3.7 million from $3.4 million last year, showing growth in this area.\nInterest expense decreased to $11.6 million from $14 million last year, reflecting the effectiveness of the company's debt reduction strategy.\nNet loss per share improved to $0.68 from $1.20 in the previous year, indicating a reduction in overall losses.\n\n Negative Points \n\nConsolidated net revenues decreased by 6.3% year over year, indicating a decline in overall business performance.\nThe cable TV segment experienced a significant revenue decrease of 13%, with advertising revenue down by 13.3%.\nOperating expenses increased by 3.5% year over year, driven by higher costs in various segments including radio and digital.\nThe company recorded $46.8 million in noncash impairments for broadcasting licenses and the TV One trade name, reflecting challenges in these areas.\nNet revenue for the radio broadcasting segment decreased by 1.1% year over year, with a more significant decline of 3.6% on a same-station basis.\n\n Q & A Highlights \nQ: Can you provide an overview of Urban One's financial performance for Q3 2024? A: Alfred Liggins, CEO, stated that Urban One experienced advertising headwinds in Q3, leading to a decrease in consolidated net revenues by 6.3% year over year, totaling approximately $110.4 million. The company repurchased $14.5 million of outstanding bonds and expects Q4 revenues to be flat due to robust political spending. The year-end EBITDA guidance was adjusted from $110 million to a range of $102 million to $105 million.\nQ: How did the radio broadcasting segment perform in Q3 2024? A: Peter Thompson, CFO, reported that net revenue for the radio broadcasting segment was $39.7 million, a decrease of 1.1% year over year. Excluding political revenue, the segment saw a decline of 4.8% year over year. Local advertising sales were down 4.7%, while national advertising sales decreased by 6.2%.\nQ: What were the results for the digital segment in Q3 2024? A: The digital segment's net revenues were flat at $20.4 million. While direct national sales were down due to decreased advertiser demand, connected TV and broadcast revenue showed growth. Adjusted EBITDA for the digital segment decreased by 13.5% to $6.4 million.\nQ: Can you elaborate on the performance of the cable television segment? A: The cable television segment recognized approximately $40.7 million in revenue, a decrease of 13%. Advertising revenue was down 13.3%, with delivery erosion impacting rates by approximately $4.7 million. Cable TV affiliate revenue decreased by 12.8% due to subscriber churn, which is trending at about 11% per annum.\nQ: What were the key factors affecting operating expenses in Q3 2024? A: Operating expenses increased by 3.5% to approximately $87.4 million. This was primarily due to higher expenses in the Houston radio market following an acquisition, increased third-party professional fees, and cloud-based software licenses. The digital segment saw a 2.4% increase in operating expenses due to third-party cost of sales and traffic acquisition costs.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483395091"}