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TEGNA (TGNA) Tops Q4 Earnings and Revenues Estimates

Zacks Equity Research
Updated

TEGNA Inc. TGNA reported fourth-quarter 2017 (ended Dec 31, 2017) earnings per share of 32 cents (on an adjusted basis), beating the Zacks Consensus Estimate of 31 cents.

How Was the Estimate Revision Trend?

Investors should note that the earnings estimate revisions for TEGNA depicted an optimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings increase 3.3% over the last 90 days.

The company also has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 6.02%.

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TEGNA Inc. Price and EPS Surprise

 

TEGNA Inc. Price and EPS Surprise | TEGNA Inc. Quote

Revenues Higher Than Expected

TEGNA recorded revenues of $490.3 million which outperformed the Zacks Consensus Estimate of $488.9 million. However, revenues compared unfavorably with the year-ago figure of $546.9 million.

Key Stats to Note: In the fourth-quarter 2017, TEGNA reported a one-time deferred tax benefit of $221 million, from the new tax law passed. Buyout of Midwest Television's broadcasting stations, sale of CareerBuilder and spin-off of its Cars.com, boosted TEGNA's Q4 results.

Zacks Rank: Currently, TEGNA has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

Check back later for our full write up on this TEGNA earnings report later!

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Zacks Investment Research