ENTRAVISION COMMUNICATIONS CORP Q3 FY2024 earnings call

• In media, significant investments in news production: doubled news provision, expanded to morning, midday, etc., in markets, with expanded news operation profitable in first full quarter (2Q) and profitability improved in 3Q. Also invested in political sales, focused on 5 critical races, political revenue higher than 2022 but below ambitious expectations, increased Spanish language media allocation in 5 races, and ongoing civic engagement efforts. - In Advertising, Technology and Services, invested in Smadex and Adwake, both growing faster than industry rates and profitable.

The company has two operating segments. The Media segment had third quarter revenue of $59.8 million, up 23% compared to Q3 2023. Operating profit was $11.7 million, up 19% y-o-y, with an operating margin of 20% similar to Q3 2023. Q4 Media segment revenue is pacing +28% y-o-y. The Advertising, Technology and Services segment had third quarter revenue of $37.4 million, up 30% y-o-y. Operating margin was 5% compared to 3% in Q3 2023, and Q4 revenue is pacing +30% y-o-y.

• Media segment Q4 revenue pacing +28% y-o-y. - Advertising, Technology and Services segment Q4 revenue pacing +30% y-o-y. - Board approved $0.05 dividend per share for Q4 2024, payable on December 31 to stockholders of record as of December 16.

Forward-looking statements are subject to risks and uncertainties; refer to Entravision's SEC filings for a list of risks and uncertainties that could impact actual results.