Iheartmedia Stock Earnings Reports

iHeart reported Q1 2026 consolidated revenue of $884 million, up 9.6% year-over-year and in line with guidance. Adjusted EBITDA was $93 million, slightly below prior guidance (~$100M) largely due to timing of noncash co-marketing expenses and softer March advertising. Key positives: Digital Audio Group (DAG) grew revenue 18% to $327M with podcast revenue up 26.9% to $147M (podcasting remains highly profitable and ~50% of podcast sales are local). Company reaffirmed full-year adjusted EBITDA guidance of $800M and free cash flow guidance of $200M. Management announced an incremental $50M of annualized cost savings (in addition to $100M already disclosed) to begin in H2 2026, and expects minimal cash taxes from 2026–2028 due to tax code changes, which should preserve ~$150M–$200M of cash over that period. Multiplatform Group revenue was up 4.3% but its adjusted EBITDA declined to $47M (from $70M) — management expects to return this group to EBITDA growth via programmatic expansion, integrated sales, share gains in radio TAM, and the strength of radio audiences. Company expects programmatic revenue of roughly $200M in 2026 (≈50% growth vs. 2025) and is working with major DSPs to enable broadcast inventory programmatic buying. Balance sheet: net debt ~$4.7B, cash ~$135M, total liquidity ~$495M, net leverage ~6.9x at quarter end; management expects net leverage in the mid-5s by year-end and plans to pay down ABL draws during 2026. Q2 outlook: adjusted EBITDA $140M–$160M; consolidated revenue up low single digits; DAG revenue ~+10% (podcast up low 20s). Management reiterated that Q1 is seasonally the weakest quarter and that political revenue (expected to be meaningful) and cost savings are embedded in full-year guidance.