Entravision Q4 Revs Up 36% to $233.8M, Declares Dividend

RADIO ONLINE | Thursday, March 3, 2022 | 4:10pm CT

Entravision

Entravision Communications Corp. reported fourth quarter net revenue grew 36% to $233.8 million from $171.6 million in 2020. Consolidated adjusted EBITDA was up 1% to $32.8 million from $32.6 million, while operating cash flow was down 70%. Free cash flow climbed 8% to $20.8 million from $28.6 million. The company posted a net income of $3.9 million (5 cents per diluted share) as compared to $29.3 million (24 cents) in the year-ago period.

"2021 was a transformational year for Entravision, with revenue and free cash flow reaching record levels," said Chairman and CEO Walter Ulloa. "Our growth for the fourth quarter and full year 2021 was largely driven by the expansion of our digital business, which comprised 73% of our net revenue. Core television and audio also contributed to our overall strength during the year as we maintained our exceptional talent, programming and ratings. In addition, we saw great advancements in profitability. Full year consolidated adjusted EBITDA of $88.0 million improved 46% over 2020, demonstrating our growth and continued expense management."

Ulloa continued, "I am very pleased with the continued transformation of Entravision's business. Through both organic growth and strategic acquisitions we have become a leading global advertising solutions, media and technology company, serving over 3,000 clients each month in over 30 countries. We connect brands and advertisers with consumers in primarily emerging growth markets around the world and are excited about this enormous opportunity. I believe we have a talented, experienced and energetic team of professionals around the world with the expertise and resources to continue to grow Entravision's business into the future."

The company also announced today that its board of directors approved a quarterly cash dividend to shareholders of $0.025 per share on its Class A, Class B and Class U common stock, of $2.1 million. The quarterly dividend will be payable on March 31, 2022 to shareholders of record as of the close of business on March 16.