Welcome to our dedicated page for Entravision Communication news (Ticker: EVC), a resource for investors and traders seeking the latest updates and insights on Entravision Communication stock.
Entravision Communications Corporation (NYSE: EVC) is a dynamic Spanish-language media company with a diversified portfolio of media assets, including 53 television stations, 48 radio stations, and over 100 interactive properties. Entravision's media assets are strategically located in fast-growing U.S. Hispanic markets, catering to a consumer base expected to account for approximately $1083 billion in consumer spending in 2014.
Entravision operates across three primary segments: television broadcasting, audio broadcasting, and digital media. The company's television and audio operations are committed to reaching and engaging U.S. Hispanics, offering content that resonates with this significant demographic group. In addition, Entravision's digital segment extends its reach globally, with operations in Europe, Latin America, Asia, and Africa.
As a global leader in advertising solutions, media, and technology, Entravision provides integrated marketing and media solutions. These encompass television, radio, and digital properties, as well as data analytics services, offering clients comprehensive tools to reach their target audiences effectively.
Recent achievements for Entravision include the expansion of its digital media segment and strategic partnerships that enhance its market position. The company's financial condition remains robust, supported by diversified revenue streams across its various media platforms.
Entravision continues to innovate and adapt to the evolving media landscape, ensuring its offerings meet the changing needs of consumers and advertisers alike.
Entravision (NYSE: EVC) announced a new $275 million credit facility on March 17, 2023, replacing its previous facility from November 30, 2017. The facility includes a $200 million term loan A and a $75 million revolving credit line, led by Bank of America, Wells Fargo, and J.P. Morgan Chase. According to Interim CEO Chris Young, this move showcases the company’s financial strength amidst market volatility and enhances their balance sheet flexibility. The funds will support working capital needs, acquisitions, and corporate purposes. Further details can be found in their Current Report on Form 8-K.
Entravision Communications Corporation (NYSE: EVC) reported record financial results for Q4 and full year 2022, revealing a net revenue of $296.3 million, up 27% year-over-year, while annual revenue reached $956.2 million, marking a 26% increase. The company achieved record adjusted EBITDA figures but reported a net loss of $1.6 million for Q4, a significant decline from the previous year's net income of $3.9 million. Operating cash flow plummeted by 93%, and free cash flow decreased by 37%. Despite challenges, Entravision raised its quarterly dividend to $0.05 per share, reflecting a return to pre-pandemic levels. The company continues to strengthen its digital segment through strategic investments and partnerships.
Entravision (NYSE: EVC), a global advertising and media solutions company, is set to release its fourth quarter and full year 2022 financial results after market close on March 9, 2023. A conference call will be held at 5:00 p.m. ET to discuss these results. Interested participants can dial (844) 836-8739 in the U.S. or (412) 317-5440 internationally to access the call. A replay will be available until March 23, 2023. Entravision operates across digital, television, and audio sectors, with the digital segment being the largest revenue source, including programmatic ad purchasing and mobile performance solutions.
Entravision (NYSE: EVC) announced its partnership as the Authorized Sales Partner of Meta in Mongolia, aiming to enhance local advertising capabilities. This collaboration enables Entravision to provide strategic support, training, and dedicated resources to local advertisers, enhancing their advertising effectiveness in the market. CEO Pieter-Jan de Kroon emphasized their commitment to empower businesses with advanced advertising solutions. Meta's Managing Director for Emerging Markets, Jordi Fornies, highlighted the importance of investing in Mongolia, aiming to strengthen local business support during challenging times.
Entravision (NYSE: EVC) has launched Entravision Plus, a new platform designed to help companies reach Hispanic consumers through over-the-top (OTT) media and Connected TV (CTV). This initiative leverages data insights to enhance digital advertising results, targeting 90% of Hispanic consumers who stream video on smart devices. The service complements Entravision's existing digital offerings, including Digital Audio Ads and social media advertising. With Hispanic consumers watching 26+ hours of online video monthly, Entravision aims to optimize advertisers' connections with this growing demographic. The company believes Entravision Plus will fuel faster growth for its clients.
Entravision (NYSE: EVC) has announced its expansion into the Icelandic market as an Authorized Sales Partner of Meta, aiming to support local advertisers with services including training, lines of credit, and billing. With this launch, Entravision now operates in 14 countries representing the Meta platform. The Icelandic market boasts over 341,000 digitally connected consumers, presenting substantial growth potential. The initiative will be led by Thoranna K. Jonsdottir, who brings over 20 years of digital marketing experience. This partnership emphasizes Meta's commitment to enhancing advertising effectiveness through local expertise.
Entravision (NYSE:EVC) has announced a quarterly cash dividend of $0.05 per share, doubling its previous dividend of $0.025. This marks a return to pre-pandemic levels with an expected payout of approximately $4.4 million. The dividend is payable on March 31, 2023, to shareholders on record as of March 16, 2023, with the stock trading ex-dividend on March 15, 2023. Interim CEO Chris Young emphasized the strong cash position and confidence in sustainable growth as key factors driving this decision, showcasing a commitment to balanced capital allocation.
Entravision (NYSE: EVC) announced the passing of its Chairman and CEO, Walter F. Ulloa, on December 31, 2022, due to a heart attack. Ulloa, who founded Entravision over 25 years ago, played a pivotal role in transforming the company into a global digital media powerhouse. In light of his sudden death, the Board appointed Chris Young, the CFO, as Interim CEO. The Board is actively searching for a permanent replacement while expressing their deep condolences to Ulloa's family and highlighting his integral contributions to the company's success.
Entravision (NYSE: EVC) has appointed Phil Gontier as Chief Revenue Officer of its subsidiary, Smadex. Gontier, previously of Liftoff and Twitter EMEA, is expected to enhance the company's global growth strategy, leveraging his extensive experience in programmatic advertising. His appointment signals confidence in Smadex's growth potential amid Entravision's strong financial backing. Gontier aims to lead Smadex's growth efforts across the US, Europe, and Asia, aligning with Entravision's broader strategy in the digital advertising landscape.
Entravision (NYSE: EVC) announced that CFO Chris Young will present at the Singular Research Best of the Uncovered Conference on December 8, 2022, at 12:15 PM PT. The presentation will be available via live webcast on Entravision's Investor Relations website. Entravision is a global leader in advertising solutions with a strong focus on digital media, operating through various segments including digital sales representation, programmatic ad purchasing, and digital audio solutions. The company also boasts a robust portfolio in television and radio.
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