The following is a summary of the Entravision Communications Corporation (EVC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Entravision reported a Q1 2024 revenue of $277.4 million, a 16% increase compared to Q1 of 2023.

• A significant net loss was observed at $48.9 million in Q1 2024 versus income in Q1 2023, mainly due to winding down of Meta's ASP program and lower margins in the digital segment.

• There was a considerable 65% decrease in EBITDA and negative free cash flow of $2.8 million primarily due to higher cash interest and taxes.

Business Progress:

• Entravision is undergoing a massive transformation due to Meta's decision to end its authorized sales partner program, which was a crucial revenue source in 2023.

• Despite the challenges, Entravision is expanding its news production for the Latinx audience and enhancing its programmatic advertising platform, Smadex.

• The company has debuted its urban Latino format targeting younger, bilingual Latinos, evidencing its commitment to content innovations.

• The company's healthy financial management is demonstrated by a $10 million provisional payment on their debt in Q1 2024 and a quarterly dividend of $0.05 per share approved by the Board of Directors.

More details: Entravision Communications IR

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