TEGNA Inc. announced its first quarter 2025 financial results on May 8, 2025, reporting total company revenue of $680 million, a 5% decrease year-over-year. Net income was $58.67 million, compared to $189.56 million in the prior year, with basic earnings per share at $0.36, down from $1.06.
Advertising and Marketing Services (AMS) revenue decreased 3% to $286 million, impacted by macroeconomic headwinds and the Super Bowl airing on Fox, TEGNA's smallest affiliate group. However, digital advertising revenue grew year-over-year, and distribution revenue remained flat at $380 million.
The company reaffirmed its 2024/2025 two-year Adjusted Free Cash Flow guidance of $900 million to $1.1 billion and reported a net leverage ratio of 2.8 times. TEGNA is on track to achieve $90 million to $100 million in annualized core non-programming savings by the end of 2025, having realized 60% of this target by Q1. For Q2 2025, total revenue is expected to decline 4% to 7% year-over-year.
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