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Meredith: Q3 Earnings Insights

Shares of Meredith (NYSE:MDP) decreased 2.65% in pre-market trading after the company reported Q3 results. Quarterly Results Earnings per share fell 5.77% year over year to $0.49, which missed the estimate of $1.10. Revenue of $701,700,000 declined by 5.61% ye

Benzinga · 05/14/2020 12:54

Shares of Meredith (NYSE:MDP) decreased 2.65% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 5.77% year over year to $0.49, which missed the estimate of $1.10.

Revenue of $701,700,000 declined by 5.61% year over year, which missed the estimate of $720,830,000.

Outlook

Meredith hasn't issued any earnings guidance for the time being.

Meredith hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: May 14, 2020

Time: 11:35 PM ET

Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.meredith.com%2Fevents-and-presentations%2Fdefault.aspx&eventid=2159757&sessionid=1&key=E237466AFECECAF42DEC6AAF423CB825&regTag=&sourcepage=register

Price Action

Company's 52-week high was at $58.55

Company's 52-week low was at $10.55

Price action over last quarter: down 63.10%

Company Overview

Meredith Corp is an American media company that focuses on publications and marketing services around the home, family, food, and lifestyle markets. The company operates two divisions: national media and local media. The national media segment publishes magazines such as Every Day with Rachael Ray, Better Homes and Gardens, Family Fun, and Parents; this segment is the source of the majority of Meredith's revenue. The local media segment owns over 15 television stations around the United States. In 2014, the company announced a 10-year licensing agreement with Martha Stewart Omnimedia to acquire the rights to Martha Stewart Living, Martha Stewart Weddings, and marthastewart.com.