Broadcasting and digital media company TEGNA (NYSE:TGNA) will be reporting earnings tomorrow morning. Here’s what to expect.

TEGNA beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $806.8 million, up 13.1% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ EBITDA estimates.

Is TEGNA a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting TEGNA’s revenue to grow 20% year on year to $871 million, a reversal from the 20.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.18 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.

Looking at TEGNA’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 19.9%, beating analysts’ expectations by 5%, and AMC Networks reported a revenue decline of 11.7%, falling short of estimates by 2.3%. FOX traded up 5% following the results while AMC Networks was down 15.4%.

Read our full analysis of FOX’s results here and AMC Networks’s results here.

Stocks, especially growth stocks where cash flows further in the future are more important to the story, have had a good 2024. An economic soft landing (so far), the start of the Fed's rate cutting campaign, and the election of Donald Trump were positives for the market, and while some of the consumer discretionary stocks have shown solid performance, the group has generally underperformed, with share prices down 3.3% on average over the last month. TEGNA is down 6.4% during the same time and is heading into earnings with an average analyst price target of $21.10 (compared to the current share price of $17).

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