Entravision Communications Corporation (NYSE:EVC) Q3 2022 Earnings Conference Call November 3, 2022 4:30 PM ET

Company Participants

Kimberly Esterkin - Investor Relations

Walter Ulloa - Chairman and Chief Executive Officer

Chris Young - Chief Financial Officer

Conference Call Participants

Michael Kupinski - Noble Capital Markets

James Dix - Industry Capital Research

Edward Reilly - EF Hutton

Robert Maltbie - Singular Research

Operator

Good day, good evening and welcome to the Entravision Third Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Kimberly Esterkin, Investor Relations. Please go ahead.

Kimberly Esterkin

Thank you, operator. Good afternoon, everyone and welcome to Entravision’s third quarter 2022 earnings conference call. Joining me today are Walter Ulloa, Chairman and Chief Executive Officer and Chris Young, Chief Financial Officer.

Before we begin, I must inform you that this conference call will contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ. Please refer to Entravision’s SEC filings for a list of risks and uncertainties that could impact actual results. This call is the property of Entravision Communications Corporation. Any redistribution, retransmission or rebroadcast of this call in any form without the express written consent of Entravision Communications Corporation is strictly prohibited.

Also, this call will include non-GAAP financial measures. The company has provided a reconciliation of these non-GAAP financial measures to their most comparable GAAP measures in today’s press release. The press release is available on the company’s website and was filed with the SEC on Form 8-K. In addition, all pro forma figures, including revenue, operating expenses and consolidated adjusted EBITDA noted throughout the prepared remarks, include the contributions of various acquisitions and investments in the prior year period.

I will now turn the call over to Walter Ulloa, Chairman and Chief Executive Officer.

Walter Ulloa

Thank you, Kimberly, and good afternoon, everyone. We appreciate you joining us for Entravision’s third quarter 2022 earnings call. Entravision’s solid performance in the third quarter and year-to-date demonstrates the resiliency and growth of our business in a tough macro environment, as we continue to strategically expand our operations throughout the globe. We now have a presence in 40 different countries across five continents.

Net revenue for the third quarter totaled $241 million, up 21% year-over-year. On a pro forma basis, revenue increased 17% over the prior year period. The continued growth of our digital segment, combined with strong political advertising revenue in our television and audio businesses were the main drivers for our third quarter performance.