iHeartMedia, Inc. (NASDAQ:IHRT) Q4 2022 Earnings Conference Call February 28, 2023 4:30 PM ET

Company Participants

Mike McGuinness – Head-Investor Relations

Bob Pittman – Chairman and Chief Executive Officer

Rich Bressler – President, Chief Operating Officer and Chief Financial Officer

Conference Call Participants

Steven Cahall – Wells Fargo

Dan Day – B. Riley Securities

Jim Goss – Barrington

Sebastiano Petti – JPMorgan

Operator

Good day, everyone. My name is Kelly, and I’ll be your conference operator for today. At this time, I’d like to welcome everyone to the iHeartMedia Q4 2022 Earnings Call. Today’s call is being recorded. [Operator Instructions]

At this time, I’d like to turn the conference over to Mr. Mike McGuinness, Head of Investor Relations. Please go ahead, sir.

Mike McGuinness

Good afternoon, everyone, and thank you for taking the time to join us for our fourth quarter 2022 earnings call. Joining me for today’s discussion are Bob Pittman, our Chairman and CEO; and Rich Bressler, our President, COO and CFO.

At the conclusion of our prepared remarks, management will take your questions. In addition to our press release, we have an earnings presentation available on our website that you can use to follow along with our remarks. Please note that this call may include forward-looking statements regarding our financial performance and operating results. These statements are based on management’s current expectations, and actual results could differ from what is stated as a result of certain factors identified on today’s call and in the company’s SEC filings.

Additionally, during this call, we will refer to certain non-GAAP financial measures. Reconciliations between GAAP and non-GAAP financial measures are included in our earnings release, investor presentation and our SEC filings, which are available in the Investor Relations section of our website.

And now I’ll turn the call over to Bob.

Bob Pittman

Thanks, Mike, and good afternoon, everybody. We’re pleased to report another quarter of solid operating results for iHeart and consumer usage, revenue and earnings growth. Even in this continuing challenging and uncertain economic environment, we’re continuing our transformation of this company.

Before I take you through the fourth quarter highlights, I want to take a step back and talk about the year we’ve just had. As a reminder, 2022 became strong for us and was poised to be robust for iHeart. However, as you’re all aware, a number of macroeconomic factors led to increased volatility and uncertainty, which moderated our 2022 results. Despite these headwinds, we continue to innovate and find new ways to engage with our consumers and advertising partners, we remain committed to evolving our business, and we maintained our focus on expense management, and our financials reflect these commitments.