Townsquare Media, Inc (NYSE:TSQ) Q2 2024 Results Conference Call August 7, 2024 8:00 AM ET

Company Participants

Claire Yenicay - EVP of Investor Relations & Corporate Communications
Bill Wilson - Chief Executive Officer & Director
Stuart Rosenstein - Executive Vice President & Chief Financial Officer

Conference Call Participants

Michael Kupinski - Noble Capital Markets
Jim Goss - Barrington Research

Operator

Good morning, and welcome to Townsquare Media's Second Quarter 2024 Earnings Call. As a reminder, today's call is being recorded, and your participation implies consent to such recording. [Operator Instructions].

With that, I would like to introduce the first speaker for today's call, Claire Yenicay, Executive Vice President. Please go ahead.

Claire Yenicay

Thank you, operator, and good morning to everyone. Thank you for joining us today for Townsquare's second quarter financial update. With me on the call today are Bill Wilson, our CEO; and Stuart Rosenstein, our CFO and Executive Vice President.

Please note that during this call, we may make statements that provide information other than historical information, including statements relating to the company's future expectations, plans and prospects. These statements are considered forward-looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from these statements. These statements reflect the company's beliefs based on current conditions that are subject to certain risks and uncertainties, including those that are detailed in the company's annual report on Form 10-K filed with the SEC.

We may also discuss certain non-GAAP financial measures, including adjusted EBITDA and adjusted operating income by segment, which we may refer to as profit in our remarks. Such non-GAAP financial measures should be used in conjunction with all the information contained in the quarterly, year-end and current reports available on our website. I also encourage all participants to go to our corporate website and download our investor presentation as Bill will reference some of those slides during our discussion this morning.

At this time, I would like to turn the call over to Bill Wilson.

Bill Wilson

Thank you, Claire, and thank you all for joining us this morning. It's great to reconnect with everyone. We're very pleased to share with you that Townsquare's performance continues to improve and strengthen as expected and is sequentially progressing each quarter as I forecasted on our earnings call in May. On that call, you may remember that I projected that second quarter net revenue would be down negative 2% to negative 3% year-over-year, and net revenue came in directly at the middle point, down negative 2.5%, a sequential improvement from Q1 results.