Entravision Communications Corporation (NYSE:EVC) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET
Company Participants
Roy Nir - Vice President of Financial Reporting & Investor Relations
Michael Christenson - Chief Executive Officer
Mark Boelke - Chief Financial Officer
Conference Call Participants
Operator
Greetings and welcome to the Entravision Third Quarter 2024 Earnings Report. As a reminder, this conference is being recorded.
It is now my pleasure to turn the call over to Roy Nir from Entravision.
Roy Nir
Good afternoon, everyone. I am Roy Nir, Vice President of Financial Reporting and Investor Relations. Welcome to Entravision's third quarter 2024 earnings report. Joining me today are Michael Christenson, Chief Executive Officer; and Mark Boelke, Chief Financial Officer.
Before we begin, I must inform you that our report 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. Our report will also include non-GAAP financial measures. The company has provided a reconciliation of these non-GAAP financial measures to their most comparable GAAP measures in its press release. The press release is available on the company's Investor Relations page and was filed with the SEC on Form 8-K.
I will now turn it over to Michael Christenson.
Michael Christenson
Thank you, Roy and thanks to all of you for joining us for this report today.
When we last reported our 2Q results for the quarter ending in June, we talked about the transformation we completed with the separation of our digital platform representation business and the sale of several other operations. More importantly, we talked about how we were investing in our media business and in our remaining advertising technology and services businesses. In media, our mission is to serve our Latino audience, to be the trusted provider of useful news, information and entertainment and to serve our advertisers by providing multichannel marketing capabilities to engage our audience. Remember, this is an audience we've served for three decades.
We talked about 2 important investments in our media business: News and political sales. We have made significant investments this year to expand our news production capabilities. We doubled the amount of news we provide to our audience. We now provide morning, midday, early evening and late news in all of our markets and we have weekend early weekend, early evening and late news in San Diego, Las Vegas and Denver and in El Paso and McAllen, Texas. We feel good about our news investment and the progress we've made since our launch in the first quarter of this year. What I can tell you today is that the expanded news operation was profitable in its first full quarter, 2Q and the profitability improved through the year through 3Q. We're proud of our team for their work in expanding this business profitably.