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Entravision Communications Corp (EVC) stock is rising but why?

Entravision Communications Corp (EVC) stock price increased on Thursday, March 11, 2021, after the company announced its fourth-quarter and full-year financial results. The share of EVC closed at $3.69 and gained 9.76% more in the after-hours trading on Thursday.

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EVC financial highlights for the fourth quarter

  • EVC net revenue was $171.7 million for the reported quarter, with an increase of approximately $100.9 million compared to the same quarter in 2019.
  • The cost of revenue for the EVC digital segment was $85.3 million for the reported quarter.
  • The company spent $45.3 million operating expenses and $9.3 million in corporate expenses for the three months ended December 31, 2020.
  • $1.7 million was gained in foreign currency for the reported quarter.
  • The EVC spent $0.2 million in impairment charges.

EVC financial highlights for the full year 2020

  • Net revenue increased to $344.0 million for the year ended December 31, 2020, which is an increase of approximately $70.4 million from the previous year.
  • The cost of revenue for the digital segment increased to $106.9 for the reported year.
  • The EVC operating expenses decreased to $153.3 million, compared to $173.4 million for the prior year.
  • Corporate expenses decreased to $27.8 million for the reported year
  • Foreign currency gain was $1.1 million for the year ended December 31, 2020

Participation in the Deutsche Bank 29th Annual Media, Internet & Telecom Conference:

On March 6 2021, EVC  said that it will be participating in the 29th Annual Media, Internet & Telecom Conference and EVC will be represented by the Chairman and Chief Executive Officer Walter Ulloa, Chief Financial Officer and Treasurer, Christopher Young on Monday, March 8, 2021. The Company’s presentation will begin at 12 pm PT.

Announcement of Quarterly Cash Dividends:

On March 3 2021, the EVC board of directors approved a quarterly cash dividend to shareholders. the Company’s Class A, Class B and Class U common stock will get a dividend of $0.025 per share. The quarterly dividend will be payable on March 31, 2021. The company is looking to pay future cash dividends quarterly.

About the company

Entravision Communications Corporation is an American media company based in Santa Monica, California. Entravision primarily caters to the Spanish-speaking Hispanic community and owns television and radio stations and outdoor media, in several of the top Hispanic markets. It was founded in1998 and is a diversified global media, marketing and technology company Entravision has 54 television stations and is the largest affiliate group of the Univision and UniMás television networks. The company runs 48 Spanish-language radio stations.

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