Exhibit 99.1
TEGNA is furnishing full year 2020 guidance for certain metrics listed below:
Full Year 2020 Key Guidance Metrics | 2020 Guidance Range1 | |
Subscription Revenue | TBD2 | |
Political Revenue | > $300 million | |
Corporate Expenses | $41 - 43 million | |
Depreciation | $70 - 78 million | |
Amortization | TBD3 | |
Interest Expense | $228 - 233 million | |
Total Capital Expenditures4 | $62 - 70 million | |
Non-Recurring Cap Expenditures | $20 - 24 million | |
Effective Tax Rate | 23.5% - 24.5% | |
Net Leverage Ratio | 4.0x - 4.1x by year-end (4.6x by mid-year) | |
Free Cash Flow as a % of est. 2019/20 Revenue | 19% - 20% | |
Free Cash Flow as a % of est. 2020/21 Revenue | 19% - 20% | |
1 Assumes no additional acquisitions or share buyback. | ||
2 The Company plans to update publicly in first quarter 2020 once it completes the negotiation of a significant agreement by year-end 2019. | ||
3 This will be updated upon completion of appraisals of the assets and liabilities related to the new acquisitions. | ||
4 Capital Expenditures prior to reimbursements for repack. |