Earnings Releases·Nov 9, 2026, 4:07 PM ET

iHeartMedia, Inc. — Third Quarter 2026 Earnings Summary

Consolidated revenue rose 3.3% year-over-year to $1,030 million, while GAAP operating income improved to $73 million from a $116 million loss in Q3 2025; however, Adjusted EBITDA declined 17% to $170 million due to higher variable content and non-cash trade/barter expenses.
Digital Audio Group revenue grew 14% year-over-year to $389 million, driven by a 24% increase in podcast revenue, whereas Multiplatform Group revenue fell 5% to $562 million amid advertiser uncertainty.
Full-year 2026 Adjusted EBITDA guidance is set at $550–$600 million with expected Free Cash Flow of approximately $50 million; Q4 2026 revenue is projected to grow mid-single digits, with Adjusted EBITDA guidance of $135–$185 million.
The company plans to establish podcasting as a separate reporting segment in 2027 and expects total programmatic revenue to reach $400 million in 2027, up from an estimated $200 million in 2026.
As of September 30, 2026, the company reported $140 million in cash, $416 million in total liquidity, and $5,024.3 million in total debt.