iHeartMedia, Inc. (IHRT)
NASDAQCommunication ServicesBroadcastingSnapshot 2026-09-04
$2.81-1.06%
Close 2026-09-04 · 1-day change
NASDAQCommunication ServicesBroadcastingSnapshot 2026-09-04
Broken: Primary pillar broken — Increase revenue by low-single digits: metric not reported.
iHeartMedia aims to grow revenue by low-single digits. Management targets $800 million adjusted EBITDA in 2026. They also plan to generate $200 million free cash flow. Recent profit shifts support these goals despite challenges.
Recent layoffs and earnings misses threaten revenue growth. The company remains loss-making with negative free cash flow. Market stress and high risk weigh on the turnaround story.
The market expects about 4% revenue growth and prices the stock near $35 fair value. Our view aligns with modest growth but notes risks from recent earnings misses and layoffs.
Breaks if: Adjusted EBITDA falls below $800 million in FY26
Deliver full year 2026 consolidated Adjusted EBITDA of approximately $800 million as reaffirmed in multiple quarters.
Stated as a priority in 2 of last 2 quarters. Management reaffirmed the full year 2026 Adjusted EBITDA target of $800 million in both Q1 and Q2 2026. Adjusted EBITDA was $92.6 million in Q1 and increased to $151.5 million in Q2, showing progress toward the annual target. The trajectory is delivering consistent with management's stated goal.
“We are reaffirming our Full Year Adjusted EBITDA guide of $800 million”
“We are reaffirming our Full Year Adjusted EBITDA guide of $800 million”
Breaks if: Free cash flow falls below $200 million in FY26
Achieve approximately $200 million of Free Cash Flow for full year 2026 as reaffirmed in multiple quarters.
Stated as a priority in 2 of last 2 quarters. Management reaffirmed a Free Cash Flow target of approximately $200 million for full year 2026. Free Cash Flow was negative $114 million in Q1 but improved to positive $46 million in Q2, indicating progress toward the annual target. The trajectory shows improvement and partial delivery so far.
“Free Cash Flow of approximately $200 million”
“Free Cash Flow guide of $200 million”
Breaks if: EPS remains negative or declines further by FY27
Breaks if: YoY revenue growth falls below 3.6% next quarter
Management aims to increase consolidated revenue by low-single digits for the upcoming quarter.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story in the Communication Services sector. The current thesis is cautious, given the company's recent earnings misses and high risk of future misses.
The market seems to have priced in a low expectations gap, indicating that IHRT is viewed as relatively cheap compared to its peers. However, the valuation reflects a justified stance, suggesting that investors are aware of the company's loss-making status.
Management is on track to achieve its goals for Adjusted EBITDA and revenue growth, but the Free Cash Flow target remains mixed. The company's recent performance shows improvement, but the elevated risk of missing future earnings adds uncertainty.
The long-term thesis hinges on the performance of sector bellwethers like SIRI, NXST, and FUBO. If these companies continue to perform well, it could provide a favorable backdrop for IHRT, while any negative guidance from them could lead to further challenges.
In the next 1-3 years, IHRT's performance will depend heavily on sector dynamics and management execution. Not investment advice.
The most important moves since the prior daily snapshot.
Mixed, the news cuts both ways. The company aims to expand Digital Audio revenue. It also seeks to achieve $800 million in Adjusted EBITDA for 2026. However, revenue growth remains a concern. The company needs to increase revenue by low-single digits.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.