As we delve into the impressive financial journey of Emmis Communications Corporation (NASDAQ: EMMS) over the past decade, we cannot overlook their remarkable results for the third fiscal quarter ending November 2025. The radio broadcasting titan has consistently outperformed market expectations, with domestic radio net revenues up by 5% for this quarter. A series of strategic decisions, led by the dynamic leadership of Jeff Smulyan, has positioned Emmis as a market leader, all while reshaping the ‘s capital structure for a more prosperous future. Let’s explore the financial details that underscore the successful transformation of Emmis Communications Corporation.
Emmis Communications Corporation’s Financial Overview
Emmis Communications Corporation (NASDAQ: EMMS) has provided an update on its third fiscal quarter ending November 2025. Pro forma for station divestitures, Emmis’ domestic radio net revenues for the third fiscal quarter has seen an increase of 5%. On a reported basis, total radio net revenues were up 1% and total net revenues were down slightly. “I couldn’t be more pleased with the ‘s outstanding operating performance,” Jeff Smulyan, Emmis Chairman &-on-bet” target=”_blank”>” target=”_blank”>; CEO, said. “Emmis radio station’s revenue growth continues to outpace its markets. While our markets were up 1 percent this quarter, Emmis stations saw an increase of 5 percent.”
Financial Transformation of Emmis
“With the refinancing of our entire capital structure that was completed our quarter-end, we have dramatically reduced our interest expense and increased our ability to generate free cash flow going forward, completing the transformation of Emmis,” Smulyan concluded. Station operating income during the period was $13.8 million, compared to $10.0 million for the same quarter of the prior year. Diluted net income per common share from continuing operations was $0.02, compared to $1.26 for the same quarter of the prior year.
Emmis’ Financial Data
The decline is due primarily to the gain on the sale of stations WKQX-FM (101.1 MHz, Chicago, IL), WLUP-FM (97.9 MHz, Chicago, IL) and WRXP-FM (101.9 MHz, New York, NY) to Merlin Media coupled with related tax benefits recognized in the prior year. Emmis has included supplemental pro forma net revenues, station operating expenses, and certain other financial data on its website,www.emmis.com under the “Investors” tab.
Financial Results (dollars in thousands)
Evaluation of Performance
Emmis generally evaluates the performance of its operating entities based on station operating income. …
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