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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Townsquare Media
Townsquare Media (TSQ) investor relations material
Townsquare Media Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 net revenue rose 3.9% YoY to $110.948M; Adjusted EBITDA increased 2.7% to $22.605M, and net loss narrowed to $3.986M from $5.498M.
Digital Advertising grew 12.7% and political revenue supported results, while Subscription Digital Marketing Solutions and non-political Broadcast Advertising remained under pressure.
The quarterly dividend was suspended to preserve ~$14M annually for liquidity and potential higher-return opportunities.
Financial highlights
Q3 revenue excluding political rose 1.4% to $108.044M; 9M revenue increased 0.7% to $323.082M, while 9M revenue excluding political fell 0.4% to $318.192M.
9M Adjusted EBITDA was $63.778M versus $66.574M; excluding political, it was $59.621M versus $65.476M.
Q3 diluted loss per share was $0.23 versus $0.36; Adjusted diluted EPS was $0.12 versus $0.05.
9M net loss widened to $42.8M from $5.0M; operating results swung to an $8.1M loss from $34.1M income.
Q3 included $8.1M in non-cash impairment charges; 9M impairment charges were $43.3M versus $4.6M a year earlier.
Outlook and guidance
FY 2026 revenue guidance is $430M–$432M and Adjusted EBITDA guidance is $87M–$89M; Q4 guidance is $107M–$109M revenue and $23M–$25M Adjusted EBITDA.
Q4 revenue guidance excluding political is down 2%–4% YoY; FY Adjusted EBITDA guidance excluding political is ~1% lower YoY.
Subscription Digital Marketing Solutions is not expected to return to sequential revenue growth in Q4; Broadcast Advertising declines are expected to deepen, partly due to political inventory displacement.
Cash and projected cash flows were expected to cover funding needs for at least 12 months; mandatory debt service was expected to be $53.4M over the next 12 months.
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Latest events from Townsquare Media
- Q2 2026 revenue flat; digital growth offset declines, but $41.8M net loss from impairments.TSQ
Q2 2026 - All proposals passed, with a clear plan to reduce leverage and maintain dividends outlined.TSQAGM 2026
- Digital drove record profit and revenue mix as net income swung to $3M and guidance was reaffirmed.TSQQ1 2026
- Proxy covers director elections, auditor ratification, executive pay, and governance best practices.TSQProxy filing
- Director elections, auditor ratification, and executive pay votes set for May 2026 meeting.TSQProxy filing
- Digital drove 55% of 2025 revenue as EBITDA fell, debt dropped, and dividend was maintained.TSQQ4 2025
- Digital now drives 52% of revenue as Q3 operating income rebounds and digital ad growth continues.TSQQ3 2024
- Digital now 52% of revenue; net loss widened, but cash flow enabled major buybacks.TSQQ2 2024
- Digital now drives over half of revenue and profit, with improved leverage and a higher dividend.TSQQ4 2024
Next Townsquare Media earnings date
Q4 202612 Mar, 2027
Townsquare Media
Next Townsquare Media earnings date
Q4 202612 Mar, 2027
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Frequently asked questions
Townsquare Media, Inc. is a media, entertainment, and digital marketing services company serving small to mid-sized markets across the United States. The company operates a portfolio of radio stations and related digital properties, providing local news, music, and entertainment content. Additionally, Townsquare offers a suite of digital marketing solutions, including website development, search engine optimization, and social media management, tailored to small and medium-sized businesses. The company is headquartered in Purchase, New York, and its shares are listed on the NYSE.