Just how down is Automotive in Q4 2021 for Audacy Corp.?
Craig Huber, the Connecticut-based Equity Research Analyst, pressed CFO Rich Schmaeling on this during the Audacy Q4 earnings call.
And, he didn’t get much of an answer from the second-in-command at the company.
Huber, of Huber Research, wanted to know what the percentage of Automotive dollars were compared to all categories, and what sort of decline it experienced in the fourth quarter.
Schmaeling would only note that Automotive was “still the largest category.”
And, he offered generalizations of improvement from local dealers and how more vehicles were on the way. “Over time, it will recover,” Schmaeling said.
Not satisfied, Huber rephrased his question.
It didn’t work, with Schmaeling declining to share details while pointing Huber to the company’s Q3 2021 earnings call, during which a specific percentage was given with respect to Automotive dollars at Audacy.
Back in Q3, Audacy Corp. President/CEO David Field shared that automotive was down 40%. More importantly, Auto’s share of Audacy’s business, according to Field, put it in the mid-teens.
Did that change during Q4, positively or negatively?
Huber wanted to know. He’s still wondering what the answer is.
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February 23, 2022 at 05:56PM
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Evasive Answers On Audacy's Auto Trends - Radio Ink
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