EX-99.1 2 tgna2020guidance.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1

TEGNA is furnishing full year 2020 guidance for certain metrics listed below:
Full Year 2020 Key Guidance Metrics
 
2020 Guidance Range1
Subscription Revenue
 
TBD2
Political Revenue
 
> $300 million
Corporate Expenses
 
$41 - 43 million
Depreciation
 
$70 - 78 million
Amortization
 
TBD3
Interest Expense
 
$228 - 233 million
Total Capital Expenditures4
 
$62 - 70 million
Non-Recurring Cap Expenditures
  $20 - 24 million
Effective Tax Rate
 
23.5% - 24.5%
Net Leverage Ratio
 
4.0x - 4.1x by year-end (4.6x by mid-year)
Free Cash Flow as a % of est. 2019/20 Revenue
19% - 20%
Free Cash Flow as a % of est. 2020/21 Revenue
19% - 20%
 
1 Assumes no additional acquisitions or share buyback.
2 The Company plans to update publicly in first quarter 2020 once it completes the negotiation of a significant agreement by year-end 2019.
3 This will be updated upon completion of appraisals of the assets and liabilities related to the new acquisitions.
4 Capital Expenditures prior to reimbursements for repack.