Earnings
Glacier Reports Second Quarter 2025 Results
GVC · Price
Executive Summary
- Glacier Media Inc. reported financial results for the period ended June 30, 2025, showing a decline in revenue and a shift from profit to loss in EBITDA compared to the same period in the prior year.
- Consolidated revenue for Q2 2025 was $32.6 million, a 2.7% decrease year-over-year, driven by lower advertising revenues due to economic uncertainty, tariffs, and the closure or sale of community media publications.
- The company reported a net loss attributable to common shareholders of $5.36 million for Q2 2025 (compared to a $3.28 million loss in Q2 2024) and an EBITDA loss of $0.4 million for the quarter.
Key Details
- Q2 2025 Financials (Three Months Ended June 30, 2025):
- Revenue: $32,624,000 (down from $33,532,000 in Q2 2024).
- EBITDA: $(431,000) (down from $907,000 in Q2 2024).
- EBITDA Margin: (1.3%).
- Net Loss Attributable to Common Shareholders: $(5,364,000).
- Net Loss Per Share: $(0.04).
- Capital Expenditures: $1,430,000.
- Six Months Ended June 30, 2025:
- Revenue: $65,099,000 (down from $68,282,000 in H1 2024).
- EBITDA: $(1,677,000) (down from $585,000 in H1 2024).
- Net Loss Attributable to Common Shareholders: $(9,507,000).
- Net Loss Per Share: $(0.07).
- Capital Expenditures: $2,774,000.
- Operational Drivers:
- Revenue decline attributed to lower advertising revenues, economic uncertainty, US and agricultural tariffs, and the closure or sale of community media publications over the past 12 months.
- EBITDA decline driven by revenue decreases and investment spending in strategic growth areas.
- Financial Position (as of June 30, 2025):
- Cash Balance: $3.0 million.
- Non-recourse Mortgages: $6.6 million (related to land for farm shows in Saskatchewan and Ontario).
- EBITDA Reconciliation Highlights (Q2 2025):
- Net Loss: $(5,364,000).
- Additions: Non-controlling interests ($329,000), Interest expense ($1,041,000), Depreciation and amortization ($2,297,000), Restructuring and other expenses ($1,217,000), Unrealized foreign exchange losses ($1,503,000).
- Deductions: Share of losses from joint ventures ($741,000), Other income ($265,000), Income tax recovery ($448,000).
Notable Quotes
- No direct quotes from the CEO or President were included in the provided text.