• TEGNA Inc. reported third quarter 2025 financial results showing a year-over-year decline in revenue to US$650.79 million and a decrease in net income to US$37.12 million, while also affirming a regular quarterly dividend of 12.5 cents per share and confirming it repurchased no shares in the recent period.

• The weak earnings highlight ongoing pressure on advertising revenue and profitability, despite continued capital returns through dividends and prior share repurchases.

• We’ll examine how the significant drop in quarterly sales and profits informs TEGNA’s overall investment narrative and future outlook.

These 11 companies survived and thrived after COVID and have the right ingredients to survive Trump’s tariffs. Discover why before your portfolio feels the trade war pinch.

To be a shareholder in TEGNA, I think you need to believe the company can transition its business model to offset declines in traditional TV advertising by capturing growth in digital and streaming markets. The recent Q3 earnings miss reflects persistent pressure on core revenue, but doesn’t significantly change the immediate outlook for TEGNA’s biggest near-term catalyst: shifting ad dollars to digital platforms. The main risk in focus remains whether digital expansion can grow fast enough to compensate for softness in legacy channels.

The newly affirmed quarterly dividend of US$0.125 per share stands out among the company’s recent announcements. It shows TEGNA is maintaining consistent capital returns to shareholders even during a period of earnings volatility and market transformation. For investors watching both catalysts and risks, ongoing dividend payments are a useful signal of management’s confidence in future cash flow.

By contrast, one hidden risk some investors may overlook is how slow progress in digital scaling could accelerate earnings pressure if traditional ad sales keep weakening…

Read the full narrative on TEGNA (it’s free!)

TEGNA’s narrative projects $3.0 billion revenue and $400.8 million earnings by 2028. This requires a -0.1% yearly revenue decline and a $51.9 million decrease in earnings from $452.7 million currently.

Uncover how TEGNA’s forecasts yield a $21.33 fair value, a 7% upside to its current price.

Five Simply Wall St Community members gave fair value estimates for TEGNA ranging from US$15.01 up to US$19,461.32. This diversity of views comes as many are weighing whether digital audience growth can outpace ongoing declines in traditional broadcast revenue.