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Meredith Q4 Adj. EBITDA Up 6%; Issues Guidance - Quick Facts

Meredith Corp. (MDP) reported that, for the fourth-quarter, excluding special items, earnings per share from continuing operations was $0.85 compared to $0.25. Adjusted earnings per share increased to $1.79 from $1.31. Adjusted EBITDA grew 6 percent to $169 million from $160 million, a year ago.

Fourth-quarter total company revenues from continuing operations were $786 million, compared to $799 million, prior year.

For fiscal 2020, Meredith expects: total company revenues to range from $3.0 billion to $3.2 billion. Adjusted EBITDA is projected to range from $640 million to $675 million, and adjusted earnings per share to range from $5.75 to $6.20.

For the first quarter, Meredith expects: adjusted earnings per share to range from $0.88 to $0.93; and adjusted EBITDA to range from $122 million to $127 million.

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