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Cumulus: Q2 Earnings Snapshot
Broadcast radio weakness pushed quarterly revenue down 9.7% as Cumulus advanced its court-approved restructuring and awaited regulatory approvals.
- On Thursday and Friday, ProQR Therapeutics NV and PrimeEnergy Resources Corporation reported second quarter 2026 earnings, with ProQR posting a $10.1 million loss and PrimeEnergy reporting $6.5 million in net income.
- Strong oil prices provided a substantial offset to severe natural gas pricing in the Permian Basin, where PrimeEnergy's realized prices averaged negative $3.53 per Mcf, resulting in more than $9 million of negative natural gas revenue.
- Chairman and Chief Executive Officer Charles E. Drimal, Jr. noted the company repurchased 31,290 shares for approximately $5.5 million during the quarter while drilling commenced on 24 horizontal wells in Martin and Upton Counties.
- PrimeEnergy ended the quarter with $28.7 million in cash and no outstanding bank debt, improving from $7.4 million at year-end 2025, while ProQR posted its $10.1 million loss.
- First production from the 24 horizontal wells is expected during the fourth quarter of 2026, with the company planning to invest approximately $52 million in 28 horizontal wells this year.
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Cumulus: Q2 Earnings Snapshot
ATLANTA (AP) — ATLANTA (AP) — Cumulus Media Inc. (CMLSQ) on Friday reported a loss of $9.2 million in its second quarter.
·Georgia, United States
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Cumulus Reports Q2 Results, Continues Progress Toward Reorganization.
Cumulus Media reported a 9.7% year-over-year revenue decline in the second quarter, with broadcast radio revenue down 13.2% and Adjusted EBITDA falling 28.3%. The results come as the company continues its Chapter 11 reorganization, with its restructuring plan confirmed by…
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Total News Sources15
Leaning Left1Leaning Right2Center10Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
C 77%
15%
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