New Risk • Jun 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-₱1.5b free cash flow). Minor Risks Negative equity (-₱66m). Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₱2.12b market cap, or US$34.7m). Duyuru • Jun 11
ABS-CBN Corporation, Annual General Meeting, Jul 24, 2026 ABS-CBN Corporation, Annual General Meeting, Jul 24, 2026, at 08:01 W. Australia Standard Time. New Risk • May 19
New minor risk - Negative shareholders equity The company has negative equity. Total equity: -₱66m This is considered a minor risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-₱1.5b free cash flow). Minor Risks Negative equity (-₱66m). Market cap is less than US$100m (₱2.38b market cap, or US$38.5m). Reported Earnings • Apr 21
Full year 2025 earnings released: ₱4.89 loss per share (vs ₱4.86 loss in FY 2024) Full year 2025 results: ₱4.89 loss per share (further deteriorated from ₱4.86 loss in FY 2024). Revenue: ₱15.9b (down 8.5% from FY 2024). Net loss: ₱4.39b (flat on FY 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 18
Third quarter 2025 earnings released: ₱0.43 loss per share (vs ₱0.44 loss in 3Q 2024) Third quarter 2025 results: ₱0.43 loss per share. Revenue: ₱3.48b (down 20% from 3Q 2024). Net loss: ₱1.28b (loss widened 228% from 3Q 2024). Reported Earnings • Aug 14
Second quarter 2025 earnings released: ₱0.33 loss per share (vs ₱1.31 loss in 2Q 2024) Second quarter 2025 results: ₱0.33 loss per share (improved from ₱1.31 loss in 2Q 2024). Revenue: ₱4.04b (up 9.1% from 2Q 2024). Net loss: ₱289.7m (loss narrowed 75% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 17
First quarter 2025 earnings released: ₱0.48 loss per share (vs ₱0.94 loss in 1Q 2024) First quarter 2025 results: ₱0.48 loss per share (improved from ₱0.94 loss in 1Q 2024). Revenue: ₱4.23b (up 3.7% from 1Q 2024). Net loss: ₱425.7m (loss narrowed 50% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 23% per year. Reported Earnings • Apr 16
Full year 2024 earnings released: ₱4.86 loss per share (vs ₱11.03 loss in FY 2023) Full year 2024 results: ₱4.86 loss per share (improved from ₱11.03 loss in FY 2023). Revenue: ₱17.3b (down 6.4% from FY 2023). Net loss: ₱4.37b (loss narrowed 55% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Duyuru • Apr 03
ABS-CBN Corporation, Annual General Meeting, Jun 26, 2025 ABS-CBN Corporation, Annual General Meeting, Jun 26, 2025, at 08:00 W. Australia Standard Time. New Risk • Jan 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₱4.55b market cap, or US$78.4m). Reported Earnings • Nov 17
Third quarter 2024 earnings released: ₱0.44 loss per share (vs ₱1.14 loss in 3Q 2023) Third quarter 2024 results: ₱0.44 loss per share (improved from ₱1.14 loss in 3Q 2023). Revenue: ₱4.33b (down 8.3% from 3Q 2023). Net loss: ₱389.9m (loss narrowed 62% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. New Risk • Aug 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₱501m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₱501m free cash flow). Earnings have declined by 11% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₱4.42b market cap, or US$77.5m). Reported Earnings • Aug 15
Second quarter 2024 earnings released: ₱1.31 loss per share (vs ₱1.10 loss in 2Q 2023) Second quarter 2024 results: ₱1.31 loss per share (further deteriorated from ₱1.10 loss in 2Q 2023). Revenue: ₱3.71b (down 18% from 2Q 2023). Net loss: ₱1.18b (loss widened 22% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Duyuru • May 30
ABS-CBN Corporation Appoints Ma. Rosario Santos-Concio as a Director The Board of Directors of ABS-CBN Corporation on May 30, 2024, elected Ms. Ma. Rosario Santos-Concio as a Director. She fills the vacancy in the board created by the passing of Atty. Augusto Almeda-Lopez. Ms. Ma. Rosario Santos-Concio was the President and Chief Executive Officer of ABS-CBN from 2013 to 2015. Prior to this, she was ABS-CBN's President and Chief Operating Officer since 2008. Ms. Santos-Concio also held the positions of Chief Content Officer, President of ABS-CBN University and Executive advisor. She was previously the Head of Channel 2 Mega Manila Management. Onscreen, Ms. Santos-Concio hosted ABS-CBN Channel 2's longest-running drama anthology Maalaala Mo Kaya. Ms. Santos-Concio graduated cum laude from St. Paul's College in Manila with a Communications Arts degree. She also completed the Advanced Management Program at Harvard Business School in 2007. Reported Earnings • May 17
First quarter 2024 earnings released: ₱0.94 loss per share (vs ₱1.32 loss in 1Q 2023) First quarter 2024 results: ₱0.94 loss per share (improved from ₱1.32 loss in 1Q 2023). Revenue: ₱4.08b (down 4.3% from 1Q 2023). Net loss: ₱841.5m (loss narrowed 28% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Apr 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Filipino stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₱667m free cash flow). Earnings have declined by 19% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (₱3.10b market cap, or US$53.9m). Reported Earnings • Apr 17
Full year 2023 earnings released: ₱11.03 loss per share (vs ₱2.89 loss in FY 2022) Full year 2023 results: ₱11.03 loss per share (further deteriorated from ₱2.89 loss in FY 2022). Revenue: ₱18.5b (flat on FY 2022). Net loss: ₱9.76b (loss widened 297% from FY 2022). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Duyuru • Apr 12
ABS-CBN Corporation, Annual General Meeting, Jun 20, 2024 ABS-CBN Corporation, Annual General Meeting, Jun 20, 2024, at 08:01 Singapore Standard Time. New Risk • Mar 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₱592m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₱592m free cash flow). Earnings have declined by 22% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₱3.77b market cap, or US$67.0m). Price Target Changed • Feb 29
Price target decreased by 51% to ₱4.70 Down from ₱9.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₱4.48. Stock is down 38% over the past year. The company is forecast to post a net loss per share of ₱16.57 next year compared to a net loss per share of ₱2.89 last year. Buy Or Sell Opportunity • Feb 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to ₱4.30. The fair value is estimated to be ₱3.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Earnings per share has grown by 61%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 68% per annum over the same time period. Duyuru • Nov 17
ABS-CBN Corporation Announces Change in Directors ABS-CBN Corporation announced that Mr. Aldrin M. Cerrado Chief Operating Officer, ABS-CBN Global retires effective December 31, 2023. reasons for resignation: early retirement. Mr. Rolando "Jun" S. del Rosario Jr. will be appointed Chief Operating Officer, ABS-CBN Global effective January 1, 2024. This will be concurrent to his role as the Managing Director of Global North and Latin America (NOLA). Jun will report directly to the President and CEO. Rolando "Jun" S. del Rosario Jr. Jun joined ABS-CBN International in 2004 as a Product Manager and then became the Director for the Cable and Satellite business in 2005. From 2010 to 2018 he took on senior marketing roles, until he became the Country Manager of ABS-CBN Canada in 2017 and eventually the Managing Director of NOLA in 2018. Jun graduated with a Bachelor of Science degree in Business Management from the Ateneo de Manila University and took up his Executive MBA Course at the Asian Institute of Management. Reported Earnings • Nov 15
Third quarter 2023 earnings released: ₱1.14 loss per share (vs ₱0.44 loss in 3Q 2022) Third quarter 2023 results: ₱1.14 loss per share (further deteriorated from ₱0.44 loss in 3Q 2022). Revenue: ₱4.73b (down 2.2% from 3Q 2022). Net loss: ₱1.02b (loss widened 185% from 3Q 2022). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 16
Second quarter 2023 earnings released: ₱1.10 loss per share (vs ₱0.052 loss in 2Q 2022) Second quarter 2023 results: ₱1.10 loss per share (further deteriorated from ₱0.052 loss in 2Q 2022). Revenue: ₱4.53b (down 6.2% from 2Q 2022). Net loss: ₱965.3m (loss widened ₱926.2m from 2Q 2022). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2023 earnings released: ₱1.37 loss per share (vs ₱1.69 loss in 1Q 2022) First quarter 2023 results: ₱1.37 loss per share (improved from ₱1.69 loss in 1Q 2022). Revenue: ₱4.26b (down 8.3% from 1Q 2022). Net loss: ₱1.16b (loss narrowed 16% from 1Q 2022). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 18
Consensus EPS estimates fall by 272%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ₱19.5b to ₱19.7b. Forecast EPS reduced from -₱1.94 to -₱7.21 per share. Media industry in Philippines expected to see average net income growth of 18% next year. Consensus price target of ₱9.00 unchanged from last update. Share price rose 3.3% to ₱7.29 over the past week. Reported Earnings • Mar 23
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: ₱2.89 loss per share (improved from ₱6.86 loss in FY 2021). Revenue: ₱19.2b (up 7.7% from FY 2021). Net loss: ₱2.46b (loss narrowed 56% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Media industry in Asia. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Duyuru • Jan 28
ABS-CBN Corporation Announces Executive Appointment The board of directors of ABS-C BILLION Corporation at its meeting held on January 26, 2023, the Board has appointed Mr. Paul Michael V. Villanueva, Jr. as Chief Risk Management Officer, Chief Compliance Officer and concurrent Head of ABS-C BILLION Shared Service Center. effective date: January 26, 2023. Paul Michael V. Villanueva, Jr., Filipino, Age 55 Mr. Paul Michael V. Villanueva, Jr. has over 30 years of extensive experience in Public Accounting, Corporate Finance, Treasury Management, Debt and Equity Capital Markets, Budgeting and Comptrollership. Mr. Villanueva joined ABS-C BILLION in 1999 and has held various key positions in Finance including Head of Corporate Treasury and Compliance Officer. He is the concurrent Managing Director of ABS-C BILLION Shared Service Center where he drives growth initiatives and ensures efficient service delivery across all transactional functions in Finance and Human Resources, as well as expertise-based services covering travel and communications, recruitment and order management and fulfillment. Mr. Villanueva graduated from University of Santo Tomas with a degree in Bachelor of Science in Commerce, Major in Accounting. He passed the CPA Licensure exams in 1989. Duyuru • Jan 11
ABS-CBN Corporation Appoints Mary Anne Francis T. Torres as Head of Integrated News and Current Affairs ABS-CBN Corporation announced the appointment of Ms. Mary Anne Francis T. Torres as Head of Integrated News and Current Affairs, effective January 1, 2023. Mary Anne Francis T. Torres, age 45 Ms. Torres has almost 25 years of journalism experience. Prior to being appointed as the Head of Integrated News and Current Affairs, she was the Head of News Production, where she was responsible for managing and overseeing the entire production operations of its news program TV Patrol and TV Patrol Weekend. One of her notable achievements is the 2022 successful Halalan Marathon coverage. She started her career as a news writer for the ABS-CBN News Channel (ANC) in 1998, she was eventually promoted as Executive Producer of various news programs, including 'The World Tonight' with Angelo Castro Junior and Tina Monzon Palma. In 2009, she was awarded the Benigno and Corazon Aquino Fellowship by the United States Embassy in Manila, and was part of its International Visitors Leadership Program. She also handled current affairs programs, including Talkback with Tina Palma and Beyond Politics with Lynda Jumilla. In 2013, she moved to ABS-CBN as Head of Breaking News and Live Events. Concurrent to her role, she continues to work as the Managing Producer of ABS-CBN News Channel. As such, she was tasked to produce the special coverage of the Visit of Pope Francis to the Philippines in 2015, and "PILI PINAS 2016", the Presidential Town Hall Debate held in Pangasinan. At the same time, she also led the News Desk as Chief Assignment Editor from 2015-2016, deploying reporters and helping set the daily news agenda for ABS-CBN's newscasts, and its cable, radio and digital news platforms. From 2017 to 2020, she led an ecosystem of news platforms and current affairs programs, including DOCU CENTRAL, the documentary unit of ABS-CBN News. This group produced several documentaries, including 'Di Ka Pasisiil', a documentary on the War in Marawi, which won a Gold in the New York Festival in 2018. Ms. Torres graduated magna cum laude from the University of the Philippines with a degree in Broadcast Communication in 1998. Duyuru • Jan 04
ABS-CBN Corporation Announces Executive Resignation ABS-CBN Corporation announced the resignation of Ma. Regina E. Reyes as Head of Integrated News and Current Affairs, Raymund Martin T. Miranda as Chief Strategy Officer, Chief Risk Management Officer and Compliance Officer and Antonio S. Ventosa as President and Chief Executive Officer, Sky Cable. The Resignations are effective from December 31, 2022. Major Estimate Revision • Dec 14
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ₱20.5b to ₱19.3b. 2022 losses expected to reduce from -₱4.75 to -₱2.56 per share. Media industry in Philippines expected to see average net income growth of 15% next year. Consensus price target down from ₱9.50 to ₱9.00. Share price fell 2.0% to ₱7.30 over the past week. Recent Insider Transactions • Dec 06
Insider recently sold ₱151k worth of stock On the 1st of December, Ernilda Bayani sold around 20k shares on-market at roughly ₱7.55 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₱1.4m. Insiders have been net sellers, collectively disposing of ₱4.3m more than they bought in the last 12 months. Recent Insider Transactions • Nov 25
Insider recently sold ₱485k worth of stock On the 22nd of November, Ernilda Bayani sold around 62k shares on-market at roughly ₱7.81 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₱1.4m. Insiders have been net sellers, collectively disposing of ₱4.1m more than they bought in the last 12 months. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Director Randolf David was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Oct 14
Head of Integrated Sales recently sold ₱1.3m worth of stock On the 11th of October, Rossana Trinidad sold around 161k shares on-market at roughly ₱7.82 per share. This transaction amounted to 89% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₱1.4m. Insiders have been net sellers, collectively disposing of ₱3.3m more than they bought in the last 12 months. Recent Insider Transactions • Sep 15
Director recently sold ₱575k worth of stock On the 8th of September, Oscar Lopez sold around 64k shares on-market at roughly ₱9.04 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱656k more than they bought in the last 12 months. Duyuru • Sep 02
ABS-CBN Corporation (PSE:ABS) cancelled the acquisition of 34.99% stake in TV5 Network Inc. from Mediaquest Holdings Inc. ABS-CBN Corporation (PSE:ABS) agreed to acquire 34.99% stake in TV5 Network Inc. from Mediaquest Holdings Inc. for PHP 2.16 billion on August 10, 2022. After the consummation of this subscription, the MediaQuest group’s equity in TV5 will be reduced to 64.79% of the voting and outstanding capital stock and the MediaQuest group will remain to be the controlling shareholder of TV5. Simultaneously with the execution of the Investment Agreement, the parties will execute a Convertible Note Agreement pursuant to which ABS-CBN to invest in a Convertible Note with a face value of Php1.84Bn to be issued by TV5. The proceeds of the subscription in the primary common shares and the Convertible Note in the total amount of Php4Bn will fund the capital expenditures and operating expenses of TV5 in pursuing the enhancements of its content and programming and public service offerings. The transaction is expected to be completed within August 2022, and closing is subject to fulfillment of certain closing conditions. AlphaPrimus Advisors and Picazo Buyco Tan Fider & Santos advised the MediaQuest group on this transaction while the law firms of Romulo Mabanta and Quiason Makalintal advised ABS-CBN.
ABS-CBN Corporation (PSE:ABS) cancelled the acquisition of 34.99% stake in TV5 Network Inc. from Mediaquest Holdings Inc. September 1, 2022 Reported Earnings • Aug 18
Second quarter 2022 earnings released: ₱0.052 loss per share (vs ₱1.73 loss in 2Q 2021) Second quarter 2022 results: ₱0.052 loss per share (up from ₱1.73 loss in 2Q 2021). Revenue: ₱4.83b (up 14% from 2Q 2021). Net loss: ₱39.1m (loss narrowed 97% from 2Q 2021). Over the next year, revenue is forecast to grow 14%, compared to a 12% growth forecast for the Media industry in Philippines. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Duyuru • Aug 12
Cignal Cable Corporation agreed to acquire 38.88% stake in SKY Cable Corporation from ABS-CBN Corporation (PSE:ABS), Sky Vision Corp. and Lopez, Inc. for PHP 2.862 billion. Cignal Cable Corporation agreed to acquire 38.88% stake in SKY Cable Corporation from ABS-CBN Corporation (PSE:ABS), Sky Vision Corp. and Lopez, Inc. for PHP 2.862 billion on August 10, 2022. The Board of Directors of ABS-CBN Corporation approved today the sale of SKY Cable Corporation. The closing of the transactions, which is expected within the month of August 2022. Alphaprimus Advisors Inc. acted as financial advisor and Picazo Buyco Tan Fider & Santos acted as legal advisor to MediaQuest group. Romulo Mabanta Buenaventura Sayoc & De los Angeles and Quiason Makalintal Barot Torres & Ibarra acted as legal advisors to ABS-CBN. Duyuru • Jul 28
ABS-CBN Corporation Announces Executive Changes ABS-CBN Corporation appointed Ms. Maria Rosario Santos-Concio, Ms. Cynthia del Castillo, Mr. Rafael L. Lopez, Mr. Antonio Jose U. Periquet, and Mr. Cesar V. Purisima as members of the Board of Advisors. The Board designated Mr. Emmanuel S. De Dios as the Lead Independent Director. Major Estimate Revision • Jun 10
Consensus EPS estimates fall by 223% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₱21.6b to ₱21.2b. Losses expected to increase from ₱1.46 per share to ₱4.70. Media industry in Philippines expected to see average net income growth of 14% next year. Consensus price target down from ₱17.90 to ₱10.90. Share price fell 3.3% to ₱9.61 over the past week. Duyuru • May 30
ABS-CBN Corporation, Annual General Meeting, Jun 25, 2022 ABS-CBN Corporation, Annual General Meeting, Jun 25, 2022. Agenda: To consider Unaudited Interim Condensed Consolidated Financial Statements March 31, 2022 and for the Three Months Ended March 31, 2022 and 2021. Reported Earnings • May 18
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: ₱6.86 loss per share (up from ₱16.36 loss in FY 2020). Revenue: ₱17.8b (down 17% from FY 2020). Net loss: ₱5.64b (loss narrowed 58% from FY 2020). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 40%. Over the next year, revenue is forecast to grow 21%, compared to a 13% growth forecast for the industry in Philippines. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target increased to ₱17.90 Up from ₱15.10, the current price target is provided by 1 analyst. New target price is 42% above last closing price of ₱12.62. Stock is up 14% over the past year. The company is forecast to post a net loss per share of ₱4.91 next year compared to a net loss per share of ₱16.36 last year. Duyuru • Jan 27
Manuel Villar acquired TV Channel Frequencies of ABS-CBN Corporation (PSE:ABS). Manuel Villar acquired TV Channel Frequencies of ABS-CBN Corporation (PSE:ABS) of January 26, 2022.
Manuel Villar completed the acquisition of TV Channel Frequencies of ABS-CBN Corporation (PSE:ABS) of January 26, 2022. Price Target Changed • Dec 03
Price target increased to ₱17.90 Up from ₱15.10, the current price target is provided by 1 analyst. New target price is 39% above last closing price of ₱12.90. Stock is up 5.9% over the past year. The company is forecast to post a net loss per share of ₱4.90 next year compared to a net loss per share of ₱16.36 last year. Major Estimate Revision • Dec 03
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ₱20.3b to ₱18.3b. 2021 losses expected to reduce from -₱5.61 to -₱4.90 per share. Media industry in Philippines expected to see average net income growth of 14% next year. Consensus price target up from ₱15.10 to ₱17.90. Share price fell 5.8% to ₱12.90 over the past week. Reported Earnings • Nov 17
Third quarter 2021 earnings released: ₱0.37 loss per share (vs ₱4.05 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₱4.59b (up 23% from 3Q 2020). Net loss: ₱303.1m (loss narrowed 91% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ₱1.73 loss per share (vs ₱3.84 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: ₱4.24b (down 9.5% from 2Q 2020). Net loss: ₱1.42b (loss narrowed 55% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jun 23
Consensus revenue estimates fall to ₱20.3b The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ₱23.3b to ₱20.3b. Forecast losses increased from -₱1.00 to -₱5.60 per share. Media industry in Philippines expected to see average net income growth of 23% next year. Consensus price target down from ₱17.47 to ₱15.10. Share price was steady at ₱11.60 over the past week. Reported Earnings • Jun 11
First quarter 2021 earnings released: ₱2.38 loss per share (vs ₱0.93 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: ₱3.92b (down 55% from 1Q 2020). Net loss: ₱1.95b (loss widened 155% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 11
New 90-day low: ₱11.42 The company is down 6.0% from its price of ₱12.10 on 11 December 2020. The Filipino market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 6.0% over the same period. Duyuru • Mar 03
Greenergy Holdings Incorporated (PSE:GREEN) signed a letter of intent to acquire 51% stake in U-Pay Digital Technologies, Inc. from ABS-CBN Corporation (PSE:ABS) for PHP 54 million. Greenergy Holdings Incorporated (PSE:GREEN) signed a letter of intent to acquire 51% stake in U-Pay Digital Technologies, Inc. from ABS-CBN Corporation (PSE:ABS) for PHP 54 million on March 1, 2021. Under the terms of the transaction, Greenergy will acuqire 51 million shares in U-Pay for a consideration of PHP 54 million. Under the Term Sheet, the execution of the definitive agreements is conditioned on a satisfactory legal, financial and environmental, social and governance due diligence by Greenergy. Greenergy is given forty-five (45) days from execution of the Term Sheet within which to complete the due diligence. The transaction is subject to approvals of pertinent government authorities. Duyuru • Feb 02
ABS-CBN Corporation Announces Executive Changes ABS-CBN Corporation announced Ms. Olivia G. De Jesus retires as Head, Global effective January 31, 2021. Mr. Aldrin M. Cerrado is appointed as Head, Global effective February 1, 2021. Executive Departure • Feb 02
Head of Global & COO of ABS-CBN Global has left the company On the 31st of January, Olivia Finina De Jesus' tenure as Head of Global & COO of ABS-CBN Global ended after 2.6 years in the role. As of September 2020, Olivia Finina personally held only 20.00k shares (₱140k worth at the time). A total of 10 executives have left over the last 12 months. Major Estimate Revision • Dec 12
Analysts lower EPS estimates to -₱13.00 The 2020 consensus revenue estimate was lowered from ₱23.5b to ₱22.8b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -₱0.70 to -₱13.00 for the same period. The Media industry in Philippines is expected to see an average net income growth of 21% next year. The consensus price target increased from ₱11.60 to ₱17.47. Share price stayed mostly flat at ₱12.10 over the past week. Reported Earnings • Nov 17
Third quarter 2020 earnings released: ₱4.05 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ₱3.72b (down 67% from 3Q 2019). Net loss: ₱3.33b (down ₱4.14b from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 104% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Price Target Changed • Oct 16
Price target lowered to ₱11.60 Down from ₱14.00, the current price target is provided by 1 analyst. The new target price is close to the current share price of ₱12.12. As of last close, the stock is down 38% over the past year. Duyuru • Sep 24
ABS-CBN Corporation Announces Executive Changes ABS-CBN Corporation announced the resignation of Eugenio Lopez III as Chairman Emeritus and Director and Election of Atty. Mario L. Bautista as Director. Mr. Lopez also tendered his resignation as director of ABS-CBN Holdings Corporation, Sky Vision Corporation, Sky Cable Corporation, First Philippine Holdings Corporation, First Gen Corporation, and Rockwell Land Corporation effective immediately. The Board of Directors elected Mr. Mario Luza Bautista as Director of the Corporation to fill the vacancy created by the resignation of Mr. Lopez. Effective date as on September 24, 2020. Mr. Bautista has served as the General Counsel of the Company and a member of the Board of Advisors of the Company since 2011. He is also a Board Adviser of First Philippine Holdings Corporation. Duyuru • Aug 23
ABS-CBN Corporation Auditor Raises 'Going Concern' Doubt ABS-CBN Corporation filed its Annual on Aug 19, 2020 for the period ending Dec 31, 2019. In this report its auditor, SyCip Gorres Velayo & Co., gave an unqualified opinion expressing doubt that the company can continue as a going concern. Duyuru • Jul 17
ABS-CBN Corporation Announces Layoff of Workers ABS-CBN is now forced to cease the operations of some of its businesses and implement a retrenchment program covering ABS- CBN and its subsidiaries effective end of business day on 31 August 2020. The company are doing all the company can to mitigate the pain that will be felt by those affected, including paying out separation and retirement benefits and providing job placement programs. The loss of their jobs comes at a time when the uncertain and perilous impact of the COVID 19 pandemic further makes decision truly difficult, but inevitable. As much as it hurts to implement this retrenchment program, this is the only way to ensure the continued employment of the rest of Kapamilya.