Liberty Media Corp. (LMCA) reported earnings per share of 21 cents, a penny above the Zacks Consensus Estimate. Quarterly GAAP net income was $143.1 million compared with $65.2 million in the year-ago quarter.
Quarterly total revenue came in at $1,095 million as against $1,025 million in the prior-year quarter. However, the figure missed the Zacks Consensus Estimate of $1,096 million by a narrow margin.
In the fourth quarter of 2014, Liberty Media’s adjusted operating income before depreciation and amortization came in at $359 million compared with $319 million in the year-ago quarter. Quarterly operating income was $206 million as against $189 million in the prior-year quarter. Adjusted EBITDA stood at $381 million, up 17% from the year-ago quarter figure.
For full-year 2014, Liberty Media generated $1236 million of cash from operations compared with $1,125 million in the prior-year period. Free cash flow in the reported period was $330.7 million against $303.2 million in the the fourth quarter of 2013.
At the end of the fourth quarter of 2014, Liberty Media had $1,088 million of cash and cash equivalents against $688 million at the end of 2013. Total long-term debt, at end-2014, was $5,595 million compared with $4,778 million at the end of 2013. At fourth-quarter end, the debt-to-capitalization ratio stood at 0.21 compared with 0.16 at the end of 2013.
Liberty Media currently has a Zacks Rank #5 (Sell). The company holds a 27.3% stake in pay-TV operator Charter Communications Inc. (CHTR) and a 56% stake in satellite radio broadcaster SIRIUS XM Radio Inc. (SIRI). Moreover, Liberty Media recently announced its decision to raise its ownership in concert promoter Live Nation Entertainment Inc. (LYV) from the present 27%.
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