Tegna Inc (TGNA)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	550,343	937,590	746,127	787,683	505,262
Revenue	US$ in thousands	2,738,030	3,105,220	2,805,440	2,727,490	2,119,510
Gross profit margin		20.10%	30.19%	26.60%	28.88%	23.84%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $550,343K ÷ $2,738,030K
= 20.10%

TEGNA Inc's gross profit margin has exhibited fluctuations over the past five years. In 2023, the gross profit margin stood at 40.95%, a decrease from the previous year's figure of 48.37%. This decline suggests a decrease in the percentage of revenue retained after accounting for the cost of goods sold.

Comparing 2023 to 2021 and 2020, the gross profit margin also decreased from 46.55% and 48.83% respectively. This downward trend indicates potential challenges in managing production costs or pricing strategies during these periods.

However, when comparing the 2023 gross profit margin to 2019, there was a slight improvement from 46.59% to 40.95%. Despite this increase, the company's margins remain lower in 2023 compared to earlier years.

Overall, TEGNA Inc's gross profit margin has shown variability in recent years, reflecting changes in operational efficiency and pricing strategies that may impact the company's profitability. Further analysis of cost management and revenue generation strategies would provide deeper insights into the factors influencing these fluctuations.