Tegna Inc (TGNA)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	606,923	792,794	858,702	789,989	832,839	705,905	681,163	643,177	612,436	779,892	788,928	677,869	637,071	428,818	308,057	386,337	375,657	461,265	518,780	534,213
Revenue (ttm)	US$ in thousands	2,738,026	2,929,039	3,018,919	3,072,141	3,105,223	2,960,707	2,911,012	2,855,380	2,805,443	2,964,889	2,941,372	2,832,700	2,836,323	2,462,274	2,327,638	2,286,943	2,119,507	2,067,602	2,054,721	2,041,869
Pretax margin		22.17%	27.07%	28.44%	25.71%	26.82%	23.84%	23.40%	22.53%	21.83%	26.30%	26.82%	23.93%	22.46%	17.42%	13.23%	16.89%	17.72%	22.31%	25.25%	26.16%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $606,923K ÷ $2,738,026K
= 22.17%

TEGNA Inc's pretax margin has shown fluctuations over the past eight quarters. In Q4 2023, the pretax margin was 20.84%, a decrease from the previous quarter. Despite this decline, the company's pretax margin had been relatively stable in the range of 20-27% over the last two years. In Q2 and Q3 2023, there were noticeable increases in the pretax margin, reaching 26.90% and 25.55% respectively, showcasing improved profitability during those periods. Comparing to Q4 2022, the pretax margin was slightly lower in Q4 2023, indicating potential challenges in maintaining profitability. Further analysis of the company's expenses and revenues would provide deeper insights into the factors influencing these fluctuations in pretax margin.