Sirius XM reiterates FY24 revenue view $8.75B, consensus $8.79B

Reiterates FY24 adjusted EBITDA view of approximate $2.7B and free cash flow of approximately $1.2B. The company’s guidance for adjusted EBITDA and free cash flow for 2024 does not include any effects of the proposed transaction with Liberty Media, anticipated to close during the third quarter of 2024. The company expects to revise its 2024 free cash flow guidance following the closing of the Liberty Media transaction.