- Gannett Co Inc GCI reported a first-quarter FY22 sales decline of 3.7% year-on-year to $748.08 billion, missing the consensus of $754.90 million. Same-store revenues decreased 2.5%.
- Publishing revenues were $670.4 million, and Digital Marketing Solutions revenues were $109.7 million.
- Advertising and marketing services revenues decreased 3.4%, while Circulation revenues declined 11.3%.
- Digital revenues rose 9.7%, and Digital Marketing Solutions' revenue improved 8.2% on a same-store basis.
- Digital-only paid subscribers increased 44% Y/Y and surpassed 1.75 million at the end of Q1.
- Operating expenses fell by 2.5% Y/Y to $750.5 million. The operating loss for the quarter was $(1.9) million versus an income of $7.9 million last year.
- Adjusted EBITDA decreased 36.1% Y/Y to $64.2 million and represented an 8.6% margin.
- EPS loss of $(0.02) narrowed from $(1.06) last year. Adjusted net income attributable was $4.5 million.
- GCI held $152.2 million in cash and equivalents as of March 31, 2022. Net cash provided by operating activities for the quarter amounted to $32.4 million with a free cash flow of $21.7 million.
- Outlook: Gannett sees Q2 sales of $780 million - $790 million versus the consensus of $788.7 million.
- It expects FY22 sales of $3.1 billion - $3.2 billion, against the consensus of $3.12 billion.
- Price Action: GCI shares are trading lower by 5.24% at $3.98 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in