Gannett (GCI) Misses Q4 EPS by 22c, provides guidance

Gannett (NYSE: GCI) reported Q4 EPS of ($0.16), $0.22 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $669.4 million versus the consensus estimate of $676.22 million.

Full Year 2024 Business Outlook

Total digital revenues are expected to grow approximately 10%
Total revenues are expected to be down in the low to mid-single digits on a reported and same store basis
Net income attributable to Gannett is expected to improve, after excluding an impairment charge of approximately $45 million related to the exit of our McLean, Virginia office during the first quarter of 2024
Adjusted EBITDA(6) is expected to grow versus the prior year
Cash provided by operating activities is expected to grow versus the prior year
Free cash flow(6) is expected to grow in excess(7) of the expected growth in Adjusted EBITDA(6)
Real estate and non-strategic asset sales are expected to be in the range of $45 million and $50 million

For earnings history and earnings-related data on Gannett (GCI) click here.

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