Gannett (GCI) Tops Q1 EPS by 5c

Gannett (NYSE: GCI) reported Q1 EPS of $0.10, $0.05 better than the analyst estimate of $0.05. Revenue for the quarter came in at $663.4 million versus the consensus estimate of $675.03 million.

GUIDANCE:

Gannett sees FY2019 revenue of $2.74-2.81 billion, versus the consensus of $2.76 billion.

• Consolidated Adjusted EBITDA outlook of $285-295 million, including roughly $8 million of one-time costs associated with the CEO transition.
• Capital expenditures of $50-60 million, excluding real estate projects.
• Depreciation and amortization of $150-160 million, excluding accelerated depreciation related to facility consolidations.
• The non-operating cost associated with our pension plans, recorded in other non-operating items, is currently estimated to be between $20-25 million as compared to a credit of $5 million in 2018.
• A non-GAAP effective tax rate of 28-30%.(3)

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

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