McClatchy Company (MNI) Reports Q3 Loss of $38.43/Share
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McClatchy Reports Third Quarter 2019 Results
November 13, 2019 9:00 AM ESTSACRAMENTO, Calif., Nov. 13, 2019 /PRNewswire/ -- McClatchy (NYSE American-MNI) today reported a net loss in the third quarter of 2019 of $304.7 million, or $38.43 per share including a non-cash charge of $295.3 million for impairment of goodwill and masthead intangible assets. This compares to net income of $7 million, or $0.90 per share in the third quarter of 2018.Â
"Although still facing headwinds, we are pleased to report 4.6% growth in adjusted EBITDA in the third quarter of 2019 -- the first increase in eight years," said Craig Forman, McClatchy's President and CEO. "The adjusted EBITDA trend also improved sequentially, swinging to growth from... More
