NYSE$TDAY
USA TODAY Co Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported first quarter results, with digital-only paid subscriber growth and digital marketing solutions core platform revenues increasing year-over-year.
Gannett's first quarter performance exceeded expectations, driven by strong growth in digital-only circulation and digital marketing solutions. The company is reiterating its full year guidance for 2022, with digital revenues accounting for more than one-third of total revenues. Gannett continues to focus on its digital transformation, aiming to generate significant free cash flow and improve its balance sheet.
- Digital-only paid subscribers increased 44% year-over-year, surpassing 1.75 million.
- Digital Marketing Solutions core platform revenues rose 14% year-over-year to $107.3 million.
- Total digital revenues grew 9% year-over-year, representing 34% of total revenues.
- The company is reiterating its full year guidance for 2022.
Headline financials
Revenue & EPS history
Gannett · Revenue · Quarterly
$748M
Forward guidance
Gannett provided its outlook for the second quarter and full year 2022, including revenue, net income, cash flow, and adjusted EBITDA estimates. The company expects revenue between $780 million and $790 million for Q2 2022 and $3.1 billion to $3.2 billion for the full year. Ending digital-only subscribers are expected to reach 1.85 million+ in Q2 and 2.0 million to 2.2 million for the full year.
Tailwinds
- Revenue between $780M to $790M for Q2 2022 and $3.1B to $3.2B for FY 2022.
- Net income attributable to Gannett is expected to be ~$0M for Q2 2022 and $50M to $70M for FY 2022.
- Cash provided by operating activities is expected to be ~$5M for Q2 2022 and $205M to $225M for FY 2022.
- Adjusted EBITDA is expected to be $80M to $85M for Q2 2022 and $380M to $400M for FY 2022.
- Ending digital-only subscribers are expected to be 1.85M+ for Q2 2022 and 2.0M to 2.2M for FY 2022.
Headwinds
- Same-store total revenues are expected to decrease by (3)% to (1)% year-over-year for Q2 2022 and increase by (2)% to +1% for FY 2022.
- Free cash flow is expected to be ($10M) to ($5M) for Q2 2022 and $160M to $180M for FY 2022.
- The outlook does not factor in the impact of any future acquisitions or dispositions.
- The company is unable to predict with reasonable certainty those items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort.
- Capital expenditures are assumed at $40 million to $45 million for full year 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.7%
Avg return
Earnings day
-0.8%
Avg return
5 days after
+6.7%
Avg return
30 days after
47%
22 / 47 earnings
Positive
+31.5%
Q1 2024
Best reaction
-28.1%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | -1.1% | +7.4% | |
| Q3 2025 | +28.4% | +23.8% | +21.9% | |
| Q1 2025 | -3.4% | -1.6% | +10.6% | |
| Q4 2024 | -3.7% | -15.8% | -36.3% | |
| Q3 2024 | -19.4% | -14.5% | -10.7% | |
| Q2 2024 | -12.8% | -10.2% | +7.7% | |
| Q1 2024 | +31.5% | +33.2% | +56.0% | |
| Q4 2023 | -6.3% | -2.7% | +0.5% | |
| Q3 2023 | -14.8% | -15.2% | -16.1% | |
| Q2 2023 | +17.1% | +26.2% | +7.3% | |
| Q1 2023 | +1.5% | -2.0% | +13.6% | |
| Q4 2022 | +17.8% | +17.4% | -29.1% | |
| Q3 2022 | +23.0% | +31.1% | +74.3% | |
| Q2 2022 | -26.5% | -26.2% | -28.7% | |
| Q1 2022 | -8.8% | -11.7% | -7.9% | |
| Q4 2021 | -5.6% | -12.4% | -13.2% | |
| Q3 2021 | -7.1% | -13.7% | -21.1% | |
| Q2 2021 | +11.4% | +11.0% | +15.7% | |
| Q1 2021 | -4.0% | -1.3% | +12.4% | |
| Q4 2020 | -11.8% | -2.7% | -4.6% | |
| Q3 2020 | +12.3% | +20.2% | +148.2% | |
| Q2 2020 | -7.8% | +6.0% | +10.2% | |
| Q1 2020 | +1.9% | +3.7% | +162.6% | |
| Q4 2019 | -14.1% | -18.6% | -59.3% | |
| Q3 2019 | -3.5% | -11.1% | -23.3% | |
| Q2 2019 | -28.1% | -18.3% | -8.2% | |
| Q1 2019 | -3.8% | -3.1% | -13.7% | |
| Q4 2018 | +0.7% | +0.9% | -16.0% | |
| Q3 2018 | -2.4% | -3.8% | -12.1% | |
| Q2 2018 | -1.8% | -1.3% | -1.8% | |
| Q1 2018 | +2.3% | -1.1% | +6.2% | |
| Q4 2017 | -1.6% | +0.4% | +9.3% | |
| Q3 2017 | +2.2% | -0.1% | +12.4% | |
| Q2 2017 | +1.9% | -1.5% | +4.4% | |
| Q1 2017 | +2.8% | -7.6% | -10.9% | |
| Q4 2016 | +2.1% | +1.8% | -4.9% | |
| Q3 2016 | +1.0% | +0.8% | +11.3% | |
| Q2 2016 | -9.1% | -10.6% | -21.3% | |
| Q1 2016 | +1.2% | — | — | |
| Q4 2015 | +1.5% | — | — | |
| Q3 2015 | -6.5% | — | — | |
| Q2 2015 | +8.6% | — | — | |
| Q1 2015 | +0.5% | — | — | |
| Q4 2014 | +2.4% | — | — | |
| Q3 2014 | -1.3% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q1 2014 | -1.1% | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — |
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