NYSE$TDAY
USA TODAY Co Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported significant improvement to the bottom line, along with sustained growth in both Adjusted EBITDA and total digital revenues.
Gannett Co., Inc. reported its financial results for the third quarter ended September 30, 2023, with significant improvement to its bottom line, sustained growth in Adjusted EBITDA and total digital revenues. The company repaid $65 million of debt, reducing its first lien net leverage to below 2.0x and maintained a strong liquidity position with $109 million of cash. Total digital revenues surpassed 40% of total revenues, growing 3% year-over-year on a same store basis.
- Operating Income of $34.9 million; Net Loss Attributable to Gannett of $2.6 million
- Adjusted EBITDA of $59.5 million, up 15% Year-over-Year
- Cash Provided by Operating Activities of $20.6 million; Free Cash Flow of $7.4 million
- Repaid $65.3 million in Debt; First Lien Net Leverage Below 2.0x
Headline financials
Revenue & EPS history
Gannett · Revenue · Quarterly
$653M
Forward guidance
The Company is adjusting its full year 2023 outlook with respect to revenues, net income (loss) attributable to Gannett, cash provided by operating activities, same store total revenues year-over-year, free cash flow, and Adjusted EBITDA. The Company is reiterating its full year 2023 outlook with respect to first lien net leverage.
Tailwinds
- Revenues $2.65B to $2.67B
- Same store total revenues Year-Over-Year (9%) to (8%)
- Net income (loss) attributable to Gannett ($20M) to $0M
- Cash provided by operating activities $105M to $125M
- Free cash flow $65M to $85M
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 Q3 2023
-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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