Gannett Q2 2023: Adj. EBITDA +40% YoY to $71.2M; Raises full-year outlook

USA TODAY Co., Inc.

2023-Q2 EPS reported -$0.02 revenue$1,341,274,000

Total revenues $672.4M (-10.2% YoY); same-store revenue -8.6%, a 70 bps sequential improvement.
Net loss attributable to Gannett narrowed to $12.7M from $53.7M; adjusted net loss $6.0M.
Digital revenues were $262.1M (39.0% of total), returning to growth; digital-only ARPU up 6% to $6.35.
Free cash flow $38.4M (+189% YoY); repaid $15M debt; first lien net leverage reduced to 2.26x.
Company raised full-year guidance for Adjusted EBITDA and free cash flow.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

USA TODAY Co., Inc. reported the second quarter ended June 30, 2023 results: revenue $672.4 million, net income Net loss attributable to Gannett of $12.7 million. Guidance raised.

Period: the second quarter ended June 30, 2023
Revenue: $672.4 million
Net income: Net loss attributable to Gannett of $12.7 million
Guidance: raised
Result: reported results

Exact text from the filing

Net Loss Attributable to Gannett of $12.7 million • Adjusted EBITDA (1) of $71.2 million, up 40% Year-over-Year • Cash Provided by Operating Activities of $46.1 million, up 250% Year-over-Year, Free Cash Flow (1) of $38.4 million, up 189% Year-over-Year Total Digital Revenues returned to growth in Q2; expect further improvement to digital growth trend in Q3 Improving Digital-only subscription monetization; Digital-only ARPU (2) up 6% Year-over-Year to $6.35 DMS achieved record high core platform revenues (3) and ARPU (2) ; sequential improvement to customer count (2) MCLEAN, VA — August 3, 2023 — Gannett Co., Inc.

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Source: SEC EDGAR

accession 0001579684-23-000031

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