Gannett Q3 net loss narrows to $2.6M; Adj EBITDA up 15% YoY; repaid $65M debt

USA TODAY Co., Inc.

2023-Q3 EPS reported -$0.04 revenue$1,994,145,000

Net loss attributable to Gannett of $2.6M improved $51.5M from $54.1M loss in Q3 2022.
Adjusted EBITDA of $59.5M, up 14.7% YoY; margin expanded 190 bps to 9.1%.
Total revenues $652.9M, down 9.1% YoY; digital revenues $263.6M (40.4% of total), up 2.7% same-store YoY.
Repaid $65.3M in debt; first lien net leverage below 2.0x; cash balance $109M.
Free cash flow $7.4M; 'updated full year outlook' noted but no specific guidance figures provided.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

USA TODAY Co., Inc. reported the third quarter ended September 30, 2023 results: revenue $652.9 million, net income Net loss attributable to Gannett of $2.6 million.

Period: the third quarter ended September 30, 2023
Revenue: $652.9 million
Net income: Net loss attributable to Gannett of $2.6 million
Result: reported results

Exact text from the filing

areas in 2024 and beyond, and remain optimistic about creating sustainable growth and significant value for our shareholders." Third Quarter 2023 Highlights: • Total revenues of $652.9 million decreased 9.1% compared to the third quarter of 2022 ◦ Same store revenues (1) decreased 8.4% compared to the third quarter of 2022, as compared to a decrease of 8.6% in the

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Source: SEC EDGAR

accession 0001579684-23-000040

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