Gannett Q4 net loss $22.9M vs prior profit; digital revenue grows 2.9% to 41.4% of total

USA TODAY Co., Inc.

2023-FY EPS reported -$0.20 revenue$2,663,550,000

Q4 total revenues $669.4M (-8.4% YoY); net loss $22.9M vs net income $32.8M in Q4 2022.
Digital revenues $277.1M (41.4% of total), up 2.9%; digital-only sub rev $41.9M (+18.1%).
Full-year 2023 debt repayments $141.6M; total debt $1,130.6M; First Lien Net Leverage 2.0x (from 2.7x).
FY2024 outlook: digital rev +10%; total rev down low-mid single digits; Adj EBITDA growth.
Mid-term 2025-26: digital rev >55% of total; total rev low single-digit growth; FCF CAGR 40%.

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 0.95

USA TODAY Co., Inc. reported the fourth quarter ended December 31, 2023 results: revenue $669.4 million, net income Net loss attributable to Gannett of $22.9 million.

Period: the fourth quarter ended December 31, 2023
Revenue: $669.4 million
Net income: Net loss attributable to Gannett of $22.9 million
Result: reported results

Exact text from the filing

(8) of 30% • Free cash flow (6) is expected to grow at an accelerated rate with an estimated CAGR (6)(8) of 40% Additional Fourth Quarter 2023 Highlights: • Total revenues of $669.4 million decreased 8.4% compared to the fourth quarter of 2022 ◦ Same store revenues (6) decreased 8.0% compared to the fourth quarter of 2022, reflecting a sequential improvement of 40

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Source: SEC EDGAR

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