Gannett posts Q2 net income of $13.7M, Adj. EBITDA $74.6M, digital revenue up 6.2% YoY

USA TODAY Co., Inc.

2024-Q2 EPS reported -$0.50 revenue$1,275,601,000

Total revenues $639.8M (-4.8% YoY); same-store revenue declines improved for 6th straight quarter.
Digital revenues $278.4M (43.5% of total), up 6.2% YoY; digital-only subs 2.03M (+4.2% YoY).
Net income attributable to Gannett of $13.7M, improved $26.4M YoY; Adjusted net income $29.1M.
Adjusted EBITDA $74.6M, up $17.0M from Q1; free cash flow $25.4M, sequential improvement.
Repaid $24.3M debt in Q2; total net debt below $1.0B for first time since 2019; guidance reiterated.

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