Gannett Co. Q1 Loss Decreases, Beats Estimates; Updates Revenue Outlook - Update

(Adds Outlook)

Gannett Co. (GCI) revealed Loss for first quarter that decreased from the same period last year and beat the Street estimates.

The company's earnings came in at -$2.97 million, or -$0.02 per share. This compares with -$142.32 million, or -$1.06 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.7% to $748.08 million from $777.08 million last year.


Gannett confirmed its earnings outlook for full year 2022 of $50 million-$70 million.

The company also adjusted its revenue outlook to $3.1 billion-$3.2 billion compared with $3.07 billion-$3.16 billion provided earlier, to reflect the impact of
recent acquisitions.

Gannett Co. earnings at a glance (GAAP) :

-Earnings (Q1): -$2.97 Mln. vs. -$142.32 Mln. last year.
-EPS (Q1): -$0.02 vs. -$1.06 last year.
-Analyst Estimates: -$0.07
-Revenue (Q1): $748.08 Mln vs. $777.08 Mln last year.

Next quarter revenue guidance: $780 -$790 Mln
Full year revenue guidance: $3.1 - $3.2 Bln

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