Gannett Co., Inc. ( (GCI) ) has released its Q1 earnings. Here is a breakdown of the information Gannett Co., Inc. presented to its investors.
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Gannett Co., Inc. is a diversified media company that operates in the media and digital marketing solutions sector, known for its expansive reach through trusted brands like USA TODAY and Newsquest in the UK, providing journalism and digital experiences to audiences and businesses.
In its fourth quarter 2024 earnings report, Gannett Co., Inc. highlighted significant progress in its digital transformation strategy, with digital revenues surpassing 45% of total revenues, amounting to over $1.1 billion for the year. The company also reported growth in audience engagement and digital revenues through diversified channels.
Key financial metrics from the report include a 5.5% increase in Adjusted EBITDA and a 17% growth in digital-only subscription revenues. Despite a 7.2% decrease in total revenues due to the sale or shutdown of non-strategic assets, Gannett achieved a net income of $64.3 million, marking a significant improvement from the previous year. The company also made strides in debt reduction, repaying $73.5 million of debt.
Looking forward to 2025, Gannett’s management remains optimistic, expecting to continue building on its digital transformation with projected growth in total digital revenues and Adjusted EBITDA. The company aims for significant free cash flow generation and further debt reduction, positioning itself to create meaningful value for shareholders and the communities it serves.