Gannett Co., Inc. ( (GCI) ) has released its Q3 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 digital and print media sectors, offering news and marketing solutions through its extensive portfolio, including USA TODAY NETWORK and digital marketing brand LocaliQ. The company reported its third-quarter 2024 financial results, highlighting significant growth in digital revenues, a record audience reach, and strategic debt refinancing. Key financial metrics included a 5.6% increase in Adjusted EBITDA and a 168% rise in free cash flow year-over-year, despite a 6.2% decline in total revenues due to strategic business closures. Digital revenues reached an all-time high, surpassing 45% of total revenues, while digital-only subscription and advertising revenues also saw notable increases. Gannett’s strategic debt refinancing improved its capital structure and reduced share dilution, with expectations of continued growth in digital revenues and Adjusted EBITDA into 2025 and 2026. Looking forward, Gannett anticipates sustainable growth across key financial metrics and significant value creation for shareholders, supported by its strong digital platform performance and strategic financial management.
