Gannett Co Inc reports results for the quarter ended in June - Earnings Summary

USA TODAY Co

01/08/2024 15:23

* Gannett Co Inc  GCI.N  reported quarterly adjusted
earnings of 9
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -9
cents.  The mean expectation of four analysts for the quarter
was for a loss of 6 cents per share. Wall Street expected
results to range from -14 cents to 4 cents per share.
    * Revenue fell 4.8% to $639.84 million from a year ago;
analysts
expected $645.02 million. 
    * Gannett Co Inc's reported EPS for the quarter was 9
cents​.
    * The company reported quarterly net income of $13.75
million.
    * Gannett Co Inc shares had risen by 6.5% this quarter and
gained 113.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 259.9% in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the consumer
publishing
peer group is  "hold."

Wall Street's median 12-month price target for Gannett Co Inc is
$5.55 
This summary was machine generated from LSEG data August 1 at
02:23 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.06          0.09           Beat
 Mar. 31 2024      -0.36          -0.60          Missed
 Dec. 31 2023      0.06           -0.16          Missed
 Sep. 30 2023      -0.01          -0.02          Missed