Gannett Q1 Loss Narrows, Revenues Down; Confirms FY25 Outlook; Stock Drops In Pre-market

(RTTNews) - Media company Gannett Co., Inc. (GCI), while reporting narrower net loss in its first quarter with weak revenues, on Thursday maintained fiscal 2025 outlook.

In pre-market activity on the NYSE, Gannett shares were losing around 2.5 percent to trade at $3.1200.

For fiscal 2025, the company continues to expect net income attributable and adjusted EBITDA to grow from the prior year.

Total revenues are expected to be down in the low single digits on a same store basis. Same store revenue trends are expected to grow on an overall basis during 2025.

Total digital revenues are expected to grow approximately 7 percent to 10 percent on a same store basis.

In the first quarter, net loss attributable to Gannett was $7.33 million or $0.05 per share, compared to prior year's loss of $84.77 million or $0.60 per share.

Adjusted net loss attributable was $13.06 million, compared to loss of $36.43 million a year ago.

Total revenues declined to $571.57 million from last year's $635.76 million.

The Wall Street analysts on average expect the company to record revenues of $593.1 million. Analysts' estimates typically exclude special items.

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