Gannett(US:GCI)2025-05-01 12:06Financial Performance - Total revenues for Q1 2025 were $571.6 million, a decrease of 10.1% year-over-year, with same store revenues down 7.7%[6] - Total revenues for Q1 2025 were $571.573 million, a decrease of 10.1% from $635.761 million in Q1 2024[16] - For the three months ended March 31, 2025, Gannett reported a consolidated total revenue of $571.573 million, a decrease of 10.1% compared to $635.761 million in the same period of 2024[31] - Digital revenues totaled $250.4 million, with digital advertising revenues at $83.4 million and digital-only subscription revenues at $43.3 million[6] - Digital revenues decreased to $250.394 million, down 6.5% from $267.499 million year-over-year[16] - Digital revenues for Q1 2025 were $250.394 million, down 6.4% from $267.499 million in Q1 2024[31] - Print and commercial revenues fell to $321.179 million, a decline of 12.8% compared to $368.262 million in the same period last year[16] Profitability and Loss - Net loss attributable to Gannett improved by $77.4 million to $7.3 million in Q1 2025[6] - The net loss attributable to Gannett for Q1 2025 was $7.333 million, an improvement from a net loss of $84.768 million in Q1 2024[29] - Operating income for Q1 2025 was $9.778 million, a significant improvement from a loss of $49.886 million in Q1 2024[16] - The company reported a basic loss per share of $0.05 for Q1 2025, improved from a loss of $0.60 per share in Q1 2024[16] Cash Flow and Liquidity - Free cash flow increased by 7.6% to $10.2 million in Q1 2025[6] - Free cash flow for the three months ended March 31, 2025, was $10.168 million, compared to $9.452 million in the same period of 2024[30] - Cash provided by operating activities was $23.308 million, slightly up from $22.451 million in Q1 2024[17] - Cash provided by operating activities is expected to grow in excess of 30% compared to the prior year[10] - Free cash flow is projected to grow in excess of 40% compared to the prior year[10] Debt and Leverage - The company repaid approximately $75 million of debt in Q1 2025, reducing first lien net leverage to 2.6x, a decrease of 4.8% sequentially[10] - Long-term debt was reduced to $689.945 million, a decrease from $755.754 million at the end of 2024[15] Digital Metrics - Average monthly unique visitors reached 195 million, growing by 4.7% year-over-year[6] - Digital-only average revenue per user (ARPU) for Domestic Gannett Media was $7.31 in Q1 2025, slightly up from $7.28 in Q1 2024[35] - The number of digital-only paid subscriptions for Total Gannett decreased by 4% to 1,931 in Q1 2025 from 2,017 in Q1 2024[35] Future Outlook - Full year 2025 digital revenues are expected to grow approximately 7%-10% on a same store basis, making up 50% of total revenues[10] - Gannett's outlook for full year 2025 includes non-GAAP measures such as Same store revenues and Adjusted EBITDA, but does not factor in future acquisitions or dispositions[26] Cost Management - Integration and reorganization costs for Q1 2025 were $9.498 million, compared to $17.881 million in Q1 2024[29] Assets and Liabilities - Total assets decreased to $1.951 billion as of March 31, 2025, down from $2.040 billion at the end of 2024[15] - Total liabilities decreased to $1.802 billion, down from $1.888 billion at the end of 2024[15]