Gannett Co Inc
For the period ended Feb 22, 2024. Filed Feb 22, 2024.
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Feb 22, 2024 · Filed Feb 22, 2024
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Contents
EX-99.1 · ADJUSTED EBITDA
ADJUSTED EBITDA
| Table No. 5 | Three months ended December 31, 2023 | ||||
|---|---|---|---|---|---|
| In thousands | Domestic Gannett Media | Newsquest | Digital Marketing Solutions | Corporate and other | Consolidated Total |
| Net income (loss) attributable to Gannett | $26,915 | $11,107 | $8,043 | $(68,957) | $(22,892) |
| Provision for income taxes | — | — | — | 21,581 | 21,581 |
| Interest expense | — | — | — | 26,969 | 26,969 |
| Gain on early extinguishment of debt | — | — | — | (1,316) | (1,316) |
| Non-operating pension income | (209) | (2,166) | — | — | (2,375) |
| Depreciation and amortization | 25,721 | 2,063 | 5,993 | 4,719 | 38,496 |
| Integration and reorganization costs | 3,248 | 677 | 182 | 1,902 | 6,009 |
| Other operating expenses | — | 215 | — | 507 | 722 |
| Loss (gain) on sale or disposal of assets, net | 703 | (29) | 92 | 2 | 768 |
| Share-based compensation expense | — | — | — | 3,840 | 3,840 |
| Other items | (280) | (538) | (1,815) | 4,937 | 2,304 |
| Adjusted EBITDA (non-GAAP basis) | $56,098 | $11,329 | $12,495 | $(5,816) | $74,106 |
| Net income (loss) attributable to Gannett margin | 5.1% | 19.1% | 6.7% | NM | (3.4)% |
| Adjusted EBITDA margin (non-GAAP basis) | 10.6% | 19.5% | 10.4% | NM | 11.1% |
| NM indicates not meaningful. | |||||
| Three months ended December 31, 2022 | |||||
| In thousands | Domestic Gannett Media | Newsquest | Digital Marketing Solutions | Corporate and other | Consolidated Total |
| Net income (loss) attributable to Gannett | $28,545 | $12,248 | $11,971 | $(19,997) | $32,767 |
| Benefit for income taxes | — | — | — | (31,300) | (31,300) |
| Interest expense | — | — | — | 28,526 | 28,526 |
| Gain on early extinguishment of debt | — | — | — | (2,663) | (2,663) |
| Non-operating pension income | (2,135) | (5,455) | — | — | (7,590) |
| Depreciation and amortization | 27,302 | 1,819 | 5,892 | 4,918 | 39,931 |
| Integration and reorganization costs | 16,839 | 1,021 | 233 | 9,427 | 27,520 |
| Other operating expenses | — | — | — | 227 | 227 |
| Asset impairments | 46 | — | — | — | 46 |
| Loss (gain) on sale or disposal of assets, net | 2,729 | — | 1 | (1) | 2,729 |
| Share-based compensation expense | — | — | — | 3,474 | 3,474 |
| Other items | (366) | (445) | (1,693) | (811) | (3,315) |
| Adjusted EBITDA (non-GAAP basis) | $72,960 | $9,188 | $16,404 | $(8,200) | $90,352 |
| Net income attributable to Gannett margin | 4.8% | 21.8% | 9.9% | NM | 4.5% |
| Adjusted EBITDA margin (non-GAAP basis) | 12.4% | 16.4% | 13.5% | NM | 12.4% |
| NM indicates not meaningful. | |||||
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