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Jun 30, 2025
Gannett Q2 2025 Earnings Report
Gannett reported sequential improvement across key financial metrics in Q2 2025, including Total Adjusted EBITDA, net income, cash provided by operating activities, free cash flow, and cash balance.
Key Takeaways
Gannett delivered sequential improvement in key financial metrics in the second quarter of 2025, with Total Adjusted EBITDA margins expanding to 11% and net income attributable to Gannett increasing significantly. The company saw meaningful improvement in digital advertising trends, which grew by 4% in Q2, and expects further improvement in the third quarter. Debt repayment remains a high priority, with $23.4 million repaid in the quarter and a projection to exceed $135 million by year-end 2025.
Total revenues for Q2 2025 were $584.861 million, with net income attributable to Gannett at $78.391 million.
Digital advertising trends improved significantly, moving from a decline in Q1 to a 4% increase in Q2, with expectations for continued improvement.
The company repaid $23.4 million of debt in Q2 2025, contributing to approximately $100 million repaid in the first six months of 2025, and expects to exceed $135 million by year-end.
Gannett is implementing targeted annualized expense reductions of approximately $100 million to create a lower and more variable cost structure, aiming for increased margins and Total Adjusted EBITDA growth in the second half of the year and full year 2026.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Gannett is updating its full year 2025 outlook, factoring in the sale of the Austin American-Statesman. The company expects continued improvement in digital advertising trends, Total Adjusted EBITDA growth in the second half of the year and for full year 2026, and plans to exceed its initial debt repayment projections.
Positive Outlook
- Expectation for further improvement in digital advertising trends in the third quarter.
- Anticipated Total Adjusted EBITDA growth in the back half of 2025 and for the full year 2026.
- Implementation of approximately $100 million in targeted annualized expense reductions to improve margins.
- Expectation to exceed initial debt repayment projections, repaying over $135 million by the end of 2025.
- Meaningful traction in AI initiatives, including a licensing deal with Perplexity and launching generative AI answer engines.
Challenges Ahead
- Capital expenditures are expected to increase due to investments in technology and products.
- The outlook does not factor in the impact of any possible future acquisitions or dispositions, which could alter results.
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