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Sep 30, 2021
Gannett Q3 2021 Earnings Report
Reported third quarter results with record digital-only subscriber growth and continued growth in digital marketing solutions.
Key Takeaways
Gannett's third quarter 2021 results showed a 46% increase in digital-only subscribers, reaching over 1.5 million, and a 16.5% growth in Digital Marketing Solutions revenue. The company's adjusted EBITDA increased by 16.0% compared to the prior year, and same store revenues increased by 0.9%.
Achieved record digital-only subscriber growth of 46% to over 1.5 million paid subscribers.
Digital Marketing Solutions revenue increased 16.5% over the prior year on a same store basis.
Same store revenues increased 0.9% compared to the third quarter of 2020.
Adjusted EBITDA totaled $102.1 million, an increase of 16.0% compared to the third quarter of 2020.
Forward Guidance
Gannett is targeting First Lien Net Leverage of 1.0x by the end of 2022 and believes shareholder value is achievable through the execution of their long-term strategy.
Positive Outlook
- Long-term vision for growth at Gannett
- Strong growth in digital-only circulation
- Strong growth in digital marketing solutions
- Evolution to a digitally focused content platform
- Early momentum of subscription-led strategy
Historical Earnings Impact
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Avg. Return Before/After Earnings
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