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Dec 31, 2020
Gannett Q4 2020 Earnings Report
Reported strong revenue and Adjusted EBITDA performance, reduced debt, and increased digital-only subscriptions.
Key Takeaways
Gannett Co., Inc. reported strong fourth quarter results with revenue of $875.4 million. The company achieved significant cost and debt reductions and surpassed one million digital subscribers. They enter 2021 with good momentum, prepared to implement their subscription-led growth plan.
Fourth quarter revenues rose 25.2% as compared to the prior year quarter reflecting the acquisition of Legacy Gannett.
Digital advertising and marketing services revenues reached $223.3 million in the fourth quarter, or 25.5% of total revenues.
Net loss attributable to Gannett of $122.2 million in the fourth quarter reflects a $74.3 million non-cash loss on the derivative associated with our convertible notes and a $42.1 million loss associated with the early extinguishment of debt.
Adjusted EBITDA totaled $148.8 million, an increase of 50.6% compared to the prior year and represented a 17.0% margin.
Forward Guidance
Gannett expects significant stockholder value in the coming years by driving increased revenues from digital products, bringing our Company’s total revenue trend back toward growth, and allowing us to continue significant debt reduction.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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