Gannett Announces 2017 Full-Year Guidance
March 07 2017 - 7:00AM
Business Wire
Gannett Co., Inc. (NYSE: GCI) announced today its 2017 full-year
guidance ahead of a presentation at the Deutsche Bank 2017 Media
& Telecom conference in Palm Beach, Florida. The presentation
begins at 10:25 a.m. (ET).
The 2017 full-year guidance is as follows:
- 2017 full-year revenues in a range of
$3.15 billion to $3.22 billion;
- Adjusted EBITDA* in a range of $325
million to $335 million;
- Capital expenditures of approximately
$65 to $75 million, not including real estate projects;
- Depreciation and amortization of
approximately $150 to $155 million; and
- An effective tax rate of 28% to
32%.
Robert J. Dickey, president and chief executive officer,
provided the following commentary on the 2017 outlook:
“As we evolve the company toward a next-generation, digitally
focused model, we anticipate realizing the benefits from our cost
transformation projects, including continued synergies related to
acquisitions. While we anticipate more challenging year-over-year
comparisons in the first half of this year due to certain strategic
investments and the negative impact resulting from the weaker
British pound, we expect our cost operational improvements to more
meaningfully impact the second half of the year.”
Those interested in listening to a webcast of the presentation
can find a link on the IR section of the Gannett website at
investors.gannett.com. A replay of the webcast will be available on
the website for following the presentation.
*The company defines Adjusted EBITDA as earnings before income
taxes, equity income, other non-operating items (which include
interest income and interest expense, among other items), severance
related charges including early retirement programs, asset
impairment charges, depreciation and amortization. Because of the
variability of these and other items as well as the impact of
future events on these items, management is unable to reconcile
without unreasonable effort the Company's forecasted range of
adjusted EBITDA for the full year to a comparable GAAP range.
About Gannett
Gannett Co., Inc. (NYSE: GCI) is a next-generation media
company committed to strengthening communities across our network.
Through trusted, compelling content and unmatched local-to-national
reach, Gannett touches the lives of more than 110 million people
monthly. With more than 120 markets internationally, it is known
for Pulitzer Prize-winning newsrooms, powerhouse brands such as USA
TODAY and specialized media properties. To connect with us, visit
www.gannett.com.
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Gannett Co., Inc.For investor inquiries, contact:Michael
P. DickersonVice President, Investor Relations & Real
Estate703-854-6185mdickerson@gannett.comorFor media inquiries,
contact:Amber AllmanVice President, Corporate Events &
Communications703-854-5358aallman@gannett.com
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