×
News Home

Gannett Co. Inc Down 28.53% To $2.31 After Earnings Miss

Thursday, August 04, 2022 12:32 PM | InvestorsObserver Analysts
Gannett Co. Inc Down 28.53% To $2.31 After Earnings Miss

Gannett Co Inc (GCI) missed earnings projections on 8/4/2022 for Q2 2022.

Analyst expectations for Gannett Co. Inc earnings per share (EPS) were at $0.03, with the company missing those estimates with a reported EPS loss of $0.20 per share, leading to a negative surprise of $0.23 per share (-767%). Gannett Co. Inc's earnings were down 254% year-over-year as the firm reported an EPS of $0.13 in its year-ago quarter. The negative annual growth shows the Communication Services company isn't performing well amid current economic conditions.

Consensus analyst estimates were at $788.1 million. The Communication Services company missed on those expectations for its second quarter with revenue of $748.7 million, a negative revenue surprise of $39.4 million (5%). The firm managed negative 7% growth year-over-year due to Gannett Co. Inc reporting quarterly revenue of $804.3 million in its year-ago quarter. Gannett Co. Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 28.53% to $2.31 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Sell on the stock prior to the report.

Trading in the five days leading up to the report earned Gannett Co. Inc a Bullish Sentiment Rank from InvestorsObserver.

Gannett Co. Inc has performed a little below average during the past few months. Before the report, Gannett Co. Inc received a Long-Term Technical Rank by InvestorsObserver of 32, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $2.45 on July 11, 2022 and set a 52-week high on September 17, 2021 at $7.05.

Gannett Co Inc is a digital newspaper company providing local media and marketing solutions in the U.S. The company's brands include the USA TODAY and more than 250 daily newspapers as well as digital marketing services companies, including ReachLocal, WordStream and others. The company produces more than 350 annual events, such as themed expos. The company also operates in the U.K. through the U.K. media company Newsquest to provide more than 150 local media brands.

You May Also Like

Get the InvestorsObserver App

InvestorsObserver App
iOS App Android App