Gannett sees FY24 revenue down in the low to mid-single digits, consensus $2.6B

Total digital revenues are expected to grow approximately 10%;Total revenues are expected to be down in the low to mid-single digits on a reported and same store basis; Net income attributable to Gannett is expected to improve, after excluding an impairment charge of approximately $45 million related to the exit of our McLean, Virginia office during the first quarter of 2024;Adjusted EBITDA is expected to grow versus the prior year ;Cash provided by operating activities is expected to grow versus the prior year…Real estate and non-strategic asset sales are expected to be in the range of $45 million and “As we look forward to 2024 and the next several years, we expect to capitalize on this progress and build to inflection in our revenue as we end 2024. Our business outlook reflects our investments in strategy and our prioritization of revenue and free cash flow growth while also maintaining ongoing profit improvements and further deleveraging. We believe 2024 is an important milestone in the foundation for creating sustainable growth for Gannett.”