MCLEAN, Va.--(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.
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.