The media and publishing company said it expects its full-year revenues to be in the range of US$3.15bn to US$3.22bn, encompassing the current consensus forecast of US$3.19bn.
Gannett also said it sees its 2017 adjusted earnings (EBITDA) in a range of US$325mln to $335mln and expects its capital expenditure to be around US$65mln to US$75mln, excluding real estate projects.
Robert Dickey, Gannett’s CEO, commented: “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.”
In premarket trading in New York, Gannett shares held steady at US$8.16 having fallen more than 47% over the past 12-months.
Story by ProactiveInvestors