Recent GCI transcripts
Associated GCI filings
| Stacy Cunningham | Vice President of Financial Planning and Investor Relations |
| Bob Dickey | President and Chief Executive Officer |
| Ali Engel | Chief Financial Officer |
| Michael Kupinski | Noble Capital Market |
| Doug Arthur | Huber Research |
| Kyle Evans | Stephens |
Good day, ladies and gentlemen. And welcome to the Q4 2018 Gannett Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time [Operator Instructions].
As a reminder, today's conference is being recorded. to host like Ms. today's now would introduce for your call, I Cunningham, Planning Financial President Investor Stacy of and Vice Relations. Ms. Cunningham, you may begin.
morning, XXXX Thank Quarter Good everyone. to welcome you. Gannett's and Full-Year Earnings Call. Conference And Fourth
this reminder, a recorded and call As webcast. being is
Bob Gannett Officer Engel, Officer. today Financial and Ali President are us Chief Dickey, Joining Chief from Executive and
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team than are USA digital. TODAY, average they a which are traction. just of side, again highest sales advertising achieved advertising And clients, revenue milestone, the national centers, achieved on revenues our starting more call And our Our focused the TODAY's smallest XXXX. are churn total gain growth key on USA in XX%
strategy underscore strong brand. team, execution publishers the of the USA Given national TODAY these the many today, facing our by and challenges digital our results sales media
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series as development XXXX three product billion delivered being in audience growth team's relentless investment best-in-class continued this where strategy, across to new year our which X.X our more success Our video, focus areas implemented a our we is development on in than the is and launched views of that's such audience newsrooms, testament key delivering our results.
just Fast Additionally, augmented outstanding experiences, fact, named for and audience category. TODAY our storytelling, for City. list endeavors The morning and investigative virtual this four our on AR of on is like The reality app Launch reality, innovative experience our supported excited XXX development Wall, our for very the annual This the augmented efforts, has Company's company journalism Pulitzer number including in our innovative supported podcast, in the that technology USA recognition was new in of that an most companies launch as focus Prize-winning, listed consumer The our work world's augmented virtual the reality and we're XXXX. emerging was NETWORK our
pipeline AR this around including projects two AR a and experience released the year, Oscars XXXX. has has team in Monday's for the over dozen projects Additionally, the
our Finally, audience each a day, network year was couldn't we opportunities. year prestigious in single be wins newsrooms organization the the of the award monetization for the prouder produce prizes, which three I Pulitzer XXXX. top highlight communities our most since of our consumer winning journalism expanding of the strengthens while and extraordinary the serve, increasing
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investing additional We digital subscribers our for million across to to engagement models we of these only a a users conversions. on will our access and podcast subscription. investments saw and than wall pricing middle large we converting to focus year conversion product increased XXXX, video the of newsletter development in tactics will to and non-paid and and users including grow paid increase subscribers increased where in are making the pay XXXX. digital audience success a XXX experiencing is at paid are our few. are There Based strong look to X in be visitors, content, variety in on products. very we more of lowering returns, the will learnings a to And the X rest attract the to certain opportunities audience, building restrict them our audio we premium and and non-paid while our This will broader XXXX, continue key to million are experimenting with be from million of content, acquisition set also funnel, metering listeners, to still content. we that unique hybrid markets for and drive finally, top meters nurture Growing name conversion new we
we for strategic are our access a premium already have implemented full for who to XXXX, paying the pricing excluding priced subscriber and a our subscribers. more targeting content customers approach For lower base, our
same subscribers committed slightly organization, XXXX. we our that smaller of program being mindful centers as employees. subset in overall three a of remain inbound streamlined overall shareholders. to and offered to our revenue distribution areas at and full protect to and call will year-over-year access customer printing an growth as lower be the incremental pricing while both and margins retirement operations early our enable our outsourced from consolidated returns to Given XXXX, we we in revenue price investment points, portion anticipating our time Across running efficiently key and are lower trends possible circulation routes, journalism, of the facilities, less
our focus XXXX, to ahead on efficiency look will we As continue.
include projects additional lead the holistically functions of manage various key Some more to coverage state of restructuring and year, the technology some printing the newsrooms first half into of course the over holistic, outsourcing of efforts. the distribution and a managed,
While will we have continue the we these all opportunities to in the are both critical past. deliver the efforts for to of be and our difficult, they to are Company. value use of acquisitive to capital long-term Amid success in organic initiatives, growth as of these cost disciplined shareholders,
I'm I and have digital leadership, than and to unique turn our of $X our to transformation supporting all in the We take assets, including for in I over lot Gannett's optimistic want positioning million spin-off of than creating it marketplace, a future. me moment marketing the future that billion believe since the an growth We've mid-XXXX, in Before more to revenues let set digital opportunities. national market team journalism, the our continuing revenues, local set more solution powerhouse the strongest to With digital accomplished we over we position Ali. at a focused the marketing advertising our to Gannett about growing our revenue. an shareholders. thank that our truly total that, call or and Ali, solutions digital impactful generates and $XXX remain and turn one-third and a to of on brands
housekeeping and Bob, everyone. morning you, One item to good quick Thank start.
$XX we days, quarter XXXX the adjusted while fourth million XX-day comparing the quarter fourth in days course, six had further a and compared revenues, had Monday our had Our for XX have print, one trades days. the Sunday to therefore, advertising and XXXX, We $XX trades. more for we have When day XXXX. accounted XXXX XX revenue on and metrics one EBITDA. million adjusted day in as of estimate the These material of impact circulation provided in and less
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client strong segment operations resources reflecting X% of at solid that additional line across in delivered margins last on of totaled focus X% targeted operational year-over-year, new the depressed our just addition the margin, include year-ago growth focused cross-selling products. the international while quarter. client products the up offering, in and exceed investments development is our initiatives SweetIQ XX%, and the numerous over driving all on WordStream to The DMS charges quarter Our Google team excluding EBITDA expectations and quarter. revenue through client quarter established, EBITDA some in top management grew continues in set XXXX fourth initiatives XXXX product per With subscription adjusted is third WordStream from revenue WordStream, existing per Key as reputation planned. our year, to and higher progressing another reaching is now the sales listings average a fourth results. WordStream and revenue launch average ReachLocal to $X,XXX and base, on in marketing Shopping
of asset impairment restructuring, non-cash. Our $XX the $XX charges of $XX and quarter for loss was GAAP reflecting was costs other million after-tax which million net million,
debt, in million ended drawn $XXX year revolver. with the million and convertible on including our Turning $XXX to our we debt, the balance sheet,
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$XX circulation following as the and currently marketing million, recorded well non-GAAP of million excluding as revenue our estate expense are to We between depreciation pressures non-operating which rate credit in plans, billion between accelerated excluding $XX cost And consolidations. items, to is non-operating in million, streams. million $XXX and and in and Consolidated advertising costs $XXX print reflects growth $XXX as a our to of effective services be $X.XX providing million compared and of XXXX related with digital facility businesses, advertising million subscription amortization with facing real $X million continued of including digital the our XX% to Capital EBITDA revenues other billion, million, projects. Depreciation XX%. pension expenditures to $X to The CEO $XX million estimated one-time approximately associated of to a of of $XXX tax adjusted million XXXX. $X.XX finally, consolidated $XX to the outlook, transition. associated
will Operator, and operator, fourth you we take turn now to the to that Thank Before questions. results. we remind take I'd today questions quarter back only related I XXXX year you. it will full to like our
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time strides Officer, So to now good was really, is is he reports we He he's me. product made incredibly to past the reporting Kris' teams and be our the going Sharon. in in leadership. And tremendous individual, other who We've feel expanded an year responsible announcement our already at Barton, Product SweetIQ, forward. the Kevin's about role that enterprises. across talented and various Chief was development really Kris Kris WordStream integrating And for will
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[Ana Our next Quadrani for JPMorgan. Lisa] from the This for comes with question on Analyst Unidentified Thanks is Alexia Alexia. question.
business wondering noted out the much Ali about XXXX, of take expenses for were question, get going do thank cost fallen we still you had and X% and we You how good year-over-year you in frequently. operating So one Thanks. you think forward? can the Engel very
and They do and been we as or we've have generate we we've and outsourcing more we in beginning easy. and savings we've then in are and longer cost very cost and that we wrapping that to a continue advertising think and really a We've lead do three of our retirement best now XXXX manage another that Bob XXXX here and in that our different cutting December, our that and we're will able will off to we oriented, year. produce don't include strategic have XXXX, that, a very that? more project We and the newsroom ramp evidenced they approach signing it's the and past So that that completed it that projects up know modest know to Pulitzers streams be cost we they you transparent efforts, operators Well, require take project us finished of projects save want lot savings continue our call early distribution can serious we initiatives built by terms I that In we our production very would journalism on decline, in the to last Dickey of revenue the also been in think so. the implemented that we XXXX center, those to to just do and but do anything We've and these times that in consolidation that. ensure it. this, into to good to to roughly program add circulation $XX effort, savings appreciate and not largest publish the continuing we kicking about markets, and XXXX lot of area. to are awards print done contract, We to won have every that in day. Bob, structure, XXXX has continue beyond. implemented And believe a around audiences. that our It's circulation chance definitely have local legacy protect plan technology our million. focused outsourcing been restructuring
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can that continue toward growth also goals. subscription we have XXXX. able growth continue our and even it subscribers I've internal we've we in our XX% we'll And stated XXXX an X We're saw really in to the learned get goal. goal that to believe We very before, that good what by investing million quality accelerate digital about digital hit meet, to feel and we be we journalism internal proud in our ultimately of to
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with Evans Stephens. our taking or Kyle questions. my Evans Kyle for final from comes Our next thanks question Hi, question
revenue midpoint Kyle. closer the the look you advertising give Look, you, guide more tailwinds services and Publishing Ali a Good mentioned components in little bit at a to Publishing guidance hear digital bit at You build print revenue wonder, very the of we're could in and your in ReachLocal? help ReachLocal I with a from little digital. headwinds both looking of more the Engel growth, to aggressively marketing if us segment. and and and
our and digital in our as services penetration really about revenues here, sources talk clients early that services in existing rate before, acquisition of we're of on a buy target us big us. digital advertising heard more and side achieve our focus We're There's the marketing a increasing focused XXXX, XXXX. of For marketing the client lot in digital on to from come XX% or XXXX. of that's other you've than potential track from products so
digital marketing out services revenues. We growth expect strong of
it working through are On discussed, going of a see to offset expect that's partially there'll content We advertising, we to we're supporting in because the half from the our print, That think account digital and revenues. continue the growth and that as classifieds. impact some media transition we been unique more within branded modest robust sales be our those that process. transformation, second bit very be of impact longest cycle and has as we small center there'll improvements from there's base, leverage XXXX. On the robust and digital circulation, little stabilization benefit, pricing which sales offerings in less begin circulation as more digital-only call in client had in that our some team national our structure through we clients assets large year be the a will takes we by think, weak improvement number the see we to SMB positive we growth
on down saw circulation circulation this ask And we'll Evans combined, Yes, you're Kyle. you one. year. if Kyle, in Ali [indiscernible]. It's range, stick to We'll down didn't 'XX? us fat be I So a Engel volume worse come quarter last consistent at revenues for the that, can which record we my you [indiscernible]. I about high for Evans with you. would Kyle this forward we you the disappointed we dive Engel on yield. I'm Could and… pitch that. be this say a on and teens is the for expectations, into Kyle broken minute, than looking is bit Ali our help little for Here's Dickey Can trends if the have think versus dive pricing in Bob Thank disappointed, you looking a into mean,
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and concludes in program. you as session, well today's question-and-answer Ladies as participation for the This thank today's Thank you. gentlemen, your call.
have day. You wonderful may a all disconnect and
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