Gannett Co., Inc. (GCI) [Rocket]

In millions, except per share items	Jun-30-23	Dec-31-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21
	10-Q	8-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Revenues:
Publishing								2,921.9
Total advertising and marketing services			1,601.4	1,637.9	1,651.2	1,681.6	1,674.8	1,611.6
Advertising and marketing services			1,601.4	1,527.3	1,540.5	1,570.9	1,564.1	1,611.6
Print advertising			745.1	772.6	792.3	821.9	839.9	827.2
Total revenues [+]			3,123.5	3,179.1	3,208.1	3,257.0	3,271.3	3,234.1
Other			2.5	0.7	-0.4	-2.3	-4.0	-3.6
Revenue growth [+]			-4.5%	-1.7%	-5.8%	0.9%	17.2%	33.1%
Publishing								28.6%
Total advertising and marketing services			-4.4%	1.6%	-3.5%	3.8%	19.8%	29.3%
Advertising and marketing services			2.4%	-5.2%	-9.9%	-26.3%	-10.6%	13.7%
Print advertising			-11.3%	-6.6%	-12.1%	-9.2%	0.4%	2.6%
Digital advertising and marketing services			2.6%	10.3%	6.2%	20.4%	48.6%	78.5%
Cost of goods sold			1,896.5	1,893.7	1,901.6	1,930.0	1,942.0	1,945.6
Gross profit			1,227.0	1,285.4	1,306.5	1,327.0	1,329.3	1,288.5
Gross margin			39.3%	40.4%	40.7%	40.7%	40.6%	39.8%
Selling, general and administrative [+]			925.1	920.2	902.1	884.7	900.8	904.3
Sales and marketing			675.3	670.3		652.2	668.2	671.8
General and administrative					249.9
Other operating expenses			14.8	17.3	30.0	11.5	22.5	18.4
EBITDA [+]			287.1	347.9	374.4	430.8	406.1	365.7
EBITDA growth			-29.3%	-4.9%	3.3%	83.0%	92.8%	88.6%
EBITDA margin			9.2%	10.9%	11.7%	13.2%	12.4%	11.3%
Depreciation and amortization			194.9	193.6	204.0	212.6	225.8	243.9
EBIT [+]			92.1	154.3	170.5	218.2	180.3	121.8
EBIT growth			-48.9%	26.7%	72.6%	-1724.0%	-13163.1%	387.8%
EBIT margin			2.9%	4.9%	5.3%	6.7%	5.5%	3.8%
Non-recurring items [+]			59.6	55.1	61.4	115.7	107.3	532.0
Asset impairment			4.1	4.0	4.0	5.7		405.3
Restructuring charges			54.6	47.3	49.3	107.2	107.0	130.9
Loss (gain) on sale of assets			4.7	9.7	17.2	2.0	3.6	-1.6
Interest expense			113.1	122.3	135.7	164.0	187.5	210.1
Interest expense			113.1	122.3	135.7	164.0	187.5	210.1
Other income (expense), net [+]			69.8	76.3	-61.3	-174.2	-167.0	-165.8
Gain (loss) on debt retirement			-30.0	-32.1	-48.7	-68.1	-64.8	-62.4
Unrealized gain/loss on derivatives								126.6
Other			15.8	18.6	18.7	5.5	14.9	20.0
Pre-tax income			-10.8	53.2	-87.9	-235.6	-281.5	-786.0
Income taxes			54.2	49.8	48.3	0.3	0.4	-51.5
Tax rate				93.6%	-54.9%	-0.1%	-0.2%	6.6%
Minority interest			-1.4	-1.8	-2.0		-2.7	-2.3
Net income			-63.6	5.2	-134.2	-233.3	-279.2	-732.2
Net margin			-2.0%	0.2%	-4.2%	-7.2%	-8.5%	-22.6%

Basic EPS [+]			($0.47)	$0.04	($1.00)	($1.74)	($2.10)	($5.53)
Growth			-77.7%	-100.7%	-80.5%	-68.8%	-67.7%	130.3%
Diluted EPS [+]			($0.39)	$0.03	($0.72)	($1.26)	($1.76)	($5.53)
Growth			-77.6%	-100.5%	-85.9%	-77.5%	-72.9%	130.3%

Growth						-100.0%	-100.0%	-100.0%

Shares outstanding (basic) [+]			135.8	135.2	134.7	133.9	133.2	132.4
Growth			2.0%	2.2%	2.4%	15.9%	36.7%	66.4%
Shares outstanding (diluted) [+]			161.9	187.0	186.5	185.7	158.9	132.4
Growth			1.9%	41.3%	41.8%	60.8%	63.1%	66.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.