Gannett Co Q4 2023 GAAP EPS $(0.16) Misses $0.01 Estimate, Sales $669.40M Miss $673.03M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gannett Co (NYSE:GCI) reported Q4 2023 GAAP EPS of $(0.16), missing the $0.01 estimate, with sales of $669.40M also missing the $673.03M estimate. This represents an 8.39% decrease in sales compared to the same period last year.
February 22, 2024 | 12:01 pm
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NEGATIVE IMPACT
Gannett Co reported a significant miss in both EPS and sales for Q4 2023, with a GAAP EPS of $(0.16) against an expected $0.01 and sales of $669.40M missing the $673.03M estimate.
Missing both the EPS and sales estimates significantly, especially with a negative EPS when a positive was expected, is likely to negatively impact investor sentiment and the stock price of Gannett Co in the short term. The year-over-year decrease in sales further compounds the negative outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100