Usa Today Co., Inc. · NYSE:TDAY
Usa Today — Gannett — Q3 2019 Earnings Presentation
18 slides from Usa Today's earnings presentation, Oct 31, 2019
Slide 1: Company Overview Third Quarter 2019
Company OverviewThird Quarter 2019
Slide 2: Disclaimers & Notes: No Offer or Solicitation
Disclaimers & Notes No Offer or SolicitationThis communication is neither an offer to sell, nor a solicitation of an offer to buy any securities, the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be a
Slide 3: Disclaimers & Notes: Additional Information and Where to Find It
Disclaimers & Notes Additional Information and Where to Find ItThis communication may be deemed to be solicitation material in respect of the proposed transaction between New Media and Gannett. The proposed transaction will be submitted to New Media’s stockholders and Gannett’s stockholders for thei
Slide 4: Investment Highlights – Q3 2019 & Subsequent Events
Investment Highlights – Q3 2019 & Subsequent Events(1) Reported revenue was $376.6 million, a decrease of 1.0% to prior year on a reported basis, and down 7.9% on an organic same store basisDigital revenue of $50.0 million, an increased of 7.3% to prior year on a reported basis, which represents 13.
Slide 5: 2019 Focus Areas – Q3 Update
2019 Focus Areas – Q3 Update Revenue is rounded as of Q3 2019. News UpCurve GateHouse Live + Promotions Sales disruption from transaction announcement and leadership transitionImproved in September and October sales performance Gannett Transaction UpdateRequired regulatory approvals have been obtain
Slide 6: Q3 2019 Revenue
Q3 2019 Revenue Q3 2019 Revenue Trend vs. PY(1) 2019 Revenue Trend Target(2) $17.0 million +49.6% +25-35% $26.7 million +4.6% +25-35% $28.3 million -0.6%(3) +0-1%(3) $146.3 million (5.8%)(3) (3%) – (4%)(3) 2019 Revenue Trend Targets Growth rate from Q3 2018 to Q3 2019 calculated based on: GateHouse
Slide 7: Capital Allocation Update
Capital Allocation Update Previously announced a third quarter dividend of $0.38 per share, which annualizes to $1.52(1)Liquidity of $60.1 million, consisting of cash on the balance sheet and undrawn revolver(2)Capital allocation strategy focused on maximizing long-term shareholder valueExpect to ac
Slide 8: New Media Overview
New Media Overview Note: All figures are as of September 29, 2019. SMBs in our market based upon data from Hoover’s using newspaper asset zip codes. Community Focused Solutions SMB Solutions Provider New Media supports small to mid-size communities by providing locally-focused print and digital cont
Slide 9: Q3 2019 Financial Overview
Q3 2019 Financial Overview oo ‘ * Sunday Regte Sur PARTING SHOT Tie ProvideneeJournal ae
Slide 10: Q3 2019 Results and Non-GAAP Highlights
Q3 2019 Results and Non-GAAP Highlights(1) A reconciliation of non-GAAP highlights is located in the appendix of the presentation. Total revenues of $376.6 million were 1.0% below prior yearOrganic same store revenue decreased 7.9% vs. the prior yearAs Adjusted EBITDA of $45.1 millionFree Cash Flow
Slide 11: Appendix
Appendix
Slide 12: New Media Diversified Revenue
New Media Diversified Revenue Note: Small discrepancies may exist due to rounding of revenue or percentage categories. ($ in millions) Q3 2019$ Q3 2019% Traditional Print Local $60.9 16.2% Classified $45.5 12.1% Preprints $31.1 8.3% Total Traditional Revenue $137.5 36.5% Digital Digital Advertising
Slide 13: Debt & Leverage Overview
Debt & Leverage Overview Gross leverage ratio is calculated by dividing total debt by Q3 2019 LTM As Adjusted EBITDA.Net leverage ratio is calculated by subtracting cash on the balance sheet from total debt, and dividing it by Q3 2019 LTM As Adjusted EBITDA. ($ in millions) Rate Ending Balance as of
Slide 14: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
Slide 15: Unaudited Condensed Consolidated Income Statement
Unaudited Condensed Consolidated Income Statement
Slide 16: New Media Quarterly and Full Year Same Store and Organic Same Store Revenue
New Media Quarterly and Full Year Same Store and Organic Same Store Revenue Same store revenues take into account material acquisitions and divestitures of the Company by adjusting prior year performance to include or exclude financial results as if the Company had owned or divested a business for t
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation A non-GAAP financial measure is generally defined as one that purports to measure historical or future financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adjusted in the most comparable GAAP measure. This presentatio
Slide 18: New Media Non-GAAP Reconciliation – Quarterly and Full Year
New Media Non-GAAP Reconciliation – Quarterly and Full Year(1) Small discrepancies may exist due to rounding.Average interest paid for the three and twelve month period, respectively.