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Thursday, November 14, 2019
The McClatchy Company (MNI)
Lots Of Balls In The Air
The McClatchy Company publishes news and information in the United States. Its publications include the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, the (Fort Worth) Star-Telegram, and The (Durham, NC) Herald-Sun. The companyÂ’s businesses comprise daily newspapers, Websites, mobile apps, mobile news and advertising, video products, niche publications, direct marketing, direct mail services, and nearby community newspapers. The McClatchy Company was founded in 1860 and is headquartered in Sacramento, California.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to full report for the price target, fundamental analysis, and rating.
- Q3 results were soft. Total company revenues of $76.7 million were lighter than our $83.4 million estimates. Adjusted EBITDA from cont. ops. was $19.9 million, which was lower than our $23.1 million estimates. The largest variance from our revenue estimate was in Advertising, which accounted for $6.7 million of the revenue miss.
- Difficult comp Q4 expected. Management provided a downcast view of Q4 given the year earlier strong cost reduction and the absence of year earlier $1.6 million in Political advertising. We are lowering our Q4 and…
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This Company Sponored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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