Gannett Trims FY18 Revenue Outlook - Quick Facts

(RTTNews) - Media and marketing solutions company Gannett Co., Inc. (GCI) on Thursday lowered its fiscal 2018 consolidated revenue and adjusted EBITDA guidance as it expects the weaker results to continue into the fourth quarter.

Consolidated revenues for the full year are now expected in a range of $2.90 billion to $2.94 billion, down from the previous guidance range of $2.95 billion to $3.00 billion.

On average, 4 analysts polled by Thomson Reuters expect the company to report revenues of $2.96 billion for the year.

The company also lowered its consolidated adjusted EBITDA outlook for the full year to a range of $325 million to $330 million from the prior guidance range of $337 million to $345 million.

The company said it remains focused on delivering growth in the digital business and rationalizing its cost base in light of the revenue challenges.

The company is instituting an early retirement program and has announced two outsourcing initiatives within customer service and technology in the fourth quarter. These initiatives are expected to achieve a significant benefit to the company's overall cost structure in 2019.