Here's what I'm planning for Gannett's third-quarter earnings release, on Friday. What do you see missing?
Earnings Forum. An open post, starting at midnight ET, Friday, where I hope you'll post earnings highlights, story links, plus your comments. Gannett should move its statement by 8:30 a.m. ET, giving investors at least an hour before trading starts. (You'll probably beat me to the punch; I'm three hours behind, in San Francisco.)
The call. I'll cover the listen-only teleconference featuring CEO Craig Dubow plus other senior executives, and Wall Street media stock analysts. The call is scheduled to start at 10 a.m. ET. (Conference webcast details.)
Got more ideas? Please post them in the comments section, below. To e-mail confidentially, write gannettblog[at]gmail[dot-com]; see Tipsters Anonymous Policy in the green sidebar, upper right.
Thursday, October 23, 2008
5 comments:
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Jim,
ReplyDeleteI can't help but wonder if Gannett is going to get the same reception McClatchy got this week.
I don't know if you listened to or even paid attention to McClatchy's conference call earlier this week, but the analysts hammered Gary Pruitt pretty hard about everything with a single theme in mind: everyone's betting you're not going to make it.
Give it a read and see what I mean, and then try and get a feel for the welcome Craig and the Gang get.
Jim: Please sign up to ask questions after the CC. Ask Dubow the same kind of question Lehman's Dick Fuld was asked by the Congressional Committee:
ReplyDelete"During the last 4 years, your company's stock has gone down over 80%, making it vulnerable to a takeover. If the company is taken over, you stand to gain over $36M. In addition, your compensation package is $7.4M this year, while thousands of employees are getting laid off.
Do you think that is fair?"
NY Times webcast today. Expect further GCI tumbles ....Jim, might be interesting to post the results of the The New York Times company today.
ReplyDeleteI'm sure the analysts will continue to beat up the already battered newspaper industry following that.
Then Gannett will be last tomorrow.
The big thing to keep in mind about Gannett vs. some of its competitors is that Gannett is not hampered by the debt load facing Tribune and McClatchy.
ReplyDeleteWhat will be interesting to see: Whether Gannett declares a net loss for the quarter (seems likely), how much MORE it is going to have to write down in 'goodwill' (i.e., "newspapers that are worth a lot less now than they used to be") and whether it will cut its dividend (which continues to have only a casual relationship to the stock price, no matter how many times you read otherwise in this blog) to service debt and/or pay expenses to keep the company alive.
News: NYT Considering Cutting their Dividend:
ReplyDeletehttp://www.bloomberg.com/apps/news?pid=20601103&sid=aTMuwC9ktdiA&refer=us