Gannett Co., Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total operating revenues of $722,951,000 compared to $773,457,000 a year ago. Operating loss was $339,000 compared to income of $1,033,000 a year ago. Loss before income taxes was $506,000 compared to $7,109,000 a year ago. Net loss was $377,000 or $0.00 per diluted share compared to $2,079,000 or $0.02 per diluted share a year ago. Adjusted EBITDA was $55,068,000 compared to $69,681,000 a year ago. Capital expenditures were $13,548,000 compared to $15,040,000 a year ago. Adjusted EBITDA (non-GAAP basis) was $55,068,000 compared to $69,681,000 a year ago. Adjusted net income (non-GAAP basis) was $14,685,000 or $0.13 per diluted share compared to $15,678,000 or $0.14 per diluted share a year ago. Net cash flow from operating activities for the quarter was approximately $65,153,000. Free cash flow (non-GAAP basis) was $51,605,000.

For 2018, the company expects consolidated revenues of $2.93-3.03 billion. Consolidated Adjusted EBITDA outlook of $330-340 million. Capital expenditures of $65-75 million. Depreciation and amortization of $140-150 million, excluding accelerated depreciation related to facility consolidations. The non-operating cost associated with its pension plans, recorded in other non-operating items, is currently estimated to be a credit of $5-10 million as compared to an expense of $21 million in 2017. An effective tax rate of 25-27%.