The New York Times Co. (NYT) Tops Q3 EPS by 3c, Offers Outlook

The New York Times Co. (NYSE: NYT) reported Q3 EPS of $0.09, $0.03 better than the analyst estimate of $0.06. Revenue for the quarter came in at $367.4 million versus the consensus estimate of $364.67 million.

Outlook

Total circulation revenues in the fourth quarter of 2015 are expected to increase at a rate similar to that of the third quarter of 2015.

Total advertising revenues in the fourth quarter of 2015 are expected to decrease in the mid-single digits compared with the fourth quarter of 2014, while digital advertising is expected to increase in the mid-single digits.

Operating costs are expected to decrease in the low to mid-single digits in the fourth quarter of 2015 compared with the fourth quarter of 2014, while adjusted operating costs are expected to decline in the low-single digits.

The Company expects the following on a pre-tax basis in 2015:

• Results from joint ventures: breakeven,
• Depreciation and amortization: $60 million to $65 million,
• Interest expense, net: $40 million to $45 million, and
• Capital expenditures: approximately $35 million.

For earnings history and earnings-related data on The New York Times Co. (NYT) click here.

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