Thursday, March 14, 2019

Tribune Publishing Company (TPCO)

Behind The Curtain Of The Company's Surprisingly Good 2019 Guidance.

Tribune Publishing Co, formerly Tronc Inc is a print and online media company that publishes various newspapers and websites, such as The Chicago Tribune, Los Angeles Times, Baltimore Sun, San Diego Union-Tribune, and the Orlando Sentinel. The company creates and distribute content across its media portfolio, offering integrated marketing, media, and business services to consumers and advertisers, including digital solutions and advertising opportunities.

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.  

• Q4 surprises on the upside from previously lowered expectations. While revenues were a little softer than expected at $283.5 million versus our $286.6 million estimate, adjusted EBITDA was better, $46.5 million versus our $40.3 million estimate. 
• Encouraging print ad trends. The company indicated that print ad trends reflected significant sequential improvement from down 18% in Q3 to a more moderate down 12% in Q4. The company anticipates that print ad trends should show moderate as it has largely cycl... 

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*Analyst certification and important disclosures included in full report.  NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.