TDAY earnings analysis
What we found in TDAY's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
USA TODAY Co. reported its Q1 2026 results, showing a slight decline in revenues to $548.5 million, below the prior quarter's revenues but a notable improvement from last year's loss, with EPS narrowing to $0.12 against a loss of $0.05 in Q1 2025. Digital revenues grew by 5%, offsetting a decline in print revenues, demonstrating a shift towards digital platforms despite ongoing macroeconomic challenges and competition.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Performance
- Total revenues decreased by 4% from the prior year to $548.5 million, mainly due to a decline in print revenues.
- Narrower EPS Loss
- Diluted EPS improved to $0.12 from a loss of $0.05 in the prior year.
- Digital Revenue Growth
- Digital segment revenues increased by 5%, reaching $261.9 million from $250.4 million year-over-year.
- Improved Adjusted EBITDA
- Total Adjusted EBITDA rose to $73.1 million from $50.5 million, a 45% increase.
- Reduction in Operating Costs
- Operating costs were reduced by 8% to $327.4 million, aiding margins.
- Interest Expense Decrease
- Interest expense dropped 19% to $21.2 million compared to $26.1 million in the prior year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Print Revenue
- Print and commercial revenues fell by 11% year-over-year to $286.6 million, reflecting ongoing challenges in print advertising.
- Macroeconomic Pressures
- Management cited economic instability and inflation's negative impact on advertising spend as a continuing risk.
- Digital Platform Dependence
- Heavy reliance on third-party digital platforms for visibility exposes the company to potential revenue volatility.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.12
- Segment
- USA TODAY Media
- Segment
- Newsquest
- Segment
- LocaliQ
What they said about what is next.
Management emphasized a focus on digital growth but did not provide explicit quantitative guidance for future quarters.
The filing reads better than the one before it.
What came before.
- 10-K · February 26, 2026
- USA TODAY Co.'s 2025 10-K emphasizes a digital-first strategy and audience scale: total Digital revenues grew to 46% of total revenues (reported as $1.1 billion) and the company reports approximately 1.5 million paid…
- 10-Q · October 30, 2025
- Gannett reported third-quarter 2025 revenue of $560,796 (in thousands), down versus both the prior quarter and prior year, with a small operating loss and a diluted loss per share of $(0.27). Year-to-date results show…
- 10-Q · July 31, 2025
- Gannett reported Q2 2025 revenue of $584,861 (in thousands), down 8.6% versus Q2 2024; however reported net income attributable to Gannett improved to $78,391 (three months) and diluted EPS rose to $0.42 largely due to…
- 10-Q · October 31, 2024
- Gannett reported Q3 2024 revenue of $612,439 (in thousands), down from $652,871 in Q3 2023, with an operating loss of $(6,023) vs operating income of $34,941 a year ago and diluted loss per share of $(0.14) vs $(0.02).…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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