The McClatchy Company Second Quarter Earnings Sneak Peek

The McClatchy Company (NASDAQ:MNI) will unveil its latest earnings on Thursday, July 28, 2011. McClatchy Company is a newspaper company in the United States with 30 daily newspapers and approximately 50 non-dailies in 29 markets across the country. Gannett Co., Inc. Earnings Cheat Sheet: Two Straight Quarters of Falling Profit>>

The McClatchy Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 3 cents per share, a decline of 70% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 10 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 3 cents during the last month. For the year, analysts are projecting net income of 35 cents per share, a decline of 48.5% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 6 cents, reporting net loss of 4 cents per share against a mean estimate of a loss of 10 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $315.2 million in revenue this quarter, a decline of 7.8% from the year ago quarter. Analysts are forecasting total revenue of $1.28 billion for the year, a decline of 7.2% from last year’s revenue of $1.38 billion.

Analyst Ratings: The limited number of analysts covering the stock seem relatively indifferent about McClatchy Company with three of three analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 9.5% to $303.7 million in first quarter. The figure fell 5.9% in the fourth quarter of the last fiscal year from the year earlier, dropped 5.7% in third quarter of the last fiscal year from the year-ago quarter and 6.4% in the second quarter of the last fiscal year.

McClatchy Company’s loss in the latest quarter follows profits in the previous three quarters. The company reported a loss of of $2 million in the first quarter, a profit of $14.9 million in the fourth quarter of the last fiscal year, a profit of $11.9 million in the third of the last fiscal year and a profit of $7.3 million in the second quarter of the last fiscal year.

Competitors to Watch: Gannett Co., Inc. (NYSE:GCI), GateHouse Media, Inc. (GHSE), The New York Times Company (NYSE:NYT), Lee Enterprises, Inc. (NYSE:LEE), A.H. Belo Corporation (NYSE:AHC), Media General, Inc. (NYSE:MEG), Sun Times Media Group, Inc. (SUTMQ), The E.W. Scripps Company (NYSE:SSP), Daily Journal Corporation (NASDAQ:DJCO), AOL (NYSE:AOL), Interactive Corp (NASDAQ:IACI), McGraw-Hill (NYSE:MHP), Pearson (NYSE:PSO), Washington Post (NYSE:WPO) and News Corporation (NASDAQ:NWSA).

Stock Price Performance: During April 27, 2011 to July 22, 2011, the stock price had fallen 50 cents (-17.2%) from $2.91 to $2.41. The stock price saw one of its best stretches over the last year between June 20, 2011 and June 24, 2011 when shares rose for five-straight days, rising 11.4% (+27 cents) over that span. It saw one of its worst periods between March 8, 2011 and March 18, 2011 when shares fell for nine-straight days, falling 14.5% (-56 cents) over that span. Shares are down $2.26 (-48.4%) year to date.

(Source: Xignite Financials)

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