The McClatchy Company Third Quarter Earnings Sneak Peek

The McClatchy Company (NYSE:MNI) will unveil its latest earnings on Friday, October 21, 2011. McClatchy is a newspaper company in the United States.

The McClatchy Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 4 cents per share, a decline of 66.7% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 48.5% versus last year to 35 cents.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 8 cents, reporting net income of 11 cents per share against a mean estimate of profit of 3 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $307.8 million in revenue this quarter, a decline of 6.1% 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.

A Look Back: In the second quarter, profit fell 32% to $4.9 million (6 cents a share) from $7.3 million (9 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 8.1% to $314.3 million from $342 million.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 9.5% in the first quarter from the year earlier, dropped 5.9% in fourth quarter of the last fiscal year from the year-ago quarter and 5.7% in the third 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 July 22, 2011 to October 17, 2011, the stock price had fallen 87 cents (-36.1%) from $2.41 to $1.54. The stock price saw one of its best stretches over the last year between September 26, 2011 and September 30, 2011 when shares rose for five-straight days, rising 8.9% (+11 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 $3.13 (-67%) year to date.

(Source: Xignite Financials)

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