New York Times Co. Files 10-Q for Period Ending March 31, 2024

Ticker: NYT · Form: 10-Q · Filed: May 8, 2024 · CIK: 71691

Sentiment: neutral

Topics: 10-Q, New York Times, Financial Report, Quarterly Earnings, Media Company

TL;DR

<b>The New York Times Company has submitted its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

NEW YORK TIMES CO (NYT) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. The New York Times Company filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. The filing was made on May 8, 2024. The company's principal business address is 620 Eighth Avenue, New York, NY 10018.

Why It Matters

For investors and stakeholders tracking NEW YORK TIMES CO, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational details of The New York Times Company for the first quarter of 2024. Understanding the company's financial health and strategic direction is crucial for stakeholders evaluating its stock performance and future prospects in the evolving media landscape.

Risk Assessment

Risk Level: low — NEW YORK TIMES CO shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Monitor future 10-Q and 10-K filings for detailed financial performance, segment revenues, and subscriber growth trends to assess the company's strategic execution.

Key Numbers

Key Players & Entities

FAQ

When did NEW YORK TIMES CO file this 10-Q?

NEW YORK TIMES CO filed this Quarterly Report (10-Q) with the SEC on May 8, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by NEW YORK TIMES CO (NYT).

Where can I read the original 10-Q filing from NEW YORK TIMES CO?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by NEW YORK TIMES CO.

What are the key takeaways from NEW YORK TIMES CO's 10-Q?

NEW YORK TIMES CO filed this 10-Q on May 8, 2024. Key takeaways: The New York Times Company filed its 10-Q report for the quarterly period ended March 31, 2024.. The filing covers the period from January 1, 2024, to March 31, 2024.. The company's fiscal year ends on December 31..

Is NEW YORK TIMES CO a risky investment based on this filing?

Based on this 10-Q, NEW YORK TIMES CO presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

What should investors do after reading NEW YORK TIMES CO's 10-Q?

Monitor future 10-Q and 10-K filings for detailed financial performance, segment revenues, and subscriber growth trends to assess the company's strategic execution. The overall sentiment from this filing is neutral.

How does NEW YORK TIMES CO compare to its industry peers?

The New York Times Company operates in the newspaper publishing industry, a sector characterized by digital transformation and evolving subscription and advertising models.

Are there regulatory concerns for NEW YORK TIMES CO?

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

Industry Context

The New York Times Company operates in the newspaper publishing industry, a sector characterized by digital transformation and evolving subscription and advertising models.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

  1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
  2. Analyze segment performance, particularly subscription and advertising revenues, for trends.
  3. Compare Q1 2024 results against Q1 2023 and prior periods to identify growth or decline.

Key Dates

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Filing Stats: 4,720 words · 19 min read · ~16 pages · Grade level 14.8 · Accepted 2024-05-08 15:45:23

Filing Documents

Financial Information 1

PART I Financial Information 1

Financial Statements 1

Item 1 Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations (unaudited) for the quarters ended March 31, 2024 and March 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the quarters ended March 31, 2024 and March 31, 2023 4 Condensed Consolidated Statements of Changes In Stockholders' Equity (unaudited) for the quarters ended March 31, 2024 and March 31, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the quarters ended March 31, 2024 and March 31, 2023 6 Notes to the Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk 37

Item 3 Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures 38

Item 4 Controls and Procedures 38

Other Information 39

PART II Other Information 39

Legal Proceedings 39

Item 1 Legal Proceedings 39

Risk Factors 39

Item 1A Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds 39

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 39

Other Information 39

Item 5 Other Information 39

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements THE NEW YORK TIMES COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 206,817 $ 289,472 Short-term marketable securities 172,238 162,094 Accounts receivable (net of allowances of $ 12,637 in 2024 and $ 12,800 in 2023) 177,656 242,488 Prepaid expenses 59,049 59,712 Other current assets 65,400 27,887 Total current assets 681,160 781,653 Other assets Long-term marketable securities 307,204 257,633 Property, plant and equipment (less accumulated depreciation and amortization of $ 882,583 in 2024 and $ 870,329 in 2023) 507,737 514,245 Goodwill 414,627 416,098 Intangible assets, net 278,418 285,490 Deferred income taxes 120,688 114,505 Miscellaneous assets 312,988 344,971 Total assets $ 2,622,822 $ 2,714,595 See Notes to Condensed Consolidated Financial Statements. 1 THE NEW YORK TIMES COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS-(Continued) (In thousands, except share and per share data) March 31, 2024 December 31, 2023 (Unaudited) Liabilities and stockholders' equity Current liabilities Accounts payable $ 120,660 $ 116,942 Accrued payroll and other related liabilities 88,564 174,316 Unexpired subscriptions revenue 178,210 172,772 Accrued expenses and other 157,283 147,529 Total current liabilities 544,717 611,559 Other liabilities Pension benefits obligation 216,879 219,451 Postretirement benefits obligation 19,520 19,402 Other 93,744 100,964 Total other liabilities 330,143 339,817 Stockholders' equity Common stock of $ .10 par value: Class A – authorized: 300,000,000 shares; issued: 2024 – 177,507,685 ; 2023 – 176,951,162 (including treasury shares: 2024 – 13,893,393 ; 2023 – 13,189,925 ) 17,752 17,697 Class B – convertible – authorized and issued shares: 2024 – 780,724 ; 2023 – 780,724 78 78 Additional paid-in capital 299,483 301,287 Retaine

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