NYT 10-Q: Q3 2024 Financials Revealed

TL;DR

**NYT Q3 2024 10-Q is IN! Check the numbers for Subscriptions, Ads, and Other Products.**

AI Summary

The New York Times Company (NYT) filed its 10-Q for the period ending September 30, 2024. The filing details financial performance across its segments, including Subscriptions, Advertising, and Other Products & Services. Specific financial figures for these segments during the third quarter and year-to-date periods of 2024 and 2023 are provided.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for The New York Times Company, crucial for understanding revenue trends and segment contributions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not contain new, unexpected, or high-impact information.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 2024-11-04 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• NEW YORK TIMES CO (company) — Filer
• 20240930 (date) — Period of Report
• 20241104 (date) — Filing Date
• 620 EIGHTH AVENUE (address) — Business Address
• NY (state) — State of Incorporation

FAQ

Filing Documents

• nyt-20240930.htm (10-Q) — 2038KB
• ex311_9302024.htm (EX-31.1) — 12KB
• ex312_9302024.htm (EX-31.2) — 11KB
• ex321_9302024.htm (EX-32.1) — 5KB
• ex322_9302024.htm (EX-32.2) — 4KB
• 0000071691-24-000160.txt ( ) — 9410KB
• nyt-20240930.xsd (EX-101.SCH) — 47KB
• nyt-20240930_cal.xml (EX-101.CAL) — 85KB
• nyt-20240930_def.xml (EX-101.DEF) — 306KB
• nyt-20240930_lab.xml (EX-101.LAB) — 618KB
• nyt-20240930_pre.xml (EX-101.PRE) — 458KB
• nyt-20240930_htm.xml (XML) — 1770KB

Financial Information 1

PART I Financial Information 1

Financial Statements 1

Item 1 Financial Statements 1 Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations (unaudited) for the quarters and nine months ended September 30, 2024 and September 30, 2023 3 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the quarters and nine months ended September 30, 2024 and September 30, 2023 4 Condensed Consolidated Statements of Changes In Stockholders' Equity (unaudited) for the quarters and nine months ended September 30, 2024 and September 30, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the nine months ended September 30, 2024 and September 30, 2023 7 Notes to the Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk 43

Item 3 Quantitative and Qualitative Disclosures About Market Risk 43

Controls and Procedures 44

Item 4 Controls and Procedures 44

Other Information 45

PART II Other Information 45

Legal Proceedings 45

Item 1 Legal Proceedings 45

Risk Factors 45

Item 1A Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds 45

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 45

Other Information 45

Item 5 Other Information 45

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) September 30, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 204,620 $ 289,472 Short-term marketable securities 288,325 162,094 Accounts receivable (net of allowances of $ 11,770 as of September 30, 2024 and $ 12,800 as of December 31, 2023) 188,947 242,488 Prepaid expenses 44,927 59,712 Other current assets 68,161 27,887 Total current assets 794,980 781,653 Other assets Long-term marketable securities 327,435 257,633 Property, plant and equipment (less accumulated depreciation and amortization of $ 903,880 as of September 30, 2024 and $ 870,329 as of December 31, 2023) 495,056 514,245 Goodwill 416,782 416,098 Intangible assets, net 264,810 285,490 Deferred income taxes 131,497 114,505 Miscellaneous assets 331,541 344,971 Total assets $ 2,762,101 $ 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) September 30, 2024 December 31, 2023 (Unaudited) Liabilities and stockholders' equity Current liabilities Accounts payable $ 137,104 $ 116,942 Accrued payroll and other related liabilities 146,105 174,316 Unexpired subscriptions revenue 177,215 172,772 Accrued expenses and other 129,174 147,529 Total current liabilities 589,598 611,559 Other liabilities Pension benefits obligation 211,334 219,451 Postretirement benefits obligation 18,770 19,402 Other 90,347 100,964 Total other liabilities 320,451 339,817 Stockholders' equity Common stock of $ .10 par value: Class A – authorized: 300,000,000 shares; issued: as of September 30, 2024 – 177,746,886 ; as of December 31, 2023 – 176,951,162 (including treasury shares: as of September 30, 2024 – 14,442,932 ; as of December 31, 2023 – 13,189,925 ) 17,776 1

View Full Filing

View this 10-Q filing on SEC EDGAR