Lee Enterprises, Incorporated (LEE) came out with a quarterly loss of $1.69 per share versus the Zacks Consensus Estimate of $0.65. This compares to loss of $0.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -360%. A quarter ago, it was expected that this company would post earnings of $0.68 per share when it actually produced a loss of $0.73, delivering a surprise of -207.35%.Over the last four quarters, the company has no ...

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DAVENPORT, Iowa, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ: LEE), a major subscription and advertising platform and a leading provider of high quality, trusted, local news and information in 73 markets, has scheduled an audio webcast and conference call for Thursday, December 12, 2024, at 9 a.m. Central Time. Lee plans to issue a news release before the market opens that day with preliminary results for its year ended September 29, 2024. A live webcast of the conference call ma ...

Group 1 - Helen LEE BOUYGUES has resigned from the Board of Directors of Viridien effective September 11, 2024, to focus on new responsibilities [1] - Amélie OYARZABAL has been co-opted as a new independent Director for the remainder of Helen LEE BOUYGUES' term, which lasts until the Annual General Meeting in 2025 [2] - Amélie OYARZABAL has been appointed as a member of the Audit & Risk Management Committee and the New Businesses and M&A Committee [3] Group 2 - Philippe SALLE, Chairman of the Board, expressed enthusiasm for Amélie OYARZABAL's appointment, highlighting her extensive experience in finance as a valuable asset to the company [4] - Amélie OYARZABAL has over 25 years of financial advisory experience, including 16 years as a Partner at Lazard Frères and a Managing Director at Greenhill & Co., Inc. [4] - Viridien is a technology and data company focused on sustainable solutions, employing around 3,500 people and listed on Euronext Paris [5]

Company Overview - LEE Enterprises Inc. is a U.S.-based news publishing company focusing on digital-first subscriptions, providing local news, information, advertising, and marketing services tailored to local markets [4] - The company's product portfolio includes digital subscription platforms, daily, weekly, monthly reports, and niche products, delivering original local and global news in both digital and print formats [4] Financial Performance - LEE Enterprises reported a revenue of $151 million, with a net loss of $4.27 million and an earnings per share (EPS) of -$0.73 [2] - The gross profit for the company is $80.35 million, and it has a price-to-earnings (P/E) ratio of -2.97 [2] - The stock price surged by 6.90%, currently priced at $9.30 per share, with a trading volume of 18,464 shares and a turnover rate of 0.30% [1] Industry Context - The publishing industry, where LEE Enterprises operates, has experienced a general decline of 0.57% [3] - Significant gainers in the sector alongside LEE Enterprises include John Wiley & Sons Inc. - A and DallasNews Corporation - Series A [3] - Other active stocks in the sector include Scholastic Corporation and Gannett Co., with turnover rates of 0.27% and 0.26% respectively [3] - Stocks with high volatility in this sector include Educational Development Corporation and Scholastic Corporation, with volatility rates of 4.50% and 4.41% respectively [3]

Group 1 - Lee Enterprises, Incorporated will participate in the Sidoti August Virtual Investor Conference on August 14-15, 2024, with CEO Kevin Mowbray and CFO Tim Millage presenting [1][2] - The group presentation is scheduled for 1:00 PM ET on August 15, 2024, and will be accessible live [2] - Virtual one-on-one meetings with investors will also be held on August 14-15, 2024, with free registration available [2] Group 2 - Sidoti & Company, LLC has established Sidoti Events, LLC to enhance its conference business, focusing on small and microcap companies [3] - Sidoti's coverage includes approximately 160 equities, primarily in the $200 million-$5 billion market cap range, with 50% participating in the Company Sponsored Research program [3] - Sidoti Events hosts eight investor conferences annually, leveraging Sidoti's extensive network of institutional relationships in North America [3] Group 3 - Lee Enterprises is a significant provider of local news and information, operating daily newspapers and nearly 350 weekly and specialty publications across 73 markets in 26 states [4] - The company is committed to delivering valuable local news and information to its communities, with markets including St. Louis, MO, and Buffalo, NY [4] - Lee Common Stock is traded on NASDAQ under the symbol LEE [4]

Financial Data and Key Metrics - Total operating revenue in Q3 2024 was $151 million, showing a 150 basis point sequential improvement [12] - Digital revenue grew to $290 million over the last 12 months, with a 17% annual growth rate over the last three years [9] - Digital subscription revenue totaled $21 million, growing 34% year-over-year [9] - Digital advertising revenue reached $50 million, with Amplified Digital Agency contributing $26 million, growing 12% year-over-year [9] - Print revenue declined 22% year-over-year, but showed a modest sequential improvement [13] - Adjusted EBITDA for the quarter was $15 million [13] - The company expects to achieve $75 million to $85 million in cost savings in FY 2024 [14] Business Line Data and Key Metrics - Digital subscribers grew 23% year-over-year, reaching 748,000 [7] - Digital-only ARPU showed strong year-over-year growth [12] - Amplified Digital Agency grew 12% in Q3, with annualized revenue exceeding $100 million [8] - Digital margin stood at an impressive 72%, indicating high profitability [10] Market Data and Key Metrics - The company is the fastest-growing digital subscriptions platform in local media, both in terms of revenue and subscribers [6] - Digital subscription unit growth has outpaced industry peers since the implementation of the digital transformation strategy four years ago [6] - The company expects to end the year with 771,000 digital subscribers [16] Company Strategy and Industry Competition - The company has achieved a digital revenue inflection point, with digital revenue surpassing print revenue [5] - The three-pillar digital growth strategy focuses on digital subscriptions, digital advertising, and digital services [11] - The company aims to achieve digital sustainability by 2026, with gross margin from digital products expected to exceed remaining SG&A costs [11] - The company continues to invest in talent and technology to drive long-term sustainable digital revenue growth [14] Management Commentary on Operating Environment and Future Outlook - The company is optimistic about the growth potential in the digital subscription and digital services marketplace [11] - The company expects digital revenue growth to accelerate, with significant opportunities ahead [18] - The company is well-positioned to capitalize on the momentum gained in Q3 2024 [18] Other Important Information - The principal amount of debt decreased by $3 million year-to-date, totaling $453 million, a $123 million reduction since March 2020 [15] - The company has identified $25 million of non-core assets for monetization, with $7 million closed year-to-date and an additional $10 million expected to close by the end of the fiscal year [16] - The company has updated its adjusted EBITDA outlook to $73 million to $78 million, reflecting incremental cost reductions [17] Q&A Session Question: Cost savings and transformation efforts - The company has a track record of effective cost management, with $75 million to $85 million in business transformation savings expected in FY 2024 [20] - The company has improved cost guidance by $20 million on the low end, reflecting tightening costs primarily within the print business [20] Question: Asset sales and future expectations - The company is optimistic about closing the remaining $25 million in non-core asset sales in 2025, with potential benefits from lower interest rates and construction costs [22] - The company will continue to evaluate its real estate portfolio to increase the amount of non-core assets available for monetization [22]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended June 23, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-6227 LEE ENTERPRISES, INCORPORATED (Exact name of Registrant as specified in its Charter) Delaware 42-0823980 (State or other jurisdiction of incorporation or ...

Lee Enterprises nears digital sustainability with revenue inflection point (1) Total Digital Revenue represented 50% of total revenue Digital-only subscription revenue increased 34% with subscriptions up 23% Amplified Digital Agency revenue totaled $26M, up 12% YOY (2) ® (2) DAVENPORT, Iowa (August 1, 2024) — Lee Enterprises, Incorporated (NASDAQ: LEE), a digital-first subscription platform providing high quality, trusted, local news, information and a major platform for advertising in 73 markets, today rep ...

Total Digital Revenue(1) represented 50% of total revenue Digital-only subscription revenue increased 34%(2) with subscriptions up 23% Amplified Digital® Agency revenue totaled $26M, up 12% YOY(2) DAVENPORT, Iowa, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ: LEE), a digital-first subscription platform providing high quality, trusted, local news, information and a major platform for advertising in 73 markets, today reported preliminary third quarter fiscal 2024 financial results(3 ...