Financial Performance - Lee Enterprises reported a quarterly loss of $2.80 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.40, and compared to earnings of $0.12 per share a year ago, indicating an earnings surprise of -600% [1] - The company posted revenues of $144.56 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 3.98%, and down from $155.68 million year-over-year [2] - The current consensus EPS estimate for the upcoming quarter is -$1.48 on revenues of $142.59 million, and for the current fiscal year, it is -$2.77 on revenues of $593.43 million [7] Market Performance - Lee Enterprises shares have declined approximately 9.5% since the beginning of the year, while the S&P 500 has gained 3.1% [3] - The company has not surpassed consensus EPS estimates over the last four quarters, indicating a consistent underperformance [2][6] Industry Outlook - The Publishing - Newspapers industry, to which Lee Enterprises belongs, is currently ranked in the bottom 16% of over 250 Zacks industries, suggesting a challenging environment [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment [5]

Core Insights - Lee Enterprises reported a 5% year-over-year increase in Total Digital Revenue, which accounted for 51% of total revenue [1][7] - Digital-only subscription revenue rose by 14% year-over-year [1][7] - Amplified Digital® Agency revenue reached $24 million, also up 14% year-over-year [1][7] Financial Performance - Total operating revenue for the first quarter was $145 million, with Total Digital Revenue at $73 million [7][17] - Operating expenses were $149 million, with Cash Costs totaling $139 million, showing a 1% decrease compared to the prior year [7][8] - The company reported a net loss of $16 million and Adjusted EBITDA of $8 million [7][18] Strategic Initiatives - A strategic partnership with Amazon Web Services (AWS) was announced to enhance digital transformation and optimize content delivery [3] - The company anticipates digital revenue growth to accelerate, projecting a full-year growth rate between 7% and 10% [4] - Lee Enterprises has identified approximately $40 million in annualized cost reductions expected to be realized by the end of the second quarter [4] Debt and Cash Flow - The company has $446 million in outstanding debt with favorable terms, including a fixed annual interest rate of 9.0% [6][8] - Cash on the balance sheet totaled $6 million, resulting in net debt of $440 million [8]

Core Viewpoint - Lee Enterprises, Incorporated is set to release preliminary results for its quarter ended December 29, 2024, during a scheduled audio webcast and conference call on February 6, 2025 [1]. Company Overview - Lee Enterprises is a significant subscription and advertising platform, providing high-quality local news and information across 72 markets in 25 states [3]. - The company operates daily newspapers, rapidly growing digital products, and nearly 350 weekly and specialty publications [3]. - Key markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ [3]. - Lee Common Stock is traded on NASDAQ under the symbol LEE [3].

Core Insights - Lee Enterprises has selected Amazon Web Services (AWS) as its Preferred Cloud Provider to modernize its cloud infrastructure and enhance generative AI (GenAI) capabilities [1][2][3] - The collaboration aims to improve subscriber experiences and advertising services through advanced technologies [1][3] Cloud Modernization - The partnership with AWS focuses on modernizing cloud infrastructure for greater scalability, flexibility, and speed [2][4] - AWS's on-demand infrastructure will support Lee Enterprises' growing subscriber base and evolving advertising ecosystem [4] Generative AI Development - Lee Enterprises will leverage AWS services like Amazon Bedrock and Amazon Redshift to develop innovative GenAI applications [2][5] - Amazon Bedrock will serve as the foundation for GenAI initiatives, enabling multi-modal content generation and enhanced targeting capabilities for advertisers [5][6] Digital Transformation Acceleration - The company is rapidly delivering new GenAI products and services, with initial offerings expected within the next year [7] - This initiative is part of a broader multi-year digital transformation strategy to redefine the local news media industry [8]

Digital Subscribers and Growth - Lee Enterprises serves 73 mid-sized communities across 26 states with over 771,000 digital subscribers[5] - Digital-only subscriptions increased by 7% in 2024, reaching over 771,000 subscribers[36] - Lee Enterprises aims to achieve over 1.2 million digital-only subscribers by 2028[37] - The St. Louis Post-Dispatch has 87,358 digital and print subscribers as of September 2024[42] Digital Revenue and Advertising - BLOX Digital revenue grew 10.4% in 2024, totaling $38.6 million[26] - The company’s digital advertising and marketing services remain a key strategic priority for 2025[14] - Amplified Digital Solutions uses AI-driven media planning for targeted advertising campaigns[39] - Advertising and marketing services account for 45% of the company's revenue, while subscription revenue accounts for 46%[79] Technology and Content Strategy - Lee Enterprises plans to invest in enhancing mobile platform user experience and personalizing content in 2025[34] - Lee Enterprises leverages generative AI to enhance content creation and subscriber engagement[8] - The company’s proprietary local content is designed to grow audiences and increase monetization opportunities[35] Financial and Operational Risks - The company faces risks from the shift in newspaper readership and advertising expenditures towards digital media, requiring significant capital investments[78] - The company's digital business growth depends on increasing digital audiences, attracting advertisers, and developing new technologies[80] - The company is exposed to risks from economic downturns, inflation, rising interest rates, and geopolitical events that could negatively impact its business[62] - The company's advertising revenues are highly sensitive to the strength of the economies in which it operates and the demographics of local communities[60] - The company faces risks from natural disasters, extreme weather conditions, and public health emergencies that could disrupt its operations[73] Debt and Financial Obligations - The company's Term Loan has an aggregate principal outstanding amount of $445.9 million, reduced from the initial $576.0 million[88] - The Term Loan carries a 9% annual interest rate and is collateralized by all company assets[88] - The company faces risks of default if it fails to meet debt service obligations, potentially leading to accelerated repayment of principal and interest[91] - The 2020 Refinancing imposes restrictions on incurring additional debt, issuing dividends, and repurchasing shares, limiting financial flexibility[90][92] Cybersecurity and Data Privacy - Cybersecurity risks could result in significant remediation costs, lost revenues, and legal claims if data breaches occur[96][98] - The company stores sensitive customer data, including payment card information, making network security critical[100][103] - The company relies on third-party service providers for network security, which could be compromised, leading to potential data breaches[100] - Payment card industry data security standards must be followed to avoid fines or loss of payment card acceptance capabilities[103] - The company may face legal and regulatory claims if it fails to comply with data breach notification or consumer privacy laws[104] Employee and Union Information - The company had 3,047 employees as of September 29, 2024, including 373 part-time employees, with 2,897 full-time equivalent employees and 366 represented by unions[46] Assets and Liabilities - The company's goodwill was valued at $328.0 million, mastheads at $10.9 million, and amortizable intangible assets at $59.2 million as of September 29, 2024[69] - Pension and postretirement plan liabilities could increase due to market volatility, higher discount rates, or changes in mortality estimates, reducing available cash[107] Internal Controls and Compliance - The company's internal controls over financial reporting are critical, and any material weaknesses could harm its stock price and investor confidence[66] - The integration of Generative AI presents risks related to security, intellectual property, ethical concerns, and competitive harm[76]

[Executive Summary & Key Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Key%20Highlights) This section provides an overview of the company's fiscal year 2024 performance, key financial highlights, and strategic direction [Fiscal Year 2024 Performance Overview](index=1&type=section&id=Fiscal%20Year%202024%20Performance%20Overview) Lee Enterprises achieved significant digital growth in FY24, with total digital revenue reaching $299 million, representing about half of total operating revenue. Digital subscriptions saw a 41% revenue increase, and Amplified Digital revenue approached $100 million. However, the company fell short of its Adjusted EBITDA target Key Fiscal Year 2024 Financial Highlights | Metric | Value (Millions USD) | | :---------------------- | :------------------- | | Total operating revenue | $611 | | Total Digital Revenue | $299 (up 11% YoY) | | Total Print Revenue | $312 (down 21% YoY) | | Operating expenses | $611 (down 7% YoY) | | Cash Costs | $553 (down 10% YoY) | | Adjusted EBITDA | $65 | - Digital subscriptions revenue increased **41% in FY24**[1](index=1&type=chunk) - Amplified Digital revenue approached **$100 million** for the fiscal year[1](index=1&type=chunk) - The company fell short of its Adjusted EBITDA target for FY24[1](index=1&type=chunk) [Fourth Quarter 2024 Performance Overview](index=1&type=section&id=Fourth%20Quarter%202024%20Performance%20Overview) In Q4 FY24, total digital revenue constituted 51% of total operating revenue, reaching $82 million, a 13% increase year-over-year. Digital-only subscription revenue grew by 30%, and Amplified Digital Agency revenue increased by 21% to $28 million. Operating expenses and Cash Costs both increased by 4% YoY, while Adjusted EBITDA was $17 million Key Fourth Quarter 2024 Financial Highlights | Metric | Value (Millions USD) | | :-------------------------------------- | :------------------- | | Total operating revenue | $159 | | Total Digital Revenue | $82 (up 13% YoY) | | Digital-only subscription revenue | $24 (up 30% YoY) | | Amplified Digital Agency revenue | $28 (up 21% YoY) | | Digital advertising & marketing services revenue | $52 (73% of total advertising) | | Digital services revenue (BLOX Digital) | $5 | | Operating expenses | $163 (up 4% YoY) | | Cash Costs | $143 (up 4% YoY) | | Adjusted EBITDA | $17 | [CEO Commentary and Strategic Direction](index=1&type=section&id=CEO%20Commentary%20and%20Strategic%20Direction) CEO Kevin Mowbray highlighted significant FY24 milestones in digital subscriptions and Amplified Digital revenue, attributing success to talent investments in AI, technology, and IT infrastructure. Looking ahead to FY25, the company remains confident in its core strategy, aiming to lead local advertising growth through AI advancements and strategic partnerships with companies like Perplexity and ProRata.ai - FY24 achievements include **41% revenue growth in digital subscriptions**, Amplified Digital revenue approaching **$100 million**, meeting digital subscription unit targets, and laying a robust foundation for digital transformation through investments in AI, technology expertise, and complex IT infrastructure[1](index=1&type=chunk) - Despite accomplishments, the company was not satisfied with overall operating metrics, falling short of its Adjusted EBITDA target[1](index=1&type=chunk) - For FY25, the company remains confident in its core strategy and is uniquely positioned to lead local advertising growth driven by advancements in AI[4](index=4&type=chunk) - Strategic partnerships with leading AI and technology companies, such as Perplexity and ProRata.ai, are aimed at rapid scaling and solidifying a dominant position in the local market[4](index=4&type=chunk) [Detailed Financial Results](index=4&type=section&id=Detailed%20Financial%20Results) This section presents the consolidated statements of operations, digital and print revenue composition, and non-GAAP financial measure reconciliations [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) The consolidated statements of operations show a decline in total operating revenue for both the three and twelve months ended September 29, 2024, compared to the prior year. The company reported a net loss for both periods, with a significant increase in loss attributable to Lee Enterprises for the full fiscal year Consolidated Statements of Operations (Thousands of Dollars) | Metric | 3 Months Ended Sep 29, 2024 | 3 Months Ended Sep 24, 2023 | 12 Months Ended Sep 29, 2024 | 12 Months Ended Sep 24, 2023 | | :--------------------------------------- | :-------------------------- | :-------------------------- | :--------------------------- | :--------------------------- | | Total operating revenue | 158,573 | 164,011 | 611,380 | 691,138 | | Operating income (loss) | (3,662) | 10,927 | 4,546 | 37,169 | | Net (loss) income | (9,481) | (1,325) | (23,573) | (2,733) | | Loss attributable to Lee Enterprises, Inc. | (10,090) | (1,984) | (25,845) | (5,267) | | Basic Loss per common share | (1.69) | (0.32) | (4.35) | (0.90) | [Digital and Print Revenue Composition](index=5&type=section&id=Digital%20and%20Print%20Revenue%20Composition) Digital revenue streams continued to grow, with Total Digital Revenue increasing by 12% for the quarter and 9% for the full year. Conversely, all print revenue categories experienced declines, leading to a significant decrease in Total Print Revenue for both periods Digital / Print Revenue Composition (Thousands of Dollars) | Revenue Category | 3 Months Ended Sep 29, 2024 | 3 Months Ended Sep 24, 2023 | 12 Months Ended Sep 29, 2024 | 12 Months Ended Sep 24, 2023 | | :-------------------------------------- | :-------------------------- | :-------------------------- | :--------------------------- | :--------------------------- | | Digital Advertising and Marketing Services Revenue | 52,466 | 49,270 | 194,213 | 193,173 | | Digital Only Subscription Revenue | 23,902 | 18,661 | 84,331 | 60,700 | | Digital Services Revenue | 5,276 | 5,020 | 20,507 | 19,362 | | **Total Digital Revenue** | **81,644** | **72,951** | **299,051** | **273,235** | | Print Advertising Revenue | 19,370 | 23,302 | 81,488 | 125,804 | | Print Subscription Revenue | 49,141 | 58,792 | 197,584 | 252,591 | | Other Print Revenue | 8,418 | 8,966 | 33,257 | 39,508 | | **Total Print Revenue** | **76,929** | **91,060** | **312,329** | **417,903** | | Total Operating Revenue | 158,573 | 164,011 | 611,380 | 691,138 | [Non-GAAP Financial Measures Reconciliation](index=6&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) The report provides reconciliations for key non-GAAP financial measures, including Adjusted EBITDA, Cash Costs, and Same-store Revenues, offering insights into the company's operational performance excluding certain non-cash or non-recurring items and the impact of exited operations [Adjusted EBITDA Reconciliation](index=6&type=section&id=Adjusted%20EBITDA%20Reconciliation) Adjusted EBITDA Reconciliation (Thousands of Dollars) | Metric | 3 Months Ended Sep 29, 2024 | 3 Months Ended Sep 24, 2023 | 12 Months Ended Sep 29, 2024 | 12 Months Ended Sep 24, 2023 | | :---------------------- | :-------------------------- | :-------------------------- | :--------------------------- | :--------------------------- | | Net loss | (9,481) | (1,325) | (23,573) | (2,733) | | Adjusted EBITDA | 16,760 | 30,044 | 65,306 | 85,228 | [Cash Costs Reconciliation](index=6&type=section&id=Cash%20Costs%20Reconciliation) Cash Costs Reconciliation (Thousands of Dollars) | Metric | 3 Months Ended Sep 29, 2024 | 3 Months Ended Sep 24, 2023 | 12 Months Ended Sep 29, 2024 | 12 Months Ended Sep 24, 2023 | | :------------------- | :-------------------------- | :-------------------------- | :--------------------------- | :--------------------------- | | Operating expenses | 162,938 | 156,077 | 611,406 | 660,496 | | Cash Costs | 143,240 | 137,864 | 553,344 | 615,320 | [Same-store Revenues Reconciliation](index=7&type=section&id=Same-store%20Revenues%20Reconciliation) Same-store Revenues Reconciliation (Thousands of Dollars) | Revenue Category | 3 Months Ended Sep 29, 2024 | 3 Months Ended Sep 24, 2023 | 12 Months Ended Sep 29, 2024 | 12 Months Ended Sep 24, 2023 | | :-------------------------------------- | :-------------------------- | :-------------------------- | :--------------------------- | :--------------------------- | | Same-store, Digital Advertising and Marketing Services Revenue | 52,465 | 48,827 | 194,117 | 190,276 | | Same-store, Digital Subscription Revenue | 23,902 | 18,399 | 84,247 | 59,662 | | Same-store, Total Operating Revenue | 158,581 | 162,069 | 610,125 | 665,593 | [Fiscal Year 2025 Outlook](index=2&type=section&id=Fiscal%20Year%202025%20Outlook) This section outlines the company's financial guidance for fiscal year 2025, including revenue growth, Adjusted EBITDA, and capital structure [Financial Guidance](index=2&type=section&id=Financial%20Guidance) For fiscal year 2025, Lee Enterprises anticipates Total Digital Revenue to grow in the range of 7% to 10% year-over-year, with Adjusted EBITDA expected to show low-single digit year-over-year growth. The company also provided guidance for capital expenditures and cash paid for income taxes - Total Digital Revenue YOY growth is projected to be in the range of **7% - 10%** for FY25[7](index=7&type=chunk) - Adjusted EBITDA YOY growth is expected to be in the **low-single digits** for FY25[7](index=7&type=chunk) - Capital expenditures in FY25 are expected to be approximately **$12 million** (compared to $9 million in FY24)[10](index=10&type=chunk) - Cash paid for income taxes in FY25 is expected to total between **$4 million and $10 million** (compared to $7 million in FY24)[10](index=10&type=chunk) [Debt and Capital Structure](index=2&type=section&id=Debt%20and%20Capital%20Structure) The company's outstanding debt under its Credit Agreement with BH Finance totals $446 million, with favorable terms including a 25-year maturity and a fixed annual interest rate of 9.0%. Debt, net of cash, was $436 million at fiscal year-end 2024, reflecting a $10 million reduction in principal debt for the year Debt and Cash Position (as of Sep 29, 2024) | Metric | Value (Millions USD) | | :-------------------------------- | :------------------- | | Principal amount of debt outstanding | $446 | | Debt reduction for FY24 | $10 | | Cash on balance sheet | $10 | | Debt, net of cash | $436 | - The debt financing has favorable terms including a **25-year maturity**, a fixed annual interest rate of **9.0%**, no fixed principal payments, and no financial performance covenants[9](index=9&type=chunk) - No pension contributions were made in FY24[10](index=10&type=chunk) [Company Overview & Disclosures](index=2&type=section&id=Company%20Overview%20%26%20Disclosures) This section provides information about Lee Enterprises, conference call details, and important forward-looking statements and risk factors [About Lee Enterprises](index=2&type=section&id=About%20Lee%20Enterprises) Lee Enterprises is a digital-first subscription and advertising platform, a leading provider of local news and information across 73 markets in 26 states, with daily newspapers, rapidly growing digital products, and nearly 350 weekly and specialty publications - Lee Enterprises is a digital-first subscription and advertising platform, providing high quality, trusted, local news and information[2](index=2&type=chunk)[12](index=12&type=chunk) - The company serves **73 markets in 26 states**, including St. Louis, MO; Buffalo, NY; and Omaha, NE[2](index=2&type=chunk)[12](index=12&type=chunk) - Offerings include daily newspapers, rapidly growing digital products, and nearly **350 weekly and specialty publications**[12](index=12&type=chunk) - Lee Common Stock is traded on NASDAQ under the symbol LEE[12](index=12&type=chunk) [Conference Call Information](index=2&type=section&id=Conference%20Call%20Information) Lee Enterprises held an earnings conference call and audio webcast on December 12, 2024, at 9 a.m. Central Time, accessible via www.lee.net, with replay available - An earnings conference call and audio webcast was held on **December 12, 2024, at 9 a.m. Central Time**[11](index=11&type=chunk) - The live webcast was accessible at **www.lee.net** and available for replay 24 hours later[11](index=11&type=chunk) - Analysts were invited to ask questions, and other participants could submit questions via the webcast[11](index=11&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) The report contains forward-looking statements subject to various risks, trends, and uncertainties that could cause actual results to differ materially from expectations. These risks include managing declining print revenue, changes in demand, technology impacts, costs, cybersecurity, and ability to achieve planned reductions - The release contains forward-looking statements based on current expectations, subject to risks, trends, and uncertainties that could cause actual results to differ materially[13](index=13&type=chunk)[16](index=16&type=chunk) - Key risks include managing declining print revenue and circulation subscribers, impact of adverse economic conditions, changes in advertising and subscription demand, and changes in technology affecting digital advertising[13](index=13&type=chunk)[15](index=15&type=chunk) - Other risks involve potential changes in newsprint, other commodities and energy costs, interest rates, labor costs, cybersecurity breaches, ability to achieve planned expense reductions, and maintaining NASDAQ listing status[15](index=15&type=chunk) - Readers are cautioned not to place undue reliance on such statements, and the company does not undertake to publicly update or revise them, except as required by law[16](index=16&type=chunk) [Notes to Financial Statements](index=8&type=section&id=Notes%20to%20Financial%20Statements) This section defines key financial measures, and provides details on debt and joint venture information [Definitions of Key Financial Measures](index=8&type=section&id=Definitions%20of%20Key%20Financial%20Measures) This section provides definitions for key non-GAAP financial measures used in the report, including Total Digital Revenue, Same-store revenues, Adjusted EBITDA, and Cash Costs, explaining their components and purpose for financial analysis - **Total Digital Revenue** is defined as digital advertising and marketing services revenue (including Amplified Digital Agency), digital-only subscription revenue, and digital services revenue[26](index=26&type=chunk) - **Same-store revenues** is a non-GAAP measure based on U.S. GAAP revenues, excluding exited operations (business divestitures and discontinued stand-alone print products)[26](index=26&type=chunk) - **Adjusted EBITDA** is a non-GAAP measure to enhance understanding of operating performance by isolating unusual, infrequent, or non-cash transactions. It is defined as net income (loss) plus various adjustments[27](index=27&type=chunk) - **Cash Costs** represent a non-GAAP measure of operating expenses measured on an accrual basis and settled in cash, defined as compensation, newsprint and ink, and other operating expenses, excluding certain non-cash and restructuring costs[28](index=28&type=chunk) [Debt Information](index=8&type=section&id=Debt%20Information) The company's debt consists of a $576 million term loan under a credit agreement with BH Finance LLC, dated January 29, 2020. The Credit Agreement defines Excess Cash Flow as cash greater than $20 million on the balance sheet at the end of each fiscal quarter - The Company's debt is a **$576 million term loan** under a credit agreement with BH Finance LLC, dated January 29, 2020[29](index=29&type=chunk) - Excess Cash Flow is defined under the Credit Agreement as any cash greater than **$20,000,000** on the balance sheet at the end of each fiscal quarter[29](index=29&type=chunk) [Joint Venture Information](index=8&type=section&id=Joint%20Venture%20Information) The report clarifies that TNI refers to TNI Partners publishing operations in Tucson, AZ, and MNI refers to Madison Newspapers, Inc. publishing operations in Madison, WI - TNI refers to TNI Partners publishing operations in Tucson, AZ[30](index=30&type=chunk) - MNI refers to Madison Newspapers, Inc. publishing operations in Madison, WI[30](index=30&type=chunk)

Financial Data and Key Metrics Changes - In Q4 2024, digital revenues surpassed print revenues, reaching 51% of total revenue, a 7-point improvement year-over-year [8] - Digital subscription revenue grew by 41% on a same-store basis, with total digital revenue approaching $300 million for the fiscal year, representing a 17% annual growth rate over the last three years [9][12] - The digital margin stands at 72%, indicating high profitability in the digital business [18] Business Line Data and Key Metrics Changes - The digital marketing services business, Amplify Digital Agency, grew 11% for the fiscal year and 21% in Q4 on a same-store basis, nearing $100 million in annual revenue [9] - Digital subscription units reached 771,000, with a target of 1.2 million digital-only subscribers by 2028 [11] Market Data and Key Metrics Changes - Lee Enterprises has outpaced the industry in key digital categories, with digital subscription revenue renewal increasing by 46% annually over the last three years [10] - The company expects total digital revenue to grow between 7% to 10% in 2025 [21] Company Strategy and Development Direction - The company is focused on becoming a digital-first entity, leveraging AI partnerships to enhance content and advertising capabilities [7][22] - Lee's three-pillar growth strategy aims for total digital revenue exceeding $450 million by 2028, driven by Amplify Digital Agency growth, digital subscriptions, and new AI revenue opportunities [19] Management's Comments on Operating Environment and Future Outlook - Management highlighted a significant shift in consumer behavior towards AI-powered search engines, predicting a decline in traditional search usage [23] - The company is optimistic about the future, citing partnerships with leading AI platforms as a means to enhance user engagement and advertising opportunities [31][32] Other Important Information - The company has identified $25 million in additional non-core assets for monetization, contributing to debt reduction efforts [16] - Lee Enterprises has a favorable credit agreement with Berkshire, allowing for strategic focus without financial performance covenants [15] Q&A Session Summary Question: Future savings and investments from AI partnerships - Management indicated that partnerships provide access to AI technology without changing the level of investment, enhancing confidence in long-term growth targets [44][45] Question: Digital subscription numbers - The current digital subscription count is 771,000 [48] Question: Profitability of print revenue - Print revenue remains profitable on an operating basis but is on a declining trend due to secular changes [51]

Core Viewpoint - Lee Enterprises reported a quarterly loss of $1.69 per share, significantly missing the Zacks Consensus Estimate of $0.65, marking a -360% earnings surprise [1] - The company has consistently failed to meet consensus EPS and revenue estimates over the last four quarters [2] Financial Performance - For the quarter ended September 2024, Lee Enterprises posted revenues of $158.57 million, which was 6.66% below the Zacks Consensus Estimate and down from $164.01 million a year ago [2] - The current consensus EPS estimate for the upcoming quarter is $0.45, with expected revenues of $156.66 million, and for the current fiscal year, the EPS estimate is $0.57 on revenues of $617.68 million [7] Stock Performance - Lee Enterprises shares have increased approximately 111.6% since the beginning of the year, outperforming the S&P 500's gain of 27.6% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Outlook - The Publishing - Newspapers industry, to which Lee Enterprises belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

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]