Lee Enterprises, Incorporated (NASDAQ:LEE) Q1 2024 Earnings Call Transcript February 1, 2024 10:00 AM ET Company Participants Josh Rinehults - VP, Finance Kevin Mowbray - President and CEO Tim Millage - VP, CFO & Treasurer Conference Call Participants Daniel Harriman - Sidoti & Company Operator Welcome to the Lee Enterprises 2024 First Quarter Webcast and Conference Call. The call is being recorded and will be available for replay at investors.lee.net. At the close of the planned remarks, there will be an o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended September 24, 2023 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 Indicate by check mark whether the Registrant (1) h ...

Lee Enterprises, Incorporated (NASDAQ:LEE) Q4 2023 Results Conference Call December 7, 2023 10:00 AM ET Company Participants Josh Rinehults - Vice President, Finance Kevin Mowbray - President and Chief Executive Officer Tim Millage - Vice President, Chief Financial Officer and Treasurer Nathan Bekke - Vice President, Audience Strategy Conference Call Participants Daniel Harriman - Sidoti Operator Welcome to the Lee Enterprises 2023 Fourth Quarter Webcast and Conference Call. This call is being recorded and ...

Continuing transition to a digital-first organization KEY THEMES FOR TODAY 2 1 DELIVERING INDUSTRY-LEADING DIGITAL GROWTH IN A DYNAMIC MARKET 3 UPDATED FY2023 GUIDANCE SAFE HARBOR KEY THEMES FOR TODAY SOUND THREE PILLAR DIGITAL GROWTH STRATEGY WELL-POSITIONED TO DRIVE VALUE FOR STAKEHOLDERS 3 TRANSFORMING THE COMPOSITION OF REVENUE Prior to launch of Three Pillar Digital Growth Strategy Industry-leading digital revenue growth is transforming the mix of revenue MARKET LEADING GROWTH | --- | --- | --- | --- | ...

Lee Enterprises Incorporated (NASDAQ:LEE) Q3 2023 Earnings Conference Call August 3, 2023 10:00 AM ET Company Participants Jared Marks - Senior Director, FP&A Kevin Mowbray - President and Chief Executive Officer Tim Millage - Vice President, Chief Financial Officer and Treasurer Conference Call Participants Michael Kupinski - NOBLE Capital Operator Welcome to the Lee Enterprises 2023 Third Quarter Webcast and Conference Call. The call is being recorded and will be available for replay at investors.lee.net. ...

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 25, 2023 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 Company or organ ...

Lee Enterprises, Incorporated (NASDAQ:LEE) Q2 2023 Earnings Conference Call May 4, 2023 10:00 AM ET Company Participants Josh Rinehults - Vice President, Finance Kevin Mowbray - President and Chief Executive Officer Tim Millage - Vice President, Chief Financial Officer and Treasurer Conference Call Participants Michael Kupinski - Noble Capital Markets Operator Welcome to the Lee Enterprise 2023 Second Quarter Webcast and Conference Call. The call is being recorded and will be available for replay at investo ...

$400M DIGITAL TRANSFORMATION: KEY TAKEAWAYS Lee's digital transformation strategy is expected to generate recurring sustainable digital subscription revenue of $100M in 2026 12 13 3 SOLID Q2 RESULTS Q2 Revenue • Digital Subscription Revenue $14M, +39% Q2 Adjusted EBITDA(1) • Industry-leading digital revenue growth in a dynamic market • Digital Advertising grew 7% YoY driven by Amplified growth of 20% • Thoughtful investments in digital future • $76M of annualized cost reductions executed in mid-Q2 had a sig ...

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 March 26, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 mon ...

Financial Data and Key Metrics Changes - Digital subscribers increased to 564,000, a 25% rise compared to the previous year [5][10] - Digital subscription revenue grew by 56% year-over-year, contributing to a total digital revenue increase of 17% [11][20] - Total operating revenue for the first quarter was $185 million, with digital revenue now representing 35% of total operating revenue [10][11] Business Line Data and Key Metrics Changes - Print revenue declined to $120 million, an 18% decrease year-over-year due to cyclical headwinds [32] - Digital advertising revenue increased by 12%, driven by a 45% growth in Amplified Digital revenue, totaling $21 million for the quarter [12][10] - Adjusted EBITDA for the quarter was reported at $18 million, with operating expenses totaling $176 million, reflecting a 5% decrease in cash costs [13][14] Market Data and Key Metrics Changes - Total digital revenue reached nearly $250 million over the last 12 months, indicating strong growth in the digital segment [10] - The company is experiencing industry-leading digital revenue growth, outpacing peers for 13 consecutive quarters [10] Company Strategy and Development Direction - The company is focused on its Three Pillar Digital Growth Strategy, aiming for $435 million in recurring sustainable digital revenue by 2026 [6][9] - Continued investment in digital talent and technology is prioritized to support long-term digital revenue growth [17][34] - The rebranding of TownNews to BLOX Digital reflects a strategic shift to expand services beyond the media sector [30][44] Management's Comments on Operating Environment and Future Outlook - Management acknowledged cyclical headwinds affecting print revenue and emphasized the importance of digital transformation [32][24] - The company reaffirmed its adjusted EBITDA target for the fiscal year at $94 million to $100 million, despite current market conditions [20][21] - Management expressed confidence in digital subscription growth and the overall digital revenue guidance [24][52] Other Important Information - The principal amount of debt at the end of the first quarter was $463 million, with no expected material pension contributions in fiscal 2023 [35] - The company executed an additional $60 million in annualized cost reductions, with $40 million expected to be realized in fiscal year 2023 [15][19] Q&A Session Summary Question: How is print advertising pacing in the current quarter? - Management noted that cyclical headwinds observed in the first quarter are also present in the second quarter, but digital subscription guidance remains strong [24] Question: What are the types of cost reductions being implemented? - The company is evaluating all departments as part of its digital transformation, focusing on costs tied to the print business, which still represents a significant portion of revenue [49] Question: What is the current status of digital revenue growth? - Digital revenue growth is consistent with the first quarter, maintaining a 17% increase [52] Question: What led to the rebranding of TownNews? - The rebranding to BLOX Digital aims to expand service offerings beyond the media sector, reflecting the company's growth strategy [44]