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]

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 ...

DAVENPORT, Iowa, July 18, 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, August 1, 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 third quarter ended June 23, 2024. A live webcast of the conference call ma ...

They fill retirement vacancies, bringing the board back to nine members. DAVENPORT, Iowa, July 18, 2024 (GLOBE NEWSWIRE) -- Madeline McIntosh and Jon Miller, pioneering media executives with extensive accomplishments in digital technology, consumer marketing and business transformations, have joined the board of directors of Lee Enterprises, Incorporated (NASDAQ:LEE). Madeline McIntosh is a digital pioneer and media executive with decades of experience leading business transformations. A major profile in Th ...

They fill retirement vacancies, bringing the board back to nine members. DAVENPORT, Iowa, July 18, 2024 (GLOBE NEWSWIRE) -- Madeline McIntosh and Jon Miller, pioneering media executives with extensive accomplishments in digital technology, consumer marketing and business transformations, have joined the board of directors of Lee Enterprises, Incorporated (NASDAQ:LEE). Madeline McIntosh is a digital pioneer and media executive with decades of experience leading business transformations. A major profile in Th ...

DAVENPORT, Iowa, May 06, 2024 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ:LEE) today announced its Chief Executive Officer, Kevin Mowbray, and Chief Financial Officer, Tim Millage, will hold a group presentation and host one-on-one meetings with investors at the Sidoti May Virtual Investor Conference, taking place on May 8-9, 2024. The group presentation will begin at 2:30pm ET on May 8, 2024, and can be accessed live here. Lee Enterprises will also host virtual one-on-one with investors on We ...

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 24, 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 o ...

Lee Enterprises reports second quarter Adjusted EBITDA growth and strong digital growth Adjusted EBITDA growth of 5% YOY Digital-only subscription revenue increased 48% with subscriptions up 25% Total Digital Revenue of $71M represented 48% of total revenue (1) (2) (3) DAVENPORT, Iowa (May 2, 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 reported pre ...

Georgia Gov. Brian Kemp (Photo by Megan Varner/Getty Images)Getty ImagesThe South Carolina Senate approved a new state budget proposal last week that would speed up existing income tax rate reduction, but they’re not the only legislative body to vote recently in favor of speeding up already codified income tax relief. On April 22, Iowa legislators passed a bill that builds upon the income tax reform package signed into law by Governor Kim Reynolds (R-Iowa) two years ago, which moved Iowa from a progressive ...