Lee Q1 Adj EBITDA up 61% YoY, closes $50M equity placement, debt rate cut to 5%

LEE ENTERPRISES, Inc

2026-Q1 EPS reported -$0.92 revenue$130,062,000

Q1 total operating revenue $130M; Adjusted EBITDA $12M vs $7M prior year, including $2M cyber insurance reimbursement.
$50M common stock private placement closed; interest rate on $455M debt reduced to 5% from 9% for 5 years, saving ~$18M annually.
Digital revenue $70M (54% of total); digital-only subs 609K; digital-only sub revenue $23M (+5% YoY).
Net loss $5M; cash $13M; debt $455M; FY26 guidance: mid-single-digit Adj EBITDA growth.
Strategic termination of fully funded pension plan to eliminate balance sheet volatility.

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