Lee Enterprises reports strong digital growth; Q2 net loss $5M, Adj EBITDA $14M

LEE ENTERPRISES, Inc

2023-Q2 EPS reported -$0.82 revenue$355,818,000

Total Digital Revenue $65M (+12% YoY); digital-only subscribers 596,000 (+21% YoY).
Digital-only subscription revenue +39% YoY; Amplified Digital revenue $22M (+20% YoY).
Total operating revenue $171M; operating expenses $169M, Cash Costs down 10% YoY.
Reaffirms FY2023 guidance: digital revenue $270-285M, subscribers 632k, Adj EBITDA $94-100M.
Debt $460M (fixed 9% rate, 25-yr maturity, no covenants); cash $19M; net debt $441M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LEE ENTERPRISES, Inc reported second quarter fiscal 2023 results: revenue $171 million, net income Net loss totaled $5 million. Guidance reaffirmed.

Period: second quarter fiscal 2023
Revenue: $171 million
Net income: Net loss totaled $5 million
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

digital revenue and Adjusted EBITDA, and has us well positioned to drive value for our stakeholders,” Mowbray added. Key Second Quarter Highlights: • Total operating revenue was $171 million. • Total Digital Revenue was $65 million, a 12% increase over the prior year, and represented 38% of our total operating revenue. • Digital-only subscription revenue increased

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Source: SEC EDGAR

accession 0001628280-23-015651

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