The following is a summary of the Lee Enterprises (LEE) Q3 2024 Earnings Call Transcript:
Financial Performance:
Lee Enterprises reported Q3 total operating revenue of $151 million.
Digital revenue streams collectively grew, with digital advertising reaching $50 million and digital subscriptions totaling $21 million, each showing year-over-year growth.
Adjusted EBITDA for the quarter was $15 million.
Digital margin stands impressively at 72%, indicative of high profitability in digital businesses.
Business Progress:
Achieved a digital revenue inflection point, surpassing print revenue.
Digital subscriber count increased to 748,000, a 23% rise year-over-year.
Amplified Digital Agency grew 12% in the quarter, reaching annualized revenue of over $100 million.
Total digital revenues over the last 12 months hit $290 million, maintaining a 17% annual growth rate over three years.
Opportunities:
Lee Enterprises' diverse and growing digital revenue streams, particularly in digital subscriptions and services, present a significant opportunity for sustainable profitability.
Approaching sustainability purely from digital operations offers potential for reduced reliance on the volatile print sector.
Risks:
Print revenue declined by 22% year-over-year, reflecting ongoing challenges and volatility in the print business, necessitating significant digital transformation efforts to offset this decline.
More details: Lee Enterprises IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.