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Lee Enterprises Clocks 31% Digital Revenue Growth In Q4

Lee Enterprises Inc (NASDAQ:LEE) reported fourth-quarter FY22 sales of $193.64 million, flat Y/Y. Digital revenue climbed 31% Y/Y to $65…
byShivani Kumaresan
December 8, 2022
1 minute read
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  • Lee Enterprises Inc (NASDAQ:LEE) reported fourth-quarter FY22 sales of $193.64 million, flat Y/Y. Digital revenue climbed 31% Y/Y to $65 million. Digital-only subscribers totaled 532,000, a 32% Y/Y growth.
  • Operating expenses rose 9.2% to $198.6 million. Operating loss for the quarter was $(3.4) million versus a profit of $13.5 million a year earlier.
  • The company held $16 million in cash and equivalents as of September 25, 2022.
  • Adjusted EBITDA increased 16.7% Y/Y to $30.1 million.
  • EPS loss was $(1.09) versus $0.75 profit a year-ago quarter.
  • Outlook: Lee sees FY23 digital revenue of $280 million – $285 million, up 17% – 19% Y/Y.
  • The company expects Adjusted EBITDA of $94 million – $100 million and digital-only subscribers of 632,000.
  • Price Action: LEE shares are trading higher by 3.04% at $17.98 on the last check Thursday.
 
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