Why Media Company Lee Enterprises Stock Is Sliding Today
Portfolio Pulse from Lekha Gupta
Lee Enterprises Inc (NASDAQ:LEE) reported Q4 FY23 operating revenue of $164.0 million, below the consensus of $173.4 million. Digital revenue grew 14% Y/Y to $73 million, with digital-only subscription revenue up 68% Y/Y. Adjusted EBITDA was $30 million, and net loss was $(1) million. EPS of $(0.32) missed the consensus of $1.40. The company expects FY24 digital revenue of $310-$330 million and adjusted EBITDA of $83-$90 million. LEE shares dropped 8.42% to $9.90.
December 07, 2023 | 4:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Lee Enterprises reported lower-than-expected Q4 FY23 revenue and a miss on EPS, with shares falling 8.42% to $9.90. Despite strong digital revenue growth, the overall financial miss may concern investors.
The stock price of Lee Enterprises is likely to be negatively impacted in the short term due to the reported earnings miss and lower-than-expected revenue, which typically leads to a loss of investor confidence and a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100