Lee Enterprises Reaffirms Its 2024 Outlook: Sees Digital Revenue Of $310M-$330M; Adj. EBITDA Of $83M-$90M
Portfolio Pulse from Benzinga Newsdesk
Lee Enterprises reaffirms its 2024 fiscal year outlook, projecting total digital revenue between $310M-$330M, representing a 13%-21% year-over-year increase. The company also expects digital-only subscribers to reach 771,000, a 7% increase from the previous year, and adjusted EBITDA to be in the range of $83M-$90M, indicating a -3% to +6% change year-over-year.
May 02, 2024 | 11:26 am
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POSITIVE IMPACT
Lee Enterprises projects a positive growth in digital revenue and subscribers for 2024, with adjusted EBITDA showing potential slight decline or growth.
The reaffirmation of Lee Enterprises' 2024 outlook with expected growth in digital revenue and subscribers is a positive signal for investors, indicating the company's confidence in its digital transformation strategy. The projected increase in digital revenue and subscribers suggests a strong demand for Lee's digital content, which could drive the stock price up. However, the adjusted EBITDA's potential slight decline or growth indicates some uncertainty in profitability, which is reflected in the importance and confidence scores.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100