Lee Enterprises Reaffirms Its 2024 Digital Revenue Guidance Of $310M-$330M; And Updates Adj. EBITDA Guidance To $73M-$78M (Prior $83M-$90M)
Portfolio Pulse from Benzinga Newsdesk
Lee Enterprises has reaffirmed its 2024 digital revenue guidance of $310M-$330M, representing a 13%-21% year-over-year increase. However, the company has updated its adjusted EBITDA guidance to $73M-$78M, down from the prior $83M-$90M. Digital-only subscribers are expected to grow by 7% year-over-year to 771,000.
August 01, 2024 | 11:15 am
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Lee Enterprises has reaffirmed its 2024 digital revenue guidance but lowered its adjusted EBITDA guidance. Digital revenue is expected to grow by 13%-21% year-over-year, while adjusted EBITDA is revised down to $73M-$78M from the prior $83M-$90M. Digital-only subscribers are projected to increase by 7% year-over-year.
The reaffirmation of digital revenue guidance is positive, indicating strong growth in digital revenue. However, the downward revision of adjusted EBITDA guidance may concern investors about profitability. The increase in digital-only subscribers is a positive sign for future revenue growth.
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