Quarterly ResultMay 7, 2026, 01:17 PM
Lee Enterprises Q2 Adjusted EBITDA +95% to $15M; Net Loss $2M
AI Summary
Lee Enterprises reported strong preliminary second-quarter fiscal 2026 results, with Adjusted EBITDA increasing 95% year-over-year to $15 million, or 45% excluding insurance reimbursements. The company significantly improved its net loss by 86% to $2 million and saw digital revenue constitute 56% of total operating revenue. Strategic actions included a reduced interest rate on debt from 9% to 5%, expected to save $18 million annually, and a strengthened balance sheet with $53 million in cash. The company reaffirmed its FY26 guidance for mid-single-digit Adjusted EBITDA growth.
Key Highlights
- Adjusted EBITDA grew 95% year-over-year to $15 million, marking the fourth consecutive quarter of growth.
- Net loss improved 86% year-over-year to $2 million, driven by higher Adjusted EBITDA and lower interest expense.
- Total operating revenue was $122 million, with Total Digital Revenue at $68 million, representing 56% of total.
- Digital-only subscribers reached 591,000, and digital advertising represented 74% of total advertising revenue.
- Cash Costs decreased 15% year-over-year to $112 million due to cost structure alignment.
- Interest rate on $455 million debt reduced from 9% to 5%, expected to save $18 million annually.
- Cash on the balance sheet increased to $53 million, up $49 million year-over-year.
- Reaffirmed FY26 guidance for year-over-year Adjusted EBITDA growth in the mid-single digits.