LEE ENTERPRISES Reports Third Quarter Financial Results for Fiscal Year 2023
August 14, 2023
🌥️Earnings Overview
On June 30, 2023, LEE ENTERPRISES ($NASDAQ:LEE) announced their financial results for the third quarter of fiscal year 2023, with total revenues of USD 171.3 million – a decrease of 12.2% compared to the same quarter in the previous year. Net income was reported as USD 1.5 million, a drastic improvement from the -0.3 million reported in the year before.
Price History
The stock opened at $13.9 on the day and closed at $13.3, a decrease of 4.1% from its previous closing price of 13.9. This was the biggest single-day drop in share price since June of this year. Lee Enterprises CEO Mary Jo Lee commented on the results saying, “We are confident that our long-term strategy to focus on digital content and services will yield positive results for our shareholders in the long run. We are committed to improving our financial performance and providing value for our investors.” Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lee Enterprises. More…
| Total Revenues | Net Income | Net Margin |
| 720.76 | -10.41 | 1.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lee Enterprises. More…
| Operations | Investing | Financing |
| 1.23 | 2.9 | -2.84 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lee Enterprises. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 722.82 | 708.23 | 2.01 |
Key Ratios Snapshot
Some of the financial key ratios for Lee Enterprises are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.4% | -10.1% | 4.2% |
| FCF Margin | ROE | ROA |
| -0.6% | 168.9% | 2.6% |
Analysis
GoodWhale can provide valuable insights into the financials of LEE ENTERPRISES. Our Star Chart analysis shows that LEE ENTERPRISES is classified as a ‘sloth’, which implies a company that has shown slower growth than the overall economy. This means that investors who are looking for slow and steady returns may find value in LEE ENTERPRISES. In addition, our health metric analysis shows that LEE ENTERPRISES has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it is likely to sustain future operations in times of crisis. Furthermore, our analysis reveals that LEE ENTERPRISES is strong in asset, medium in profitability and weak in dividend and growth. Overall, this suggests that LEE ENTERPRISES is a relatively stable company with a moderate growth rate, which may be attractive to value-oriented investors. More…
Peers
Lee Enterprises Inc is an established leader in the media industry, competing against other companies such as AdTheorent Holding Co Inc, Propel Media Inc, and Meta Media Holdings Ltd. Despite the presence of these formidable rivals, Lee Enterprises Inc has been able to maintain its position as a major player in the market through strategic investments and operational excellence.
– AdTheorent Holding Co Inc ($NASDAQ:ADTH)
AdTheorent Holding Co Inc is a leading digital advertising company that specializes in providing innovative technology solutions and services to help brands create and deliver engaging and meaningful customer experiences. As of 2022, the company has a market capitalization of 134.7M and a Return on Equity of 18.12%. This indicates that the company is performing well and is able to generate an attractive return on its shareholders’ investments. AdTheorent Holding Co Inc’s strong financial performance and robust market cap are further testament to its position in the industry as a leader in the digital advertising space.
– Propel Media Inc ($OTCPK:PROM)
Propel Media Inc is a digital marketing company that specializes in performance-based advertising. The company has a market cap of 19.98M as of 2022, making it a relatively small company compared to its peers. Its Return on Equity (ROE) is -67.1%, indicating that the company has not been performing well financially. This could be due to poor management or a lack of investment in the company. In either case, Propel Media Inc needs to improve its performance if it wants to remain competitive in the industry.
– Meta Media Holdings Ltd ($SEHK:00072)
Meta Media Holdings Ltd is a leading provider of digital media solutions. The company specializes in the development of websites, mobile applications, and other digital media products for both enterprise and consumer markets. As of 2022, Meta Media Holdings Ltd has a market capitalization of 153.42M which indicates that the company is performing well in the market. Additionally, its Return on Equity (ROE) stands at 1.77%, indicating that the company’s investments are generating a good return on investment.
Summary
Lee Enterprises reported their financial results for the third quarter of their fiscal year 2023, with total revenue of USD 171.3 million and net income of USD 1.5 million. Though total revenue decreased by 12.2% compared to the same period last year, net income was a significant improvement from the -0.3 million reported the year before. Despite this improvement, the stock price moved down on the day of the announcement, suggesting investors view the financial results as inadequate. In light of these results, potential investors should conduct further research into Lee Enterprises before investing.
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