Recent Insider Transactions • May 20
Chairman recently bought €196k worth of stock On the 18th of May, David Hoffmann bought around 27k shares on-market at roughly €7.32 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €682k. David has been a buyer over the last 12 months, purchasing a net total of €3.0m worth in shares. Announcement • Apr 27
Lee Enterprises, Inc. Names Josh Rinehults as Chief Financial Officer Josh Rinehults, Vice President, Interim Chief Financial Officer and Treasurer, has been named Vice President, Chief Financial Officer and Treasurer of Lee Enterprises, Incorporated. The Board of Directors unanimously approved the appointment. Rinehults has served in the interim role since the closing of the company’s strategic investment in February 2026. Rinehults has been with Lee since its acquisition of BH Media Group in 2020 and has held various financial leadership roles across Lee, BH Media Group, and Media General since 2007. Announcement • Apr 26
Lee Enterprises, Inc. Names Nathan Bekke as Chief Executive Officers Lee Enterprises Inc. announced Nathan Bekke, President and Interim Chief Executive Officer, has been named President and Chief Executive Officer. The Board of Directors unanimously approved appointment. Bekke have served in their interim roles since the closing of the company’s strategic investment in February 2026. Bekke joined the company in 1988 and has held a broad range of leadership positions over his more than three decades of service. He was appointed Chief Operating Officer in June 2025, following his tenure as Operating Vice President and Vice President of Audience Strategy, roles he held since 2020. Announcement • Apr 23
Lee Enterprises, Incorporated to Report Q2, 2026 Results on May 07, 2026 Lee Enterprises, Incorporated announced that they will report Q2, 2026 results at 9:30 AM, US Eastern Standard Time on May 07, 2026 Announcement • Apr 08
Lee Enterprises, Incorporated Approves Election of Ronald J. Kruszewski as Director Lee Enterprises, Incorporated announced at the AGM held on April 6, 2026, approved election of Ronald J. Kruszewski as directors to serve for a three-year term expiring at the Company’s 2029 annual meeting of stockholders. Announcement • Mar 07
Lee Enterprises, Incorporated, Annual General Meeting, Apr 06, 2026 Lee Enterprises, Incorporated, Annual General Meeting, Apr 06, 2026. Announcement • Jan 30
Lee Enterprises, Incorporated to Report Q1, 2026 Results on Feb 10, 2026 Lee Enterprises, Incorporated announced that they will report Q1, 2026 results Pre-Market on Feb 10, 2026 Announcement • Nov 18
Lee Enterprises, Incorporated to Report Q4, 2025 Results on Nov 26, 2025 Lee Enterprises, Incorporated announced that they will report Q4, 2025 results Pre-Market on Nov 26, 2025 Announcement • Nov 11
Lee Enterprises, Incorporated has filed a Follow-on Equity Offering in the amount of $50 million. Lee Enterprises, Incorporated has filed a Follow-on Equity Offering in the amount of $50 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: Rights Offering Announcement • Jul 24
Lee Enterprises, Incorporated to Report Q3, 2025 Results on Aug 07, 2025 Lee Enterprises, Incorporated announced that they will report Q3, 2025 results Pre-Market on Aug 07, 2025 Announcement • Jun 20
Lee Enterprises, Incorporated Appoints Nathan Bekke as Chief Operating Officer Nathan Bekke, Operating Vice President and Vice President of Audience Strategy, has been named Chief Operating Officer of Lee Enterprises, Incorporated. Bekke, was appointed Vice President in January 2015. He was named Operating Vice President and Vice President of Audience Strategy in 2020. He is responsible for news, audience, advertising, production, information technology and BLOX Digital operations. He began his career in 1988 advancing to many leadership positions throughout his more than three-decade career with Lee. Bekke has been involved with a wide range of charitable, community and statewide organizations throughout his career. He currently serves on the board of News Media Alliance. Nathan has two adult children and three adult stepchildren with his wife Trista. Announcement • May 02
Lee Enterprises, Incorporated to Report Q2, 2025 Results on May 08, 2025 Lee Enterprises, Incorporated announced that they will report Q2, 2025 results Pre-Market on May 08, 2025 Announcement • Jan 28
Lee Enterprises, Incorporated to Report Q1, 2025 Results on Feb 06, 2025 Lee Enterprises, Incorporated announced that they will report Q1, 2025 results Pre-Market on Feb 06, 2025 Announcement • Jan 07
Lee Enterprises, Incorporated, Annual General Meeting, Feb 27, 2025 Lee Enterprises, Incorporated, Annual General Meeting, Feb 27, 2025. Announcement • Dec 13
Lee Enterprises, Incorporated Provides Earnings Guidance for the Fiscal Year 2025 Lee Enterprises, Incorporated provided earnings guidance for the fiscal year 2025. For the year, the company expects Total Digital Revenue of YOY growth in the range of 7% - 10%. Announcement • Nov 26
Lee Enterprises, Incorporated to Report Q4, 2024 Results on Dec 12, 2024 Lee Enterprises, Incorporated announced that they will report Q4, 2024 results Pre-Market on Dec 12, 2024 New Risk • Oct 18
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €853k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Significant insider selling over the past 3 months (€853k sold). Market cap is less than US$100m (€79.9m market cap, or US$86.7m). New Risk • Aug 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (€47.9m market cap, or US$53.3m). Reported Earnings • Aug 02
Third quarter 2024 earnings released: US$0.73 loss per share (vs US$0.26 profit in 3Q 2023) Third quarter 2024 results: US$0.73 loss per share (down from US$0.26 profit in 3Q 2023). Revenue: US$150.6m (down 12% from 3Q 2023). Net loss: US$4.27m (down 384% from profit in 3Q 2023). Revenue is forecast to stay flat during the next 2 years compared to a 5.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • Aug 01
Lee Enterprises, Incorporated Updates Earnings Guidance for the Fiscal Year 2024 Lee Enterprises, Incorporated updated earnings guidance for the fiscal year 2024. For the period, the company expects total digital revenue to be $310 million (+13% YOY) - $330 million (+21% YOY). Announcement • Jul 18
Lee Enterprises, Incorporated to Report Q3, 2024 Results on Aug 01, 2024 Lee Enterprises, Incorporated announced that they will report Q3, 2024 results at 9:30 AM, US Eastern Standard Time on Aug 01, 2024 Reported Earnings • May 03
Second quarter 2024 earnings released: US$2.06 loss per share (vs US$1.01 loss in 2Q 2023) Second quarter 2024 results: US$2.06 loss per share (further deteriorated from US$1.01 loss in 2Q 2023). Revenue: US$146.6m (down 14% from 2Q 2023). Net loss: US$12.2m (loss widened 107% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Apr 23
Lee Enterprises, Incorporated to Report Q2, 2024 Results on May 02, 2024 Lee Enterprises, Incorporated announced that they will report Q2, 2024 results Pre-Market on May 02, 2024 Reported Earnings • Feb 02
First quarter 2024 earnings released: EPS: US$0.12 (vs US$0.19 in 1Q 2023) First quarter 2024 results: EPS: US$0.12 (down from US$0.19 in 1Q 2023). Revenue: US$155.7m (down 16% from 1Q 2023). Net income: US$688.0k (down 37% from 1Q 2023). Profit margin: 0.4% (down from 0.6% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Feb 02
Lee Enterprises, Incorporated Provides Earnings Guidance for the Fiscal Year 2024 Lee Enterprises, Incorporated provided earnings guidance for the fiscal year 2024. For the period, the company expects total digital revenue to be $310 million (+13% YOY) - $330 million (+21% YOY). Announcement • Jan 20
Lee Enterprises, Incorporated to Report Q1, 2024 Results on Feb 01, 2024 Lee Enterprises, Incorporated announced that they will report Q1, 2024 results on Feb 01, 2024 Announcement • Jan 13
Lee Enterprises, Incorporated, Annual General Meeting, Feb 22, 2024 Lee Enterprises, Incorporated, Annual General Meeting, Feb 22, 2024, at 09:00 Central Standard Time. Agenda: To discuss and elect two directors, each for a term of three years expiring at the 2027 annual meeting of the shareholders; to discuss and approve, by non-binding vote, the Company’s compensation of its named executive officers (“Say-On-Pay” vote); to discuss and ratify the selection of BDO USA, P.C. as the Company’s independent registered public accounting firm for fiscal year ending September 29, 2024; and to discuss and transact any other business that is properly brought before the Annual Meeting. Reported Earnings • Dec 08
Full year 2023 earnings released: US$0.90 loss per share (vs US$0.35 loss in FY 2022) Full year 2023 results: US$0.90 loss per share (further deteriorated from US$0.35 loss in FY 2022). Revenue: US$691.1m (down 12% from FY 2022). Net loss: US$5.27m (loss widened 161% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Dec 08
Lee Enterprises, Incorporated Provides Earnings Guidance for the Fiscal Year 2024 Lee Enterprises, Incorporated provided earnings guidance for the fiscal year 2024. For the period, the company expects Total Digital Revenue to be $310 million (+13% YOY) - $330 million (+21% YOY). Announcement • Dec 07
Lee Enterprises, Incorporated Announces Management Changes Theodore F. Olt III has been elected by the board of directors of Lee Enterprises, Incorporated to succeed C. Dana Waterman III, who is retiring after 34 years as secretary and general counsel. Olt is a graduate of the U.S. Naval Academy and the University of Iowa College of Law, and joined Lane & Waterman LLP in 1995. His law practice focuses primarily on corporate and transactional matters, including corporate law and governance, mergers and acquisitions, contracts, commercial real estate and environmental law, and is recognized with Martindale-Hubbel’s highest AV Preeminent® rating. He is a member of the Society of Corporate Governance and is active in the Quad Cities community, currently serving on the board of directors of Illowa Council Boy Scouts of America as well as area coordinator for the U.S, Naval Academy Blue & Gold Officer (Admissions) program. He previously served as board chair for the Scott County Regional Authority and the Junior Achievement of the Heartland Central Region. Waterman served in the Lee post since 1989 and previously assisted in Lee legal matters. Waterman joined Lane & Waterman in 1971 and served as its managing partner from 2001 to 2016, the fourth generation of the Waterman family to lead the firm. In 2017, he transitioned to an Of Counsel role, where he continues to advise business organizations and individuals on matters related to business structure, operations, governance, financing, transactions and risk and compliance issues. He continues to be active in community service organizations, serving as board chair of Genesis Health System; as a board member of the Quad Cities Contributors Council; as a co-trustee and secretary of The Hubbell-Waterman Foundation; and as a founding co-trustor of the Quad Cities Cultural Trust. In December 2016, he was appointed Civilian Aide to the Secretary of the Army for Iowa (East), serving as the Secretary’s liaison to and supporting her priorities through engagement with and on behalf of soldiers in the active Army, National Guard and Army Reserve components, their families and veterans. He previously served as board chair of the Quad Cities Chapter of the American Red Cross, the Iowa Law School Foundation, the Putnam Museum and Science Center and the Quad Cities Chamber of Commerce (and several of its affiliate and/or predecessor organizations), and as a member of the Augustana College board of trustees. He also serves on the boards of directors of several privately held companies. In 2015 he was inducted into the Quad Cities Business Hall of Fame by Junior Achievement of the Heartland; and in 2020 he was selected as the Quad Cities Chamber Volunteer of the Year. Announcement • Dec 02
Lee Enterprises, Incorporated to Report Q4, 2023 Results on Dec 07, 2023 Lee Enterprises, Incorporated announced that they will report Q4, 2023 results Pre-Market on Dec 07, 2023 Announcement • Sep 07
Wick Communications Company signed an agreement to acquire Arizona Daily Sun from Lee Enterprises, Incorporated (NasdaqGS:LEE). Wick Communications Company signed an agreement to acquire Arizona Daily Sun from Lee Enterprises, Incorporated (NasdaqGS:LEE) on August 31, 2023. Brady will remain publisher, and all employees of the Daily Sun have been offered positions with Wick Communications. The Daily Sun was part of Scripps League Newspapers until 1996, when the company was purchased by Pulitzer. Lee Enterprises acquired Pulitzer in 2005. The acquisition is planned to be final on Sept. 25. Announcement • Aug 05
Lee Enterprises, Incorporated Provides Earnings Guidance for the Fiscal Year 2023 Lee Enterprises, Incorporated provided earnings guidance for the fiscal year 2023. For the period, the company expects Total Digital Revenue to be $270 million (+13% YOY) - $285 million (+19% YOY). Reported Earnings • Aug 04
Third quarter 2023 earnings released: EPS: US$0.26 (vs US$0.046 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.26 (up from US$0.046 loss in 3Q 2022). Revenue: US$171.3m (down 12% from 3Q 2022). Net income: US$1.50m (up US$1.77m from 3Q 2022). Profit margin: 0.9% (up from net loss in 3Q 2022). Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Jul 22
Lee Enterprises, Incorporated to Report Q3, 2023 Results on Aug 03, 2023 Lee Enterprises, Incorporated announced that they will report Q3, 2023 results Pre-Market on Aug 03, 2023 Board Change • May 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Shaun McAlmont was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 05
Lee Enterprises, Incorporated Provides Earnings Guidance for the Fiscal Year 2023 Lee Enterprises, Incorporated provided earnings guidance for the fiscal year 2023. For the year, the company expects total digital revenue to be between $270 million (+13% year-over-year) to $285 million (+19% year-over-year). Announcement • Feb 16
Lee Enterprises Receives A Notification Letter from Nasdaq Due to Delay in Filing Its Quarterly Report on from 10-Q for the Quarter Ended December 25, 2022 On February 8, 2023, Lee Enterprises, Incorporated (the "Company") received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") indicating that, as a result of the Company's delay in filing its Quarterly Report on From 10-Q for the quarter ended December 25, 2022 (the "2023 First Quarter Form 10-Q"), the Company is not in compliance with the timely filing requirements for continued listing under Nasdaq Listing Rule 5250(c)(1). The Company filed a Notification of Late Filing on Form 12b-25 on February 6, 2023, stating it was unable to file the 2023 First Quarter Form 10-Q within the prescribed time period without unreasonable effort or expense because it required additional time to review its financial statements and other disclosures and complete its closing processes and controls in connection with its assessment of the effectiveness of its internal controls over financial reporting as of September 25, 2022, and December 25, 2022. The Company provided an update on the status of filing its Annual Report on Form 10-K on a Current Report on Form 8-K filed on February 6, 2023. As a result of the foregoing, the Company requires additional time to complete its review of its financial statements and other disclosures as of September 25, 2022, and December 25, 2022, and to complete its closing processes and controls, and is unable to file its Quarterly Report on Form 10-Q on or prior to the prescribed due date of February 3, 2023. The Company does not currently anticipate that it will be able to file the Form 10-Q on or before the fifth calendar day following the February 3, 2023, prescribed filing date as a result of the circumstances described above. The Company will seek to resolve these issues as soon as practicable and plans to file the Form 10-Q as soon as possible. The notification letter stated that, under Nasdaq rules, the Company has until February 27, 2023, to submit a plan to regain compliance with Nasdaq's continued listing requirements. If the plan is accepted, Nasdaq may grant an extension until June 26, 2023, to regain compliance. The Company can also regain compliance with Nasdaq's continued listing requirements at any time before February 27, 2023, by filing the 2022 Form 10-K and 2023 First Quarter Form 10-Q with the SEC, and continuing to comply with Nasdaq's other continued listing requirements. The notification letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Global Select Market. The Company's management intends to file the 2022 Form 10-K and 2023 First Quarter Form 10-Q as soon as practicable; however, no assurance can be given as to the definitive date on which the 2022 Form 10-K and 2023 First Quarter Form 10-Q will be filed. Announcement • Feb 07
Lee Enterprises, Incorporated announced delayed 10-Q filing On 02/06/2023, Lee Enterprises, Incorporated announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jan 05
Lee Enterprises Receives Notification from Nasdaq Related to Delayed Annual Report on Form 10-K Lee Enterprises, Incorporated has received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of the company’s delay in filing its Annual Report on Form 10-K for the fiscal year ended Sept. 25, 2022 (the “2022 Form 10-K”) within the prescribed time period, the company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1). This notification has no immediate effect on the listing or trading of the company's common stock on The Nasdaq Capital Market. Lee must submit to Nasdaq a plan of compliance within 60 days, or no later than Feb. 27, 2023, addressing how it intends to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the plan, it may grant an extension of up to 180 days from the original filing due date of the 2022 Form 10-K, or until June 26, 2023, to regain compliance. If the company fails to regain compliance with the Nasdaq Listing Rule within the time periods described above, the company's common stock could be subject to delisting from Nasdaq. On Dec. 12, 2022, Lee disclosed that it required additional time to file its fiscal 2022 Form 10-K for the period ended Sept. 25, 2022. The company is working diligently to complete the internal controls evaluation described in its Form 8-K filing on Dec. 12 and file its 10-K for fiscal 2022. Lee expects to file the 2022 Form 10-K within the 60-day period described above, which would eliminate the need for the company to submit a formal plan to regain compliance with the Nasdaq Listing Rule. However, no assurance can be given as to the definitive date on which the 2022 Form 10-K will be filed. Notwithstanding the ongoing nature of its internal controls evaluation, the company does not expect the evaluation to result in any material impact on the preliminary financial results the Company released on Dec. 8, 2022 for the 12-month period as of and ended Sept. 25, 2022. Announcement • Dec 30
Lee Enterprises Receives Notification from Nasdaq Related to Delayed Annual Report on Form 10-K Lee Enterprises, Incorporated has received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of the Company’s delay in filing its Annual Report on Form 10-K for the fiscal year ended September 25, 2022 (the “2022 Form 10-K”) within the prescribed time period, the Company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1). This notification has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Capital Market. Lee must submit to Nasdaq a plan of compliance (the “Plan”) within 60 days, or no later than February 27, 2023, addressing how it intends to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Plan, it may grant an extension of up to 180 days from the original filing due date of the 2022 Form 10-K, or until June 26, 2023, to regain compliance. If the Company fails to regain compliance with the Nasdaq Listing Rule within the time periods described above, the Company's common stock could be subject to delisting from Nasdaq. On December 12, 2022, Lee disclosed that it required additional time to file its fiscal 2022 Form 10-K for the period ended September 25, 2022. The Company is working diligently to complete the internal controls evaluation described in its Form 8-K filing on December 12 and file its 10-K for fiscal 2022. Lee expects to file the 2022 Form 10-K within the 60-day period described above, which would eliminate the need for the Company to submit a formal plan to regain compliance with the Nasdaq Listing Rule. However, no assurance can be given as to the definitive date on which the 2022 Form 10-K will be filed. Notwithstanding the ongoing nature of its internal controls evaluation, the Company does not expect the evaluation to result in any material impact on the preliminary financial results the Company released on December 8, 2022 for the 12-month period as of and ended September 25, 2022. Announcement • Dec 13
Lee Enterprises, Incorporated announced delayed annual 10-K filing On 12/12/2022, Lee Enterprises, Incorporated announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Dec 13
Full year 2022 earnings released: US$0.21 loss per share (vs US$3.99 profit in FY 2021) Full year 2022 results: US$0.21 loss per share (down from US$3.99 profit in FY 2021). Revenue: US$781.0m (down 1.7% from FY 2021). Net loss: US$1.22m (down 105% from profit in FY 2021). Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Announcement • Dec 10
Lee Enterprises, Incorporated Provides Revenue Guidance for Fiscal Year 2023 Lee Enterprises, Incorporated provided revenue guidance for fiscal year 2023. For the period, the company expected total Digital Revenue $280 million (+17% YOY) - $285 million (+19% YOY). Announcement • Nov 30
Lee Enterprises, Incorporated to Report Q4, 2022 Results on Dec 08, 2022 Lee Enterprises, Incorporated announced that they will report Q4, 2022 results Pre-Market on Dec 08, 2022 Recent Insider Transactions • Sep 27
Insider recently bought €856k worth of stock On the 20th of September, Mason Slaine bought around 46k shares on-market at roughly €18.54 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €893k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 05
Third quarter 2022 earnings released: US$0.05 loss per share (vs US$0.56 profit in 3Q 2021) Third quarter 2022 results: US$0.05 loss per share (down from US$0.56 profit in 3Q 2021). Revenue: US$195.0m (flat on 3Q 2021). Net loss: US$269.0k (down 108% from profit in 3Q 2021). Over the next year, revenue is forecast to stay flat compared to a 8.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 05
Lee Enterprises, Incorporated Provides Earnings Guidance for the Fourth Quarter of 2022 Lee Enterprises, Incorporated provided earnings guidance for the fourth quarter of 2022. For the quarter, the company expects Digital Subscription Revenue to be $11 million (+44% year-over-year). Digital Advertising and Marketing Services Revenue to be $48 million (+28% year-over-year). Total Digital Revenue to be $62 million (+27% year-over-year). Announcement • Jul 26
Lee Enterprises, Incorporated to Report Q3, 2022 Results on Aug 04, 2022 Lee Enterprises, Incorporated announced that they will report Q3, 2022 results Pre-Market on Aug 04, 2022 Announcement • May 10
Lee Enterprises Elects Dr. Shaun McAlmont to Board of Directors Lee Enterprises, Incorporated announced that Dr. Shaun McAlmont has been elected to the Company’s Board, effective immediately. Dr. McAlmont is a seasoned executive with deep experience overseeing successful digital transformations, change management and strategic partnerships. McAlmont is President and CEO of NINJIO, LLC. Previously, McAlmont was President of Career Learning at Stride Inc. With the addition of Dr. McAlmont, Lee’s Board will be comprised of nine directors, seven of whom are independent. The Lee Board has been substantially refreshed over the last three years, with the addition of four independent directors since 2019. Dr. McAlmont will serve with the class of directors whose terms expire at the Company’s 2024 Annual Meeting of Shareholders. Reported Earnings • May 06
Second quarter 2022 earnings released: US$1.26 loss per share (vs US$0.20 loss in 2Q 2021) Second quarter 2022 results: US$1.26 loss per share (down from US$0.20 loss in 2Q 2021). Revenue: US$190.0m (down 1.3% from 2Q 2021). Net loss: US$7.28m (loss widened US$6.14m from 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 8.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 06
STL Pinch Hits Delivers Exclusive Coverage of the St. Louis Cardinals and Expands Lee Enterprises, Incorporated’s Portfolio of Innovative Digital Sports Products Lee Enterprises, Incorporated announced the launch of STL Pinch Hits, new baseball-exclusive platform coverage of the St. Louis Cardinals. Generations of Cardinals fans have relied on the St. Louis Post-Dispatch for news, commentary and analysis of the team. STL Pinch Hits, a standalone, subscription-based website and app, will feature all the baseball journalism STLtoday and Post-Dispatch readers have come to expect in addition to expanded and exclusive coverage. STL Pinch Hits subscribers will get exclusive coverage of the Cardinals minor league system and future stars, a deep dive into St. Louis baseball history and access to subscriber-only newsletters and text messaging that will connect audiences with the coverage like never before. STL Pinch Hits [4] is the latest expansion of exclusive, sports-related content from Lee Enterprises. In 2021, HuskerExtra launched for fans wanting extensive sports coverage of the University of Nebraska. Announcement • Feb 26
Lee Enterprises, Incorporated Comments on Favorable Ruling from Delaware Court of Chancery Lee Enterprises, Incorporated announced that the Delaware Court of Chancery on February 25, 2022 denied all of the motions brought by Alden Global Capital LLC (together with its affiliates, “Alden”), which were aimed at delaying the company’s 2022 Annual Meeting. The Company issued the following statement: This is now the second court ruling in less than two weeks rejecting Alden’s desperate efforts to destabilize Lee and push its grossly undervalued proposal to purchase the Company. Lee applauds the Court’s latest decision and looks forward to holding its 2022 Annual Meeting on March 10, 2022, as planned.” Lee urges shareholders to vote FOR all three of Lee’s proposed director nominees – Mary E. Junck, Herbert W. Moloney and Kevin D. Mowbray – at the Company’s 2022 Annual Meeting. Announcement • Feb 01
Strategic Investment Opportunities Threatens Legal Actions On January 28, 2022, Strategic Investment Opportunities LLC delivered to Lee Enterprises, Incorporated a letter requesting to inspect a complete list of the Company’s stockholders and certain other corporate records as permitted by applicable state law. Strategic Investment Opportunities stated that the purpose of the stockholder list demand letter is to enable Strategic Investment Opportunities to communicate with the Company’s stockholders in connection with its solicitation and any other matters that may properly come before the annual meeting. Announcement • Dec 10
Alden Global Capital LLC cancelled the acquisition of the remaining 93.7% stake in Lee Enterprises, Incorporated (NasdaqGS:LEE) from shareholders. Alden Global Capital LLC made a proposal to acquire remaining 93.7% stake in Lee Enterprises, Incorporated (NasdaqGS:LEE) from shareholders for approximately $130 million on November 22, 2021. Alden proposal is to purchase Lee Enterprises for $24.00 per share in cash. Colleen B. Brown, Carlos P. Salas and John S. Zieser have been nominated to serve on Lee’s Board of Directors. All-cash offer carries no financing condition. Consistent with its fiduciary duties, and in consultation with its financial and legal advisors, Lee’s Board of Directors will carefully review Alden’s proposal. Lee’s has adopted a poison pill. As of November 22, 2021, there is no need for Lee shareholders to take any action. As of November 24, 2021, Lee's Board of Directors has unanimously adopted a limited-duration shareholder rights plan. Moelis & Co. acted as financial advisor and Akin Gump Strauss Hauer & Feld LLP and Olshan Frome Wolosky LLP acted as legal advisors to Alden Global Capital. J.P. Morgan is acting as financial advisor and Kirkland & Ellis LLP and Lane & Waterman LLP are acting as legal advisors to Lee.
Alden Global Capital LLC cancelled the acquisition of the remaining 93.7% stake in Lee Enterprises, Incorporated (NasdaqGS:LEE) from shareholders on December 9, 2021. The Board of Directors of Lee Enterprises has unanimously rejected the unsolicited proposal received from Alden Global Capital. After careful consideration with its financial and legal advisors, Lee’s Board determined that Alden’s proposal grossly undervalues Lee and is not in the best interests of Lee Enterprises and its shareholders. Announcement • Dec 09
Praetorian Capital Sends Letter to Lee Enterprises On December 8, 2021, Harris Kupperman submitted a letter to the board of directors of Lee Enterprises, Incorporated regarding the takeover proposal by Alden Global Capital, LLC issued on November 22, 2021. Harris Kupperman’s letter is regarding the recently announced proposal by Alden Global Capital, LLC to acquire the Company for $24 per share, along with responding to the December 3rd press release by the Company stating that the Company’s Board of Directors is evaluating Alden Global Capital’s proposal to determine the course of action that it views is in the best interests of the Company and its shareholders. Harris Kupperman added that Alden Global Capital’s proposed purchase price is clearly insufficient and opportunistic, grossly undervaluing the business. Harris Kupperman stated that he refuses to tender any shares at $24, nor will he tender any shares at a price even remotely close to today’s price. Harris Kupperman also stated that he intends to retain legal counsel and protect his investor’s rights should the Board agree to sell the Company at a price that he deems to be insufficient. Announcement • Dec 05
Lee Enterprises Provides Information to Shareholders On December 3, 2021, Lee Enterprises, Incorporated announced that the notice submitted by Alden Global Capital, LLC which purported to nominate 3 candidates to stand for election to the Company's Board of Directors at the Company’s 2022 annual meeting, is invalid. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improved over the past week After last week's 24% share price gain to €21.40, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 22x in the Media industry in Germany. Total returns to shareholders of 4.4% over the past three years. Announcement • Sep 03
Cannell Capital Urges Board and Management Revamp at Lee Enterprises On, September 3, 2021, Cannell Capital announced that, Lee Enterprises, Inc. board and management have become gun shy, lacking the vicissitude necessary to compete in today's digital environment. Defense and half measures will not, and cannot, work in 2021. Further, Cannell Capital stated that ,the failure of the current board to recognize and take immediate and aggressive action is a large part of the justification for significant change. Digital transition is inevitable. In addition, Cannell Capital calls upon all owners to infuse the Company board with more forward thinking people to accomplish this mission and increase value for all shareholders. Time is not an ally in the digital world. It is for these reasons Cannell Capital will vote against all incumbent directors and encourage other owners to do the same. Reported Earnings • Aug 09
Third quarter 2021 earnings released: EPS US$0.56 (vs US$0.23 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$196.5m (up 7.6% from 3Q 2020). Net income: US$3.23m (up US$4.50m from 3Q 2020). Profit margin: 1.6% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • May 24
Investor sentiment deteriorated over the past week After last week's 22% share price decline to US$21.80, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 27x in the Media industry in Germany. Total returns to shareholders of 4.3% over the past three years. Reported Earnings • May 11
Second quarter 2021 earnings released: US$0.20 loss per share (vs US$0.95 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$192.4m (up 59% from 2Q 2020). Net loss: US$1.13m (loss narrowed 79% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improved over the past week After last week's 22% share price gain to US$29.80, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 27x in the Media industry in Germany. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improved over the past week After last week's 16% share price gain to US$21.50, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 21x in the Media industry in Germany. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 15% share price gain to US$2.22, the stock is trading at a trailing P/E ratio of 21.3x, up from the previous P/E ratio of 18.5x. This compares to an average P/E of 20x in the Media industry in Germany. Total returns to shareholders over the past three years are 17%. Executive Departure • Mar 01
Independent Director has left the company On the 25th of February, Richard Cole's tenure as Independent Director ended after 15.0 years in the role. As of December 2020, Richard personally held 135.24k shares (€133k worth at the time). A total of 2 executives have left over the last 12 months. Announcement • Feb 25
Lee Enterprises, Incorporated Announces Executive Changes Lee Enterprises, Incorporated has named new leadership for the Charlottesville and Roanoke markets, effective immediately. Eric Mayberry, who most recently was regional vice president of Amplified Digital, was named president and director of local sales and marketing of The Daily Progress in Charlottesville, Virginia. Mayberry succeeds Peter Yates, who has left the company. Most recently, Worthington was vice president of digital advertising for Convertly.com and Adtaxi in San Jose,
California. His career also includes experience as a district sales manager for ReachLocal.in San Francisco and
Sacramento, California. Announcement • Feb 18
Lee Enterprises, Incorporated Launches Feast and Field, New Food-Focused Digital Magazine Lee Enterprises, Incorporated announced the launch of Feast and Field, a new food-focused digital magazine exploring farming, food production, culinary history and cooking. Feast and Field will give readers an up-close look at food in an approachable way that inspires and captivates a broad national audience. Through in-depth profiles and enticing recipes as well as engaging photography and video, this new publication will educate American consumers and empower them to make informed choices, becoming more deeply connected with their communities. Is New 90 Day High Low • Feb 18
New 90-day high: €1.89 The company is up 125% from its price of €0.84 on 19 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 21% over the same period. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improved over the past week After last week's 23% share price gain to US$1.84, the stock is trading at a trailing P/E ratio of 17.3x, up from the previous P/E ratio of 14x. This compares to an average P/E of 27x in the Media industry in Germany. Total return to shareholders over the past three years is a loss of 5.6%. Reported Earnings • Feb 07
First quarter 2021 earnings released: EPS US$0.28 (vs US$0.095 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$211.8m (up 73% from 1Q 2020). Net income: US$15.9m (up 199% from 1Q 2020). Profit margin: 7.5% (up from 4.3% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 02
New 90-day high: €1.32 The company is up 90% from its price of €0.69 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 36% over the same period. Announcement • Jan 28
Lee Enterprises, Incorporated Appoints Matthew Tranquill as General Manager and Advertising Director Lee Enterprises, Incorporated announced that Rapid City Journal President and Director of Local Advertising Sales Matthew Tranquill has been named general manager and director of local advertising sales for the Morning News in Florence, South Carolina. Former publisher Bailey Dabney has left the company. Announcement • Jan 23
Lee Enterprises, Incorporated to Report Q1, 2021 Results on Feb 04, 2021 Lee Enterprises, Incorporated announced that they will report Q1, 2021 results Pre-Market on Feb 04, 2021 Announcement • Jan 16
Lee Enterprises, Incorporated, Annual General Meeting, Feb 25, 2021 Lee Enterprises, Incorporated, Annual General Meeting, Feb 25, 2021, at 09:00 Central Standard Time. Agenda: To elect two directors for terms of three years; To ratify the selection of KPMG LLP as the Company's independent registered public accounting firm for fiscal year 2021; To consider grant the Board of Directors the discretionary authority to effect a reverse stock split; and To transact any other business that is properly brought before the meeting. Recent Insider Transactions • Jan 06
Insider recently bought €626k worth of stock On the 28th of December, Brent Baird bought around 614k shares on-market at roughly €1.02 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €767k more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Dec 29
New 90-day high: €1.00 The company is up 41% from its price of €0.71 on 30 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 24% over the same period. Reported Earnings • Dec 12
Full year 2020 earnings released: US$0.05 loss per share The company reported a soft full year result with weaker earnings and control over expenses, although revenues were improved. Full year 2020 results: Revenue: US$618.0m (up 21% from FY 2019). Net loss: US$3.11m (down 122% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 73% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 12
New 90-day high: €0.94 The company is up 35% from its price of €0.70 on 11 September 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: €0.84 The company is up 13% from its price of €0.75 on 27 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 24% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: €0.68 The company is down 20% from its price of €0.84 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 6.0% over the same period. Announcement • Jul 04
Lee Enterprises, Incorporated(NYSE:LEE) dropped from Russell 2000 Dynamic Index Lee Enterprises, Incorporated(NYSE:LEE) dropped from Russell 2000 Dynamic Index 
