LEE ENTERPRISES, Inc

Listed Company

LEECIK 0000058361NasdaqNon-AcceleratedSmaller ReportingNewspapers: Publishing Or Publishing & PrintingDelawareFY ends Sep 29

Period

FY 2025

Revenue

—

Net Income

$-37.59M

Total Assets

$601.73M

Equity

$-43.31M

Shares Out

22.24M

Op. Cash Flow

$-5.54M

Business

LEE ENTERPRISES, Inc is a digital-first subscription and marketing services company that produces and distributes trusted local news and information. It offers digital subscription platforms, daily and weekly newspapers, niche editorial products, branded content, over-the-top advertising, AI-powered marketing solutions, and targeted print. Its key business segments include subscription revenue, advertising and digital marketing services (including its Amplified suite), commercial printing and distribution, and a SaaS content management solution (BLOX Digital). The company serves mid-sized communities across multiple states through print, web, mobile, social and other emerging channels.

Summary from filing dated 2025-11-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total operating revenue	562	611	691	781	795
Compensation	216	235	267	318	331
Newsprint and ink	13	17	25	—	—
Other operating expenses	295	302	323	345	326
Depreciation and amortization	19	28	31	—	43
Assets loss on sales, impairments and other, net	3	11	2	—	—
Restructuring costs and other	26	19	13	23	7
Total operating expenses	571	611	660	762	745
Equity in earnings of associated companies	4	5	7	6	6
Operating (loss) income	−5	5	37	25	57
Interest expense	−41	−41	−41	−42	—
Pension withdrawal cost	0	0	−1	−2	−13
Pension and OPEB related benefit and other, net	3	2	2	19	9
Curtailment/Settlement gain	0	4	0	1	24
Total non-operating expense, net	−38	−36	−40	−24	−25
Loss before income taxes	−43	−31	−3	795,000	32
Income tax benefit	−7	−8	−349,000	698,000	7
Net loss	−36	−24	−3	97,000	25
Net income attributable to non-controlling interests	−2	−2	−3	−2	−2
Loss attributable to Lee Enterprises, Incorporated	−38	−26	−5	−2	23
Other comprehensive income (loss), net of income taxes	3	−7	10	−26	62
Comprehensive (loss) income attributable to Lee Enterprises, Incorporated	−35	−33	5	−28	85
Basic (in dollars per share)	−6.2	−4.35	−0.9	−0.35	3.98
Diluted (in dollars per share)	−6.2	−4.35	−0.9	−0.35	3.9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2022 2022-06-30
Cash and cash equivalents	10	10	15	16	—
Accounts receivable, less allowance for credit losses: 2025 $4,827; 2024 $6,514	55	61	69	70	—
Inventories	5	6	8	8	—
Prepaids and other	20	22	—	—	—
Total current assets	89	98	107	109	—
Associated companies	27	28	28	27	—
Other	6	6	6	6	—
Total investments	33	34	—	—	—
Land and improvements	6	6	12	15	—
Buildings and improvements	65	70	83	95	—
Equipment	192	196	214	216	—
Construction in process	6	6	2	1	—
Property and equipment, gross	268	279	312	327	—
Less accumulated depreciation	232	234	250	253	—
Property and equipment, net	36	44	61	74	—
Operating lease right-of-use assets	25	35	41	47	—
Goodwill	324	328	330	330	—
Other intangible assets, net	52	70	95	121	—
Other	9	12	13	10	—
Total assets	602	649	712	744	—
Current portion of lease liabilities	7	8	8	8	—
Accounts payable	42	36	36	29	—
Compensation and other accrued liabilities	38	39	29	45	—
Unearned revenue	27	32	41	50	—
Total current liabilities	113	115	114	131	—
Long-term debt, net of current maturities	455	446	456	463	—
Operating lease liabilities	19	30	37	46	—
Pension obligations	508,000	561,000	586,000	966,000	—
Postretirement and postemployment benefit obligations	5	8	9	9	—
Deferred income taxes	22	28	41	43	51
Income taxes payable	3	3	6	8	—
Withdrawal liabilities and other	24	25	25	26	—
Total liabilities	643	657	688	727	754
Commitments and Contingent Liabilities (Note 19)	—	—	—	—	—
Serial convertible preferred stock, no par value; authorized 500 shares; none issued	0	0	0	0	—
Additional paid-in capital	264	262	261	260	—
Accumulated deficit	−330	−292	−266	−261	−254
Accumulated other comprehensive income	23	20	27	17	—
Total Lee Enterprises, Inc.stockholders' deficit	−43	−10	21	15	41
Non-controlling interests	2	3	2	2	—
Total deficit	−41	−7	24	17	41
Total liabilities and deficit	602	649	712	744	795

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	19	28	31	—	43
Bad debt expense	15	14	7	5	2
Stock compensation expense	2	2	2	1	854,000
Impairment of non-amortized intangible assets	7	8	8	—	—
Asset (gain) loss on sales and other, net	−4	3	−6	—	—
Earnings, net of distributions, deemed returns on investment of TNI and MNI	885,000	−122,000	−657,000	−576,000	1
Gain on sale of investment	0	0	−2	0	0
Deferred income taxes	−7	−11	−5	−4	5
Non-cash interest	10	0	0	—	—
Other, net	−2	−1	−2	−2	−1
Increase in receivables	−9	−5	−7	—	—
Decrease in inventories and other	538,000	901,000	977,000	−3	1
Increase (decrease) in accounts payable, unearned revenue, other accrued liabilities and operating lease obligations	4	−5	−26	−15	5
Decrease in pension, postretirement and postemployment benefit obligations	−4	−2	−83,000	−21	−3
Change in income taxes payable	−296,000	−2	345,000	−236,000	−8
Other	−2	427,000	−2	3	−1
Net cash (required for) provided by operating activities	−6	1	−3	3	50
Purchases of property and equipment	−2	−9	−5	−8	−7
Proceeds from sales of assets	9	13	12	—	—
Other, net	0	−517,000	2	−386,000	−453,000
Net cash provided by investing activities	8	4	9	7	−2
Principal payments on long-term borrowings	−2	−10	−7	—	—
Purchases of common stock	0	0	−279,000	369,000	253,000
Net cash required for financing activities	−2	−10	−7	−20	−55
Net increase (decrease) in cash and cash equivalents	391,000	−5	−2	−10	−8

Filings

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