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LEE Enterprises (LEE) earnings and revenue breakdown
Latest: Q3 FY26 · 10-Q filed Aug 7, 2026 · LEE Enterprises (LEE) Q3 FY26 earnings results →
Q3 FY26 Revenue down 11% year over year to $126M · 4¢ of every $1 of revenue kept as net profit · operating margin 6.9%
LEE Enterprises made $126M in Q3 FY26 (-11% Y/Y): Advertising and marketing services $59.3M, Subscription $54.7M, Other $11.9M. Operating margin 6.9%, net earnings $4.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $126.0M in Q3 FY26, down 11% year over year and up 3% from the previous quarter. Advertising and marketing services was the largest line at 47% of revenue. Advertising and marketing services lost $7.2M year over year (down 11%), 47% of the total change.
Operating profit was $8.6M, a 6.9% margin (up 3.6 points year over year). Total costs fell 14% while revenue fell 11%. Net earnings were $4.7M. The effective tax rate was 21.3%.
Operating cash flow was $7.9M (down 11% year over year), 153% of net income including minority interests. Non-cash charges added back $3.5M of depreciation and amortization and $181K of share-based compensation. Working capital and other items used $1.0M. Capital expenditures of $1.1M left free cash flow of $6.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 FY26 | 10-Q | Aug 7, 2026 | $126M | -11% | 6.9% | $4.7M | $7.9M |
| Q2 FY26 | 10-Q | May 8, 2026 | $122M | -11% | 7.0% | −$1.7M | −$6.2M |
| Q1 FY26 | 10-Q | Feb 11, 2026 | $130M | -10% | 4.0% | −$5.1M | $4.5M |
| Q4 FY25 | 10-K | Nov 26, 2025 | $139M | -12% | -1.0% | −$5.8M | −$6.3M |
| Q3 FY25 | 10-Q | Aug 8, 2025 | $141M | -6% | 3.3% | −$1.7M | $8.9M |
| Q2 FY25 | 10-Q | May 9, 2025 | $137M | -6% | -3.3% | −$12.0M | −$790K |
| Q4 FY24 | 10-K | Dec 13, 2024 | $159M | -3% | -2.3% | −$9.5M | −$261K |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About LEE Enterprises
Lee Enterprises, Incorporated is a leading digital-first subscription and marketing services company committed to delivering high-quality, trusted, and deeply local news and information. We serve 72 mid-sized communities across 25 states, engaging audiences through a rapidly expanding digital platform that now reaches more than 633,000 digital-only subscribers. Our mission is to strengthen and enrich the communities we serve by providing compelling local content, superior subscriber experiences, and innovative, data-driven advertising and marketing solutions.
In its own words, from its 10-K, filed Nov 26, 2025.
LEE Enterprises against its Newspapers: Publishing or Publishing & Printing peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -11% against the peers' median +6%. Operating margin: 6.9% against the peers' median 13.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LEE LEE Enterprises | Q3 FY26 | $126M | -11% | 6.9% |
| NWSA News | Q1 FY27 | $2.3B | +6% | 13.0% |
| NYT New York Times | Q3 2026 | $769M | +10% | 15.9% |
| TDAY USA Today | Q3 2026 | $519M | -7% | -1.1% |
| DJCO Daily Journal | Q3 FY26 | $27.0M | +15% | 19.5% |
Source: LEE Enterprises 10-Q on SEC EDGAR · CIK 58361 · Newspapers: Publishing or Publishing & Printing
13F: who owns LEE and who is buying
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History
Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results