Q3 2024 Yellow Pages Ltd Earnings Call Transcript
Key Points
- Yellow Pages Ltd (YLWDF) reported a favorable bending of the revenue curve for the third consecutive quarter, indicating progress toward revenue stability.
- The company achieved a 36% increase in new customer acquisitions compared to the same quarter last year, suggesting strong growth potential.
- Adjusted EBITDA for the quarter was on track at 23.8% of revenue, demonstrating solid profitability despite ongoing investments.
- Cash on hand grew to approximately $43 million by the end of October, reflecting strong cash generation.
- The Board declared a dividend of $0.25 per common share, indicating confidence in the company's financial health and commitment to returning value to shareholders.
- Revenues decreased by $5.5 million or 9.4% year over year, primarily due to declines in higher-margin digital media and print products.
- Digital revenues fell by 8.7% year over year, driven by a decrease in digital customer count and reduced spend per customer.
- Print revenues decreased by 12.4% year over year, mainly due to a decline in the number of print customers.
- Adjusted EBITDA decreased by $5.4 million or 30.1% year over year, with margins dropping to 23.8% from 30.9% in the same period last year.
- Net income decreased to $6.3 million for the quarter, down from $10.1 million in the same period last year, due to lower adjusted EBITDA.
Good morning, ladies and gentlemen. Welcome to Yellow Pages third-quarter 2024 earnings release call.
Today's conference call contains forward-looking information about Yellow Pages' outlook, objectives, and strategy. These statements are based on assumptions and are subject to important risks and uncertainties.
Yellow Pages' actual results could differ materially from expectations discussed. The details of Yellow Pages caution regarding forward-looking information, including key assumptions and risks, can be found in Yellow Pages Management's Discussion and Analysis for the third quarter of 2024.
This call is being recorded and webcast. And all of the disclosure documents are available on the company's website and on SEDAR. I would now like to turn the meeting over to Mr. David Eckert, President and Chief Executive Officer. Please go ahead, sir.
Thank you very much, and good morning to everyone. Thank you for joining us for our third-quarter analyst call.
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