Q2 2024 Yellow Pages Ltd Earnings Call Transcript
Key Points
- Yellow Pages Ltd (YLWDF) reported a favorable bending of the revenue curve for the second consecutive quarter, indicating improved revenue trends.
- The company achieved a 17% increase in new account gains compared to the previous quarter, showcasing effective sales strategies.
- Adjusted EBITDA for the quarter was 26.5% of revenue, reflecting solid profitability despite ongoing investments.
- The company maintained a healthy cash balance of approximately $34 million at the end of July, demonstrating strong cash generation.
- A dividend of $0.25 per common share was declared, indicating confidence in financial stability and shareholder returns.
- Total revenues decreased by $6.9 million or 11% year-over-year, primarily due to declines in digital media and print products.
- Digital revenues fell by 10.2% year-over-year, driven by a decrease in digital customer count and reduced spend per customer.
- Print revenues decreased by 13.6% year-over-year, attributed to a decline in the number of print customers.
- Adjusted EBITDA decreased by $7.2 million or 32.7% year-over-year, impacted by lower revenue and increased operating expenses.
- Net income dropped to $7.6 million for the second quarter, down from $12.7 million in the same period last year, due to lower adjusted EBITDA.
Good morning, ladies and gentlemen. Welcome to Yellow Pages second-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 second 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. Good morning, everyone. Thank you for joining our quarter two analyst call. I'm joined
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