Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-11588 Saga Communications, Inc. (Exact name of registrant as specified in its charter) Florida 38-3042953 (State ...

Saga Communications (SGA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Good day, everyone, and welcome to the Saga Communications First Quarter Earnings Release. At this time, all participants have been placed on a listen only mode. It is now my pleasure to turn the floor over to your host, Chris Forge. Sir, the floor is yours. Speaker1 Thank you, Matt, and good morning to everyone who's taking the time to join Saga's twenty twenty five q earnings call q one earnings call. We appreciate your cont ...

Saga Communications (SGA) came out with a quarterly loss of $0.25 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 24.24%. A quarter ago, it was expected that this broadcasting company would post a loss of $0.12 per share when it actually produced earnings of $0.20, delivering a surprise of 266.67%.Over the last four quarters, the c ...

Contact: Samuel D. Bush (313) 886-7070 Grosse Pointe Farms, MI – May 8, 2025 – Saga Communications, Inc. (Nasdaq - SGA) (the "Company," "Saga," "we," or "our") today reported that net revenue decreased 4.3% to $24.2 million for the quarter ended March 31, 2025 compared to $25.3 million for the same period last year. Station operating expense decreased 2.2% for the quarter to $22.0 million compared to the same period last year. For the quarter, our operating loss was $2.3 million compared to an operating los ...

GROSSE POINTE FARMS, Mich., May 08, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company”, “Saga”, “we” or “our”) today reported that net revenue decreased 4.3% to $24.2 million for the quarter ended March 31, 2025 compared to $25.3 million for the same period last year. Station operating expense decreased 2.2% for the quarter to $22.0 million compared to the same period last year. For the quarter, our operating loss was $2.3 million compared to an operating loss of $2.4 million f ...

GROSSE POINTE FARMS, Mich., April 14, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (NASDAQ:SGA) announced today that it will release its 1st Quarter 2025 results at 9:00 a.m. EDT on Thursday, May 8, 2025. The company will be holding a conference call on the same date at 11:00 a.m. EDT. The dial-in numbers are as follows: Domestic and International Dial-in Number: (973) 528-0008 Conference Entry Code: 530273 The Company requests that all parties that have a question that they would like to submit to t ...

GROSSE POINTE FARMS, Mich., April 14, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq: SGA) announced today that it will release its 1st Quarter 2025 results at 9:00 a.m. EDT on Thursday, May 8, 2025. The company will be holding a conference call on the same date at 11:00 a.m. EDT. The dial-in numbers are as follows: Domestic and International Dial-in Number: (973) 528-0008 Conference Entry Code: 530273 The Company requests that all parties that have a question that they would like to submit to ...

Financial Data and Key Metrics Changes - For Q4 2024, net revenue decreased by 1.3% to $28.8 million compared to $29.1 million last year, with political revenue impacting performance [22] - Operating income was $984,000, and net income for the quarter was $1.3 million or $0.20 per fully diluted share [24] - For the full year, net revenue decreased by 2.2% to $110.3 million compared to $112.8 million last year [25] Business Line Data and Key Metrics Changes - Interactive revenue, which includes online news, grew by 20.9% to $11.6 million for the year and by 19.5% to $3 million for Q4 [33] - E-commerce revenue increased by $904,000 to $2.4 million for the year and by $55,000 to $569,000 for Q4 [34] - Station operating expenses increased by 4.5% for the year to $94.3 million, with a notable increase in compensation-related expenses [26][29] Market Data and Key Metrics Changes - The U.S. advertising market is projected to grow from $421 billion in 2024 to $456 billion in 2025, with digital advertising expected to account for 75% of that spend [8] - Radio's share of digital advertising remains low at 0.67%, indicating a need for improvement in capturing digital ad dollars [7] Company Strategy and Development Direction - The company is focusing on a blended advertising strategy that integrates radio, search, and display to enhance effectiveness and capture a larger share of digital advertising [12][51] - The strategy aims to disrupt the local digital advertising market, which is seen as fragmented and confusing, by providing simpler and clearer solutions [10][11] - The company plans to invest in existing infrastructure rather than starting anew, which is expected to accelerate growth [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledges a challenging advertising environment but expresses optimism for improvement in the second half of the year [62] - The company expects revenue growth to turn positive starting in Q2 2025, driven by ongoing digital initiatives [38] Other Important Information - The company paid a quarterly dividend of $0.25 per share, totaling approximately $1.6 million for each payment [35] - As of December 31, 2024, the company had $27.8 million in cash and short-term investments [36] Q&A Session Summary Question: Current advertising market trends in Q1 - Management noted that January and February were down high single digits, while March showed improvement with a decline in mid-single digits [60] Question: Consideration of central casting to reduce costs - Management confirmed that massive cuts are not planned and emphasized the importance of their workforce [64] Question: Changes in digital strategy - Management reiterated that radio improves as digital improves and highlighted the ongoing transformational strategic plan [66]

Revenue Performance - Net revenue decreased 1.3% to $28.8 million for Q4 2024 compared to $29.1 million in Q4 2023[1] - For the twelve-month period ended December 31, 2024, net revenue decreased 2.2% to $110.3 million compared to $112.8 million in 2023[3] - Net operating revenue for the three months ended December 31, 2024, was $28,770,000, a decrease of 1.3% compared to $29,145,000 for the same period in 2023[18] - For the twelve months ended December 31, 2024, net operating revenue was $110,294,000, a decrease of 2.2% from $112,773,000 in 2023[22] - The company experienced a decrease in same station net operating revenue of 3.9% for the twelve months ended December 31, 2024, compared to the previous year[30] Operating Income - Operating income for Q4 2024 was $984 thousand, down 64.8% from $2.8 million in Q4 2023[1] - Operating income for the three months ended December 31, 2024, was $984,000, down 64.8% from $2,795,000 in the same period of 2023[18] - Operating income for the twelve months ended December 31, 2024, was $2,355,000, significantly lower than $11,488,000 in 2023[22] - Operating income for the twelve months ended December 31, 2024, was $2,355 million, down 79.5% from $11,488 million for the same period in 2023[30] - The company reported a same station operating income of $1,033 million for the three months ended December 31, 2024, compared to $2,795 million for the same period in 2023, reflecting a decline of 63.1%[30] Net Income - Net income for the twelve-month period was $3.5 million, down from $9.5 million in 2023[3] - Net income for the three months ended December 31, 2024, was $1,269,000, a decline of 49.2% compared to $2,501,000 for the same period in 2023[18] - Net income for the twelve months ended December 31, 2024, was $3,460,000, down from $9,500,000 in 2023, representing a decline of 63.6%[22] Earnings Per Share - Diluted earnings per share were $0.20 for Q4 2024, compared to $0.40 in Q4 2023[1] - Basic and diluted earnings per share for the three months ended December 31, 2024, were both $0.20, down from $0.40 in the same period of 2023[18] - Basic and diluted earnings per share for the twelve months ended December 31, 2024, were both $0.55, compared to $1.55 in 2023[22] Expenses - Station operating expense increased 4.1% to $24.3 million for Q4 2024 compared to the same period last year[1] - Station operating expense for the twelve-month period increased 4.5% to $94.3 million compared to the previous year[3] - Station operating expense for the three months ended December 31, 2024, was $24,297 million, an increase of 4.1% from $23,329 million for the same period in 2023[30] - The total station operating expense for the twelve months ended December 31, 2024, was $94,280 million, an increase of 4.5% from $90,199 million for the same period in 2023[30] - Corporate general and administrative expenses for the twelve months ended December 31, 2024, increased to $12,611 million, up 15% from $10,966 million for the same period in 2023[30] Cash and Investments - As of December 31, 2024, the company had $27.8 million in cash and short-term investments[6] Capital Expenditures - Capital expenditures for 2024 were $3.8 million, down from $4.4 million in 2023[3] Debt and Leverage - Total long-term debt, including current maturities, was $5,000,000, with a leverage ratio of 0.46 based on trailing twelve-month consolidated EBITDA of $10,978,000[27] Depreciation and Amortization - Depreciation and amortization for radio stations for the twelve months ended December 31, 2024, was $5,070,000, an increase from $4,854,000 in 2023[22] Other Income - Other operating income for the twelve months ended December 31, 2024, was $1,048 million, significantly higher than $120 million for the same period in 2023[30] Adjustments - Adjustments for acquisitions and dispositions impacted the same station operating income by $49 million for the three months ended December 31, 2024[30]

Core Points - Saga Communications, Inc. reported a net revenue decrease of 1.3% to $28.8 million for Q4 2024 compared to $29.1 million in Q4 2023 [1] - Operating income for Q4 2024 was $984 thousand, down from $2.8 million in the same quarter last year, representing a decline of 63% [2][1] - For the full year 2024, net revenue decreased by 2.2% to $110.3 million compared to $112.8 million in 2023 [3] - The company experienced a significant drop in net income for the year, reporting $3.5 million compared to $9.5 million in 2023 [3][4] Financial Performance - Station operating expenses increased by 4.1% to $24.3 million in Q4 2024, while for the full year, they rose by 4.5% to $94.3 million [1][3] - Diluted earnings per share for Q4 2024 were $0.20, down from $0.40 in Q4 2023 [1][15] - Capital expenditures for Q4 2024 were $600 thousand, a decrease from $1.0 million in the same period last year, and total capital expenditures for the year were $3.8 million compared to $4.4 million in 2023 [1][3] Dividends and Cash Position - The company paid a quarterly dividend of $0.25 per share on December 13, 2024, and another on March 7, 2025, totaling approximately $1.6 million for each payment [5] - As of December 31, 2024, Saga had $27.8 million in cash and short-term investments, which slightly decreased to $27.3 million by March 10, 2025 [6] Market Position and Strategy - Saga Communications operates in 28 markets with a focus on radio broadcasting, owning 82 FM and 31 AM stations [12] - The company aims to expand its business model to include digital, e-commerce, and local online news services, complementing its core radio operations [12]