Core Viewpoint - Saga Communications, Inc. is actively executing its strategic plan to enhance shareholder value and improve financial performance ahead of its earnings call on March 11, 2025 [1][5]. Company Overview - Founded in 1986, Saga focuses on acquiring, developing, and operating broadcast properties, with a current portfolio of 82 FM radio stations, 31 AM radio stations, and 79 metro signals across 28 markets [2][8]. - The company aims to build positive relationships with audiences and clients while delivering robust value to shareholders [2]. Strategic Actions - Saga's management is committed to improving financial results and profitability through various strategic actions, including: - Prioritizing a cost-effective digital strategy tailored to consumer needs in a disruptive digital advertising market [5]. - Aligning costs and operating verticals to enhance profitability without compromising core strengths [5]. - Enhancing corporate governance and refreshing the Board of Directors by recruiting members with significant digital marketing experience [5]. - Evaluating non-core asset sales and stock repurchases to maximize value and enhance shareholder returns [5]. Shareholder Engagement - The company is engaging with its largest shareholder, TowerView LLC, and other investors to ensure alignment on strategic direction [3]. - Saga is addressing a nomination from Gate City Capital Management for four candidates to stand for election to the Board, emphasizing the importance of shareholder perspectives while contesting Gate City's understanding of the business and strategy [4][6]. Upcoming Events - Saga will provide an extensive update on its performance and strategy during the earnings call scheduled for March 11, 2025 [5].

Core Points - Saga Communications, Inc. will release its 4th Quarter and Year End 2024 results on March 11, 2025, at 9:00 a.m. EST [1] - A conference call will follow at 11:00 a.m. EST on the same day to discuss the earnings and other relevant inquiries [1][2] - The earnings release will include non-GAAP financial measures such as station operating income and trailing 12-month consolidated EBITDA [3] Company Overview - Saga is a media company focused on acquiring, developing, and operating broadcast properties, with an increasing emphasis on digital, e-commerce, and non-traditional revenue initiatives [4] - The company operates in 28 markets, owning or operating 82 FM and 31 AM radio stations, along with 79 metro signals [4] Strategic Initiatives - The company is executing an ongoing digital strategy and evaluating non-core asset sales to utilize proceeds for buybacks, dividends, and other corporate purposes [5] - Plans are in place to refresh the board and assess market and corporate level expenses to align with the company's operating verticals [5]

Revenue Performance - For the nine months ended September 30, 2024, approximately 90% of the radio stations' gross revenue was from local advertising, compared to 89% for the same period in 2023[95]. - Net operating revenue for the three months ended September 30, 2024, was $28,118 thousand, a decrease of 3.5% from $29,149 thousand in the same period of 2023[110]. - Consolidated net operating revenue for Q3 2024 was $28,118,000, a decrease of $1,031,000 or 3.5% compared to Q3 2023[112]. - For the nine months ended September 30, 2024, net operating revenue was $81,524,000, down $2,104,000 or 2.5% from $83,628,000 in the same period of 2023[118]. Operating Income and Expenses - Operating income for the three months ended September 30, 2024, was $1,645 thousand, reflecting a significant decline of 52.9% compared to $3,492 thousand in the same period of 2023[110]. - Station operating expenses increased by $698,000 or 3.1% to $23,458,000 for Q3 2024[113]. - Operating income for the nine months ended September 30, 2024 was $1,371,000, a decrease of $7,322,000 or 84.2% from $8,693,000 in the same period of 2023[120]. - Station operating expenses for the nine months ended September 30, 2024 increased by $3,113,000 or 4.7% to $69,983,000[119]. Net Income - Net income for Q3 2024 was $1,267,000 ($0.20 per share), a decrease of $1,462,000 from $2,729,000 ($0.45 per share) in Q3 2023, reflecting a decline of 53.7%[115]. - Net income for the nine months ended September 30, 2024 was $2,191,000 ($0.35 per share), down $4,808,000 or 68.7% from $6,999,000 ($1.15 per share) in the same period of 2023[121]. Debt and Cash Flow - The company had $5,000,000 of debt outstanding as of September 30, 2024, related to the Lafayette acquisition[127]. - Cash flows from operating activities for the nine months ended September 30, 2024 were $10,141,000, compared to $13,921,000 in the same period of 2023[128]. Capital Expenditures and Acquisitions - Capital expenditures for the nine months ended September 30, 2024, were $3.2 million, down from $3.4 million in 2023, with an anticipated range of $4.0 million to $4.5 million for 2024[132]. - The company acquired assets from Neuhoff Communications for $5.3 million, with total transaction costs amounting to $5.832 million[133]. Dividends - Dividends declared for Class A Common Stock totaled $1.35 per share, amounting to approximately $8.5 million as of September 30, 2024, compared to $3.00 per share and approximately $18.6 million in 2023[134]. Future Outlook - The company expects political revenue in 2024 to increase from 2023 levels due to more elections at national, state, and local levels[96]. - Future acquisitions and dividend payments are expected to be financed through operations, borrowings, or a combination thereof[135]. - The company has future cash obligations under various contracts, including its Credit Facility and operating leases[136]. Economic Factors - The broadcasting industry is influenced by economic factors such as unemployment rates, inflation, and energy prices, affecting advertising revenue generation[98]. - The impact of inflation has not been significant to date, but rising costs are beginning to affect operations[138]. - There have been no material changes to the market risk information included in the 2023 annual report[139]. Company Operations - The company operates 82 FM and 32 AM radio stations across 28 markets[93]. - The primary operating expenses include employee salaries, sales commissions, programming expenses, and advertising costs[103]. - The five largest markets combined represented approximately 36% of consolidated station operating income for the nine months ended September 30, 2024[108]. - Interest expense increased by 175.0% to $121 thousand for the three months ended September 30, 2024, compared to $44 thousand in the same period of 2023[110]. - The company is expanding its digital initiatives to enhance user engagement across multiple platforms[104].

Saga Communications, Inc. (NASDAQ:SGA) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Chris Forgy - President & Chief Executive Officer Samuel Bush - Chief Financial Officer Conference Call Participants Operator Good day, everyone and welcome to the Saga Communications Third Quarter 2024 Earnings Release and Conference Call. At this time, all participants have been placed in a listen-only mode. It is now my pleasure to turn the floor over to your host Chris Forgy. Sir, th ...

Exhibit 99.1 Saga Communications, Inc. Reports 3rd Quarter 2024 Results Contact: Samuel D. Bush (313) 886-7070 Grosse Pointe Farms, MI – November 7, 2024 – Saga Communications, Inc. (Nasdaq - SGA) (the "Company" or "Saga") today reported that net revenue decreased 3.5% to $28.1 million for the quarter ended September 30, 2024 compared to $29.1 million for the same period last year. Station operating expense increased 3.1% for the quarter to $23.5 million compared to the same period last year. For the quarte ...

Revenue and Income - For the six months ended June 30, 2024, approximately 90% of the radio stations' gross revenue was from local advertising, compared to 89% for the same period in 2023[82]. - Net operating revenue for the three months ended June 30, 2024, was $28,742,000, a decrease of 1.5% from $29,175,000 in the same period of 2023[94]. - Operating income for the three months ended June 30, 2024, was $2,143,000, reflecting a significant decrease of 50.1% compared to $4,296,000 in the same period of 2023[94]. - Net income for the three months ended June 30, 2024, was $2,501,000, down 25.3% from $3,350,000 in the same period of 2023[94]. - Consolidated net operating revenue for Q2 2024 was $28,742,000, a decrease of $433,000 or 1.5% compared to Q2 2023[96]. - Net income for Q2 2024 was $2,501,000 ($0.40 per share), a decrease of $849,000 from $3,350,000 ($0.55 per share) in Q2 2023[99]. - For the six months ended June 30, 2024, net operating revenue was $53,406,000, down $1,073,000 or 2.0% from $54,479,000 in the same period of 2023[102]. - The company reported an operating loss of $274,000 for the first half of 2024, a decrease of $5,475,000 from operating income of $5,201,000 in the same period of 2023[104]. - Net income for the first half of 2024 was $924,000 ($0.15 per share), down $3,346,000 from $4,270,000 ($0.70 per share) in the first half of 2023[105]. Expenses and Costs - Station operating expenses increased by 5.1% to $23,544,000 for the three months ended June 30, 2024, compared to $22,407,000 in the same period of 2023[94]. - Station operating expenses for the first half of 2024 were $46,525,000, an increase of $2,415,000 or 5.5% compared to the first half of 2023[103]. - Interest expense increased by 65.1% to $71,000 for the three months ended June 30, 2024, compared to $43,000 in the same period of 2023[94]. Market and Advertising - The company expects political revenue in 2024 to increase from 2023 levels due to more elections at national, state, and local levels[83]. - The five largest markets represented approximately 36% of consolidated net operating revenue for the six months ended June 30, 2024[91]. - The company continues to expand its digital initiatives to enhance advertising opportunities and audience engagement[89]. Cash Flow and Capital Expenditures - Cash flows from operating activities for the first half of 2024 were $5,047,000, compared to $6,038,000 in the same period of 2023[110]. - Capital expenditures for the six months ended June 30, 2024, were $2.574 million, with an anticipated range of $5.0 million to $5.5 million for the full year 2024[113]. Acquisitions and Debt - The company had $5,000,000 of debt outstanding at June 30, 2024, related to the Lafayette acquisition[109]. - The company completed the acquisition of radio assets for $5.3 million on May 31, 2024, financed through operations and borrowings totaling $5.85 million[113]. - Future acquisitions and dividend payments are expected to be financed through operations, borrowings, or a combination thereof, with no assurance of availability on acceptable terms[114]. - The company has future cash obligations under various contracts, which will be financed through operations or additional borrowings[115]. Dividends - Dividends declared in 2024 totaled $1.10 per share, amounting to approximately $6.9 million, compared to $3.00 per share and approximately $18.6 million in 2023[114]. Inflation and Market Risk - Inflation has not significantly impacted operations to date, but rising costs of goods and services are being observed[116]. - There have been no material changes to the market risk information included in the 2023 annual report[117].

Financial Data and Key Metrics Changes - For Q2 2024, net revenue decreased by 1.5% to $28.7 million compared to $29.2 million in the same period last year [9] - Station operating expense increased by 5.1% to $23.5 million for the quarter [9] - Net income for Q2 was $2.5 million or $0.40 per fully diluted share [9] - For the six-month period ended June 30, 2024, net revenue decreased by 2% to $53.4 million compared to $54.5 million last year [11] - Station operating income for the six months was $9.2 million, with net income of $900,000 or $0.15 per fully diluted share [11][12] Business Line Data and Key Metrics Changes - Digital or interactive revenue increased by $822,000 or 33.4% year-over-year [6] - E-commerce revenue surged by $348,000 or 98.5% year-over-year [6] - Streaming revenue rose by $382,000 or 34% [6] - New service revenue increased by $344,000 or 159% for the quarter [7] Market Data and Key Metrics Changes - The categories that experienced the largest decline included restaurants, recruitment, automotive, and grocery [3] - Political revenue for Q2 was $288,000, up from $108,000 in the same period last year [9] - Political revenue for the six-month period was $598,000 compared to $301,000 last year [11] Company Strategy and Development Direction - The company is focusing on transformational change and growth, particularly in the online news and community sites [20][24] - Emphasis on hyper-local news to connect with communities and create advertising opportunities [21][22] - Plans to strategically invest in operations to grow specific revenue types, including local and national, interactive, and e-commerce [15] Management's Comments on Operating Environment and Future Outlook - Management noted that the current economic environment is impacting local advertisers, particularly those spending $2,000 to $4,000 per month [4][29] - There is an expectation that these advertisers will return, but the timing is uncertain [29] - The company anticipates a soft pacing for Q3, down mid-single digits, but expects improvement [17] Other Important Information - Capital expenditures for Q2 were $1.5 million, with expectations to spend between $5 million and $5.5 million for the year [15] - The company has $24.1 million in cash and short-term investments as of June 30, 2024 [16] - A quarterly dividend of $0.26 per share was paid, totaling approximately $1.6 million [16] Q&A Session Summary Question: What are you hearing from your local advertisers regarding advertising trends? - Management indicated that local advertisers are holding back due to economic conditions but expect them to return [29] Question: What struggles have you experienced with your digital offerings? - Management highlighted the need for speed in execution and expressed confidence in the runway for current service offerings [30] Question: Can you discuss capital allocation and stock repurchases? - Management stated that capital allocation is continuously evaluated, and while buybacks are not currently part of the plan, they may be considered in the future [31]

Financial Performance - Net revenue decreased 1.5% to $28.7 million for Q2 2024 compared to $29.2 million in Q2 2023[1] - Operating income for Q2 2024 was $2.1 million, down from $4.3 million in Q2 2023[1] - Net income for Q2 2024 was $2.5 million, compared to $3.4 million in Q2 2023[1] - For the six-month period ended June 30, 2024, net revenue decreased 2.0% to $53.4 million compared to $54.5 million in the same period last year[3] - Net operating revenue for the six months ended June 30, 2024, was $53,406,000, a decrease of 1.98% from $54,479,000 in the same period of 2023[15] - Net income for the three months ended June 30, 2024, was $2,501,000, down 25.4% from $3,350,000 in the same period of 2023[14] - Operating income for the three months ended June 30, 2024, was $2,143,000, a decline of 50% compared to $4,296,000 in the same period of 2023[14] - Basic earnings per share for the three months ended June 30, 2024, were $0.40, down from $0.55 in the same period of 2023[14] - Basic and diluted earnings per share for Q2 2024 were $0.15, compared to $0.70 in Q2 2023, reflecting a decrease of approximately 78.6%[18] - The adjusted net income for the six months ended June 30, 2024, was $4.793 million, down from $8.110 million in the same period of 2023[20] Operating Expenses - Station operating expense increased 5.1% to $23.5 million for Q2 2024 compared to the same period last year[1] - Station operating expense for the six-month period increased 5.5% to $46.5 million compared to the same period last year[3] - Station operating income for Q2 2024 was $6.411 million, compared to $7.966 million in Q2 2023, representing a decrease of approximately 19.5%[19] - Corporate general and administrative expenses for Q2 2024 were $3.049 million, an increase from $2.472 million in Q2 2023, marking a rise of approximately 23.3%[21] - Station depreciation and amortization for the six months ended June 30, 2024, was $2.365 million, slightly down from $2.395 million in the same period of 2023[19] Cash Flow and Investments - Cash flows from operating activities for the six months ended June 30, 2024, were $5,047,000, down from $6,038,000 in the same period of 2023[13] - Total adjustments in cash flows from operating activities for the six months ended June 30, 2024, were $4,123,000, compared to $1,768,000 in the same period of 2023[13] - Cash and cash equivalents at the end of the period on June 30, 2024, were $15,392,000, a decrease from $24,116,000 at the end of June 30, 2023[13] - The company reported a net decrease in cash and cash equivalents of $14,190,000 for the six months ended June 30, 2024[13] Capital Expenditures and Acquisitions - The company expects to spend approximately $5.0 – $5.5 million for capital expenditures during 2024[6] - Capital expenditures for the six months ended June 30, 2024, totaled $2.574 million, compared to $2.637 million in the same period of 2023[20] - The company closed on the acquisition of five radio stations and one translator in Lafayette, IN on May 31, 2024[4] Debt and Financial Ratios - Total long-term debt, including current maturities, stood at $5 million as of June 30, 2024[20] - Trailing twelve-month consolidated EBITDA for the period ended June 30, 2024, was $14.497 million, reflecting a leverage ratio of 0.34[20]

Domestic and International Dial-in Number: (973) 528-0008 Conference Entry Code: 379213 GROSSE POINTE FARMS, Mich., July 15, 2024 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (NASDAQ:SGA) announced today that it will release its 2nd Quarter 2024 results at 9:00 a.m. EDT on Thursday, August 8, 2024. 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: The Company requests that all parties that have a question that they would like to submit to ...

GROSSE POINTE FARMS, Mich., May 22, 2024 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the "Company", "Saga" or "our") today announced that its Board of Directors ("Board") declared a quarterly cash dividend of $0.25 per share. The dividend will be paid on June 28, 2024, to shareholders of record on June 3, 2024. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.6 million. The quarterly dividend will be funded by cash on the Com ...