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Saga munications(SGA) - 2024 Q4 - Annual Results
SGASaga munications(SGA)2025-03-11 13:05

Revenue Performance - Net revenue decreased 1.3% to 28.8millionforQ42024comparedto28.8 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 110.3millioncomparedto110.3 million compared to 112.8 million in 2023[3] - Net operating revenue for the three months ended December 31, 2024, was 28,770,000,adecreaseof1.328,770,000, 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,adecreaseof2.2110,294,000, 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 984thousand,down64.8984 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,down64.8984,000, 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,significantlylowerthan2,355,000, significantly lower than 11,488,000 in 2023[22] - Operating income for the twelve months ended December 31, 2024, was 2,355million,down79.52,355 million, down 79.5% from 11,488 million for the same period in 2023[30] - The company reported a same station operating income of 1,033millionforthethreemonthsendedDecember31,2024,comparedto1,033 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 3.5million,downfrom3.5 million, down from 9.5 million in 2023[3] - Net income for the three months ended December 31, 2024, was 1,269,000,adeclineof49.21,269,000, 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,downfrom3,460,000, down from 9,500,000 in 2023, representing a decline of 63.6%[22] Earnings Per Share - Diluted earnings per share were 0.20forQ42024,comparedto0.20 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,downfrom0.20, 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,comparedto0.55, compared to 1.55 in 2023[22] Expenses - Station operating expense increased 4.1% to 24.3millionforQ42024comparedtothesameperiodlastyear[1]−Stationoperatingexpenseforthetwelve−monthperiodincreased4.524.3 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 24,297million,anincreaseof4.124,297 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 94,280million,anincreaseof4.594,280 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 12,611million,up1512,611 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 27.8millionincashandshort−terminvestments[6]CapitalExpenditures−Capitalexpendituresfor2024were27.8 million in cash and short-term investments[6] Capital Expenditures - Capital expenditures for 2024 were 3.8 million, down from 4.4millionin2023[3]DebtandLeverage−Totallong−termdebt,includingcurrentmaturities,was4.4 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]DepreciationandAmortization−DepreciationandamortizationforradiostationsforthetwelvemonthsendedDecember31,2024,was10,978,000[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 4,854,000in2023[22]OtherIncome−OtheroperatingincomeforthetwelvemonthsendedDecember31,2024,was4,854,000 in 2023[22] Other Income - Other operating income for the twelve months ended December 31, 2024, was 1,048 million, significantly higher than 120millionforthesameperiodin2023[30]Adjustments−Adjustmentsforacquisitionsanddispositionsimpactedthesamestationoperatingincomeby120 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]