Saga Coms Stock Price, News & Analysis

Saga Communications (Nasdaq: SGA) has announced key leadership changes. Samuel D. Bush has been promoted to Executive Vice President, while retaining his roles as Chief Financial Officer and Treasurer. Bush, who joined Saga in 1997, previously served as Senior Vice President since 2002. Additionally, Wayne Leland has been elevated to Chief Operating Officer from his previous position as Senior Vice President/Operations. Leland joined Saga in 2011 and became part of the executive team in January 2023.

CEO Chris Forgy praised the promotions, highlighting the strength of Saga's leadership team. Both Bush and Leland expressed enthusiasm for their new roles and commitment to Saga's future success.

Saga Communications (Nasdaq: SGA) has announced a quarterly cash dividend of $0.25 per share, payable on October 18, 2024, to shareholders of record on September 25, 2024. The total payout will be approximately $1.6 million, funded by the company's cash reserves. This dividend continues Saga's commitment to shareholder returns, having paid about $134 million in dividends since 2012.

The company has adopted a variable dividend policy to balance maintaining a strong balance sheet, increasing cash returns to shareholders, and pursuing strategic acquisitions. Saga operates 82 FM and 32 AM radio stations across 28 markets, with a growing focus on digital and non-traditional revenue initiatives.

Saga Communications (Nasdaq: SGA) reported a 1.5% decrease in net revenue to $28.7 million for Q2 2024, compared to $29.2 million last year. Station operating expenses rose by 5.1% to $23.5 million. Operating income fell to $2.1 million from $4.3 million last year, while station operating income dropped to $6.4 million from $8.0 million. Net income declined to $2.5 million from $3.4 million, with diluted EPS at $0.40. For the first half of 2024, net revenue decreased by 2.0% to $53.4 million, station operating expenses increased by 5.5% to $46.5 million, and operating loss was $0.3 million compared to a $5.2 million profit last year. The company’s net income for the six-month period was $0.9 million, with a diluted EPS of $0.15. Saga acquired five radio stations and one translator in Lafayette, IN. Quarterly dividends of $0.25 per share were paid in June, totaling $1.6 million. The balance sheet shows $24.1 million in cash and short-term investments.

Saga Communications (Nasdaq: SGA) has announced the release date for its 2nd Quarter 2024 financial results. The company will unveil its earnings on Thursday, August 8, 2024, at 9:00 a.m. EDT, followed by a conference call at 11:00 a.m. EDT. Investors can dial in using the number (973) 528-0008 with the conference entry code 379213.

Saga encourages stakeholders to submit questions via email to SagaIR@sagacom.com by 10:00 a.m. EDT on the day of the release. The earnings report will include non-GAAP financial measures such as station operating income and consolidated EBITDA, with reconciliations provided. Saga operates 82 FM and 32 AM radio stations across 28 markets, focusing on broadcast properties and digital initiatives.

Saga Communications (Nasdaq - SGA) announced a quarterly cash dividend of $0.25 per share, payable on June 28, 2024, to shareholders of record as of June 3, 2024. The total payment will be approximately $1.6 million, funded by existing cash reserves. Since 2012, Saga has distributed around $132 million in dividends. The company adheres to a variable dividend policy aimed at maintaining a robust balance sheet, rewarding shareholders, and facilitating growth through strategic acquisitions. Future dividends and potential stock buybacks will be decided by the Board based on financial performance, cash needs, and other factors. Saga operates in 27 markets, managing 79 FM and 31 AM radio stations along with 78 metro signals.

Saga Communications, Inc. reported a 2.5% decrease in net revenue to $24.7 million in the first quarter of 2024 compared to the same period last year. Operating loss was $2.4 million, with a decrease in station operating income by 40.9% to $2.8 million. The Company had a net loss of $1.6 million and paid dividends totaling $5.4 million. The balance sheet shows $23.7 million in cash and short-term investments as of May 6, 2024.