Welcome to our dedicated page for Saga Communications news (Ticker: SGA), a resource for investors and traders seeking the latest updates and insights on Saga Communications stock.
Saga Communications, Inc. (Symbol: SGA) is a prominent broadcast company primarily engaged in the acquisition, development, and operation of radio stations, television stations, and state radio networks. With a strategic focus on mid-sized markets, Saga operates an impressive portfolio of broadcast properties across 25 markets. This includes 62 FM and 30 AM radio stations, a state radio network, 2 farm radio networks, 4 television stations, and 4 low power television stations.
Saga Communications employs a variety of programming formats to cater to diverse audience preferences, including classic hits, adult contemporary, active rock, oldies, news/talk, country, and classical music. Their television stations are affiliated with major networks such as CBS and FOX in Joplin, MO, and ABC, FOX, NBC, Telemundo, and Univision in Victoria, TX.
The company’s operating strategy emphasizes the development of strong, decentralized local management teams that handle the day-to-day operations of each station. This approach ensures that each station can effectively serve its local community while maintaining high operational standards. Saga Communications generates most of its revenue through the sale of advertising slots on its various broadcast platforms.
Recent achievements for Saga include expanding its market reach and enhancing its broadcasting capabilities. The company continually seeks to improve its services through technological advancements and strategic partnerships. Financially, Saga Communications maintains a solid position, reflected in its consistent performance and cash flow as indicated in its financial statements.
Saga’s commitment to quality broadcasting and local engagement has made it a significant player in the mid-sized market broadcasting industry. Investors and stakeholders can look forward to continued growth and innovation as the company pursues its objective of leading in top billing radio and television stations.
Saga Communications, Inc. (Nasdaq: SGA) is set to release its 3rd Quarter 2022 earnings on November 3, 2022, at 9:00 a.m. EDT, followed by a conference call at 11:00 a.m. EDT. Participants can dial in at (973) 528-0008 with the entry code 902265. The earnings release will include non-GAAP financial measures, such as station operating income and free cash flow, with reconciliations provided. The company operates radio properties in 27 markets, comprising 79 FM and 35 AM stations.
Saga Communications, Inc. (SGA) announced a quarterly cash dividend increase to $0.25 per share and a special cash dividend of $2.00 per share, payable on October 21, 2022, to shareholders of record by October 3, 2022. The total cash outlay for these dividends will be approximately $13.6 million, contributing to over $93 million in dividends paid since 2012. The Board expressed confidence in Saga’s financial strength and future operational goals, aiming to maintain a consistent dividend issuance.
Saga Communications announced the passing of its founder, Chairman, President, and CEO, Ed Christian, on August 19, 2022. Warren Lada, a board member and former COO, has been appointed as the Interim CEO. Under Ed's leadership since 1986, Saga expanded to own 79 FM and 35 AM radio stations, alongside 80 translator stations in 27 markets, and became publicly traded in 1992 under the ticker symbol SGA. The company acknowledges Ed's significant impact on the broadcast industry and expresses condolences to his family and colleagues.
Saga Communications reported a 6.3% increase in net revenue to $29.8 million for Q2 2022, up from $28.0 million in Q2 2021. Station operating income rose by 10.6% to $9.3 million. The company's net income was $3.8 million, compared to $3.3 million the previous year. For the first half of 2022, revenue increased 8.8% to $54.8 million. However, free cash flow decreased to $3.2 million from $4.2 million. The company is investing in capital expenditures for future growth, including a $1.1 million property purchase.
Saga Communications, Inc. (Nasdaq: SGA) announced the release of its 2nd Quarter 2022 results on August 5, 2022, at 9:00 a.m. EDT. A conference call will follow at 11:00 a.m. EDT, where participants can discuss inquiries submitted in advance. The earnings release will include non-GAAP financial measures like station operating income and free cash flow, with a reconciliation to GAAP metrics provided. Saga operates 79 FM and 35 AM radio stations across 27 markets, reinforcing its position in the broadcasting industry.
Saga Communications (Nasdaq - SGA) has declared a quarterly cash dividend of $0.20 per share, up from $0.16. The dividend, amounting to approximately $1.2 million, will be paid on July 1, 2022, to shareholders of record on June 13, 2022. Since 2012, Saga has distributed over $79 million in dividends to its shareholders. The company plans to continue its regular quarterly cash dividends and may explore special cash dividends, stock dividends, and stock buybacks in the future.
Saga Communications reported a 12% increase in net revenue to $25 million for Q1 2022, up from $22.3 million year-over-year. Operating expenses also rose by 8.7%, totaling $20.6 million, while station operating income climbed 17.8% to $5.6 million. Net income reached $1.2 million compared to $758 thousand previously, resulting in diluted earnings per share of $0.20. The company declared a $0.16 quarterly dividend and a special $0.50 dividend earlier in the year, with total dividends paid exceeding $78 million since 2012. Cash on hand stood at $55.2 million.
Saga Communications (Nasdaq: SGA) will release its 1st Quarter 2022 financial results on May 5, 2022, at 9:00 a.m. EDT. A conference call is scheduled for the same day at 1:00 p.m. EDT, with dial-in details provided. Shareholders and interested parties can submit questions via email by 10:00 a.m. EDT on the same date. The earnings release will include non-GAAP financial measures, with reconciliations to GAAP measures included in the report.
Saga Communications reported a 13.1% increase in net revenue, reaching $108.3 million for the year ending December 31, 2021, compared to $95.8 million the previous year. Excluding political revenue, gross revenue grew 18.4%. Operating income rose to $15.1 million, up from $3.9 million last year. Free cash flow also increased to $13.8 million from $7.6 million. The company declared a quarterly dividend of $0.16 and a special dividend of $0.50 totaling $4 million in January 2022, contributing to over $78 million paid in dividends since 2012.
Saga Communications, Inc. (Nasdaq - SGA) announced a quarterly cash dividend of $0.16 per share, payable on April 8, 2022, to shareholders recorded by March 21, 2022. The total payout will be approximately $970 thousand, contributing to over $78 million in dividends paid since 2012. The company plans to continue regular quarterly dividends and may consider special dividends or stock buybacks in the future, reflecting its commitment to returning value to shareholders.
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