Beasley Broad Stock Price, News & Analysis

Beasley Broadcast Group (Nasdaq: BBGI) is set to release its 2023 first quarter financial results before market opening on April 26, 2023. A conference call will follow at 11:00 a.m. ET to discuss these results. Interested parties can join the call by dialing 877-407-4018 or 201-689-8471, using conference ID 13738280. A live webcast will also be available on the company's website.

The company, celebrating its 62nd anniversary, operates 61 AM and FM stations across 14 markets, reaching approximately 20 million consumers weekly. The conference call will allow for questions from analysts and investors, submitted up to 9:00 a.m. ET on the same day.

Beasley Broadcast Group, Inc. (BBGI) reported a fourth-quarter operating loss of $33.5 million, primarily due to $44.2 million in non-cash impairment losses. For the three months ended December 31, 2022, net revenue increased 1.8% to $72.0 million, driven by gains in digital and political revenues, despite a drop in audio revenue. The net loss for the quarter was $25.8 million, with a diluted share loss of $0.87. For the full year, net revenue reached $256.4 million, but operating losses totaled $36.1 million, compared to operating income of $14.7 million in 2021. The company is finalizing its impairment assessment, which may lead to adjustments in the reported results.

Beasley Broadcast Group, Inc. (Nasdaq: BBGI) will announce its 2022 fourth quarter financial results on February 16, 2023, prior to market opening. A conference call and webcast will take place at 11:00 a.m. ET the same day to discuss the results. Interested parties can access the call by dialing 877-407-4018 or 201-689-8471, using conference ID 13735868, or via live webcast at www.bbgi.com. Following the call, a replay will be available for five days on the website. Analysts and investors can submit questions until 9:00 a.m. ET on February 16 for discussion during the call.

Beasley Broadcast Group reported a 23.1% increase in digital revenue year-over-year for Q3 2022, contributing to a net revenue of $63.8 million, up from $62.9 million in Q3 2021. The company's net income reached $0.5 million, a significant improvement from a net loss of $1.6 million in the previous year. Although operating income slightly decreased to $4.7 million, Station Operating Income (SOI) rose by 5.1% to $12.3 million. Total outstanding debt stands at $290 million, with a strong liquidity position of $32.8 million in cash.

Beasley Broadcast Group, Inc. (Nasdaq: BBGI) has announced that it will release its third quarter financial results for 2022 before the market opens on November 7, 2022. A conference call and webcast will follow at 10:00 a.m. ET to discuss these results. Interested parties can join the call by dialing +1 773-305-6853 with conference ID 9182446 or listen via the company's website. Beasley operates 61 radio stations and reaches approximately 20 million unique consumers weekly through various platforms, celebrating over 60 years in the media industry.

Beasley Media Group (Nasdaq: BBGI) announced an asset exchange with Audacy, Inc. to trade its radio station KDWN-AM/101.5 FM for KXTE-FM 107.5 in Las Vegas. This move reinforces Beasley's commitment to premium local programming and augments its existing radio presence in the Las Vegas market, which includes four other stations. The exchange is slated for completion in Q4 2022, pending regulatory approval. Beasley has been managing its station portfolio for over 61 years, aiming to serve local communities effectively.

Beasley Broadcast Group (BBGI) reported an 8.8% increase in net revenue to $64.8 million for Q2 2022, fueled by recovery in audio and digital advertising. However, the company experienced an operating loss of $4.5 million, reflecting an $8.6 million non-cash impairment loss. Net loss reached $14.5 million, equating to $(0.48) per diluted share, compared to a profit of $0.2 million in Q2 2021. The total outstanding debt stood at $295 million with $45.9 million cash on hand. Digital revenue surged by 34.3%, contributing to growth, as the company initiated cost reductions to combat economic challenges.

Beasley Broadcast Group (BBGI) will announce its second quarter financial results on August 1, 2022, before market opening. A conference call is scheduled for 10:00 a.m. ET, allowing analysts and investors to engage with the management team. Beasley operates 61 stations across the U.S., serving approximately 20 million listeners weekly through various platforms. The company's esports portfolio includes the Houston Outlaws and BeasleyXP. For further updates, a replay of the call will be available for five days on their website.

Beasley Broadcast Group (BBGI) reported a 15.6% increase in net revenue for Q1 2022, reaching $55.7 million, primarily due to a 35.5% rise in digital segment revenue. However, the company faced an operating loss of $2.7 million, driven by rising expenses, including a $1.9 million non-cash impairment loss from the sale of WWNN-AM. Net loss improved to $3.7 million or $0.13 per diluted share, contrasting with a larger loss of $10.7 million in Q1 2021. Total debt stood at $300.0 million with $50.7 million in cash available.