Beasley Broad Stock Price, News & Analysis

Beasley Broadcast Group, Inc. (Nasdaq: BBGI) will release its 2021 Q1 financial results on May 4, 2021, before market opens. A conference call is scheduled for 11:00 a.m. ET to discuss the results, accessible by dialing +1 334-323-0501 or via a live webcast on the company's website. Questions from analysts and investors can be submitted via email until 9:00 a.m. ET on the same day. Beasley operates 63 radio stations and has expanded into esports with a majority stake in the Houston Outlaws team.

Beasley Broadcast Group (Nasdaq: BBGI) reported a 132.4% increase in net income for Q4 2020, reaching $11.0 million compared to $4.7 million in Q4 2019. Station Operating Income (SOI) grew 28.8% to $20.1 million, aided by reduced operating expenses and a boost from political revenue. Despite a decrease in total revenue to $68.5 million due to COVID-19 impacts, digital and esports revenue remained resilient. Total debt stood at $268.5 million, with a recent bond offering enhancing liquidity.

Beasley Broadcast Group (BBGI) will report its Q4 2020 financial results on February 10, 2021, before market opening. Management will host a conference call at 11:00 a.m. ET to discuss the results, accessible by phone or via a live webcast on the company’s website. Analysts and investors can submit questions up until 9:00 a.m. ET on the same day. Celebrating 60 years in business, Beasley operates 63 radio stations and has expanded into esports with a majority stake in the Houston Outlaws.

Beasley Broadcast Group (BBGI) announced the pricing of its $300 million offering of 8.625% Senior Secured Notes due 2026, increased from an earlier $280 million plan. The offering targets qualified institutional buyers under Rule 144A and will also comply with Regulation S outside the U.S. The offering is expected to close on February 2, 2021. Proceeds will be used to repay existing debt and for general corporate purposes. The Notes will not be registered under the Securities Act, limiting their sale in the U.S.

Beasley Broadcast Group (Nasdaq: BBGI) plans to offer $280 million in senior secured notes through its subsidiary, Beasley Mezzanine Holdings, LLC. The Notes will be fully guaranteed by the company and its majority-owned subsidiaries. Proceeds will be used primarily to repay existing debt and for general corporate purposes. The offering is structured for qualified institutional buyers under Rule 144A and outside the U.S. under Regulation S, and will not be registered under the Securities Act.

Beasley Broadcast Group (BBGI) announced preliminary unaudited financial results for Q4 2020, reporting net revenue between $67.4 million and $67.9 million, a decrease of 5.8% to 6.5% compared to $72.1 million in Q4 2019. The decline was attributed to reduced commercial advertising revenue due to the COVID-19 pandemic, despite gains in digital and political revenue. However, Station Operating Income (SOI) increased by 23.1% to 28.8%% year-over-year to approximately $19.2 million to $20.1 million, and EBITDA rose by 25.0% to 33.8%% to approximately $17.0 million to $18.2 million.

Beasley Broadcast Group (Nasdaq: BBGI) reported Q3 and YTD results for September 30, 2020. Net revenue dropped to $49.6 million from $66.1 million YoY, primarily due to COVID-19's impact on advertising. Operating income rose slightly to $0.8 million, but a net loss of $2.7 million was recorded, down from a net income of $3.0 million last year. Despite challenges, Beasley saw a 1.8% increase in digital revenue, while total operating expenses were reduced by 15.9%. The company anticipates continued expense reductions over the year, maintaining a focus on cash flow and operational efficiency.

Beasley Broadcast Group (Nasdaq: BBGI) will announce its Q3 2020 financial results on November 3, 2020, prior to market opening. A conference call will take place at 11:00 a.m. ET to discuss these results. Interested parties can join by dialing 334-323-0501, conference ID 2300784, or via a live webcast on the company’s website. The event will be followed by a replay available for five days. Beasley, celebrating its 59th anniversary, operates 64 radio stations and has diversified into esports with a majority stake in the Houston Outlaws team.

Beasley Broadcast Group (Nasdaq: BBGI) reported significant financial challenges for Q2 2020, with net revenue declining by nearly 54% year-over-year, totaling $30.4 million, down from $65.7 million in Q2 2019. The company posted an operating loss of $17.6 million, compared to operating income of $10.7 million in the prior year. A net loss of $18.2 million, or $0.63 per diluted share, was noted, affected by COVID-19's impact on advertising revenue. However, digital revenue grew to 14% of total revenue, and initiatives to reduce operating costs by approximately $26 million were implemented.