Welcome to our dedicated page for Boston Omaha news (Ticker: BOC), a resource for investors and traders seeking the latest updates and insights on Boston Omaha stock.
Boston Omaha Corp (BOC) is a diversified holding company with strategic interests in real estate, outdoor advertising, broadband services, and insurance. This page provides investors and stakeholders with a centralized source for official company announcements and market-related developments.
Access timely updates including earnings reports, acquisition activity, leadership changes, and operational milestones. Our curated news collection enables efficient tracking of BOC's multi-industry strategy and book value growth initiatives.
All content is sourced directly from company filings and verified financial publications. Bookmark this page for streamlined monitoring of BOC's billboard leasing updates, real estate investments, and broadband service expansions across key U.S. markets.
Boston Omaha (NYSE: BOC) reported its Q2 2024 financial results. Total revenues increased to $27,087,783, up from $24,216,394 in Q2 2023. However, the company reported a net loss from operations of $4,396,615, compared to a loss of $1,642,904 in the same period last year. The net loss attributable to common stockholders was $2,235,219, or $0.07 per share, compared to a net income of $1,541,612, or $0.05 per share, in Q2 2023.
The company's billboard rentals and broadband services showed growth, while premiums earned also increased. Total assets stood at $723,064,123 as of June 30, 2024. The company's book value per share decreased to $16.86 from $17.19 at the end of 2023. Cash inflow from operations for the first half of 2024 improved to $6.9 million, compared to $4.4 million in the same period of 2023.
Fiber Fast Homes, a subsidiary of Boston Omaha (NYSE: BOC), has appointed Randy Cosby as its new CEO. Cosby, co-founder of InfoWest, brings 30 years of experience in the Internet service provider industry. He will lead Fiber Fast Homes' efforts to collaborate with developers and builders for fiber-to-the-home Internet installations in new developments.
Cosby replaces Scott Sampson and will maintain his role as Executive VP at InfoWest. His background includes launching InfoWest in 1994 and overseeing various aspects of the company's growth. The appointment aims to leverage Cosby's expertise in growing ISPs and providing exceptional customer experiences to further Fiber Fast Homes' expansion and market leadership.
Boston Omaha (NYSE: BOC) has announced leadership changes in its broadband division, Boston Omaha Broadband (BOB). J. Max Meisinger, previously CFO of BOB, has been promoted to President and CEO, replacing Steve McGhie, who is stepping down to focus on personal interests but will remain as a consultant. BOB serves over 44,000 subscribers in Arizona and Utah, and provides broadband services to large-scale new home developments in Florida and other states.
Meisinger, who joined Boston Omaha in 2019, brings extensive financial and leadership experience to his new role. The company believes his skills will help BOB achieve significant growth and improved operating profitability. Key team members Mark Burgers and Frank DeJoy will support Meisinger in business development and network deployment, respectively.
Boston Omaha (NYSE: BOC) has announced a $20 million share repurchase program for its Class A common stock, effective from August 15, 2024, through September 30, 2025. The program allows the company to repurchase shares through open market purchases or privately-negotiated transactions, in compliance with Rule 10b-18. Adam Peterson, Chairman and CEO, stated that the program adds to their capital allocation options, allowing opportunistic share repurchases alongside continued business investments. The Board has also authorized the establishment of Rule 10b5-1 trading plans for these repurchases. The actual timing, number, and value of shares repurchased will depend on various factors, including price, market conditions, and alternative investment opportunities.
Boston Omaha (NYSE: BOC) has scheduled its 2024 Annual Meeting of Stockholders for September 20, 2024.
The meeting will take place at The Salvation Army Omaha Kroc Center – Joyce Mammel Assembly Hall, Omaha, NE, beginning at 10:00 a.m. Central Time.
This year’s meeting will be held in-person without remote streaming.
The new deadline for stockholder proposals and director nominations is June 14, 2024, superseding previous deadlines set in their March 27, 2023 proxy statement.
Proposals must comply with SEC's Rule 14a-8 and the company’s bylaws.
Stockholders should send their submissions to Boston Omaha 's office at 1601 Dodge Street, Suite 3300, Omaha, NE.
Boston Omaha (NYSE: BOC) announced its financial results for Q1 2024, ending March 31. Key highlights include:
Total revenues of $25.55M, up from $22.82M in Q1 2023.
Billboard Rentals and Broadband Services contributed $10.70M and $9.68M, respectively.
Net loss from operations was $2.06M, down from $2.98M in Q1 2023.
Net loss attributable to common stockholders was $2.81M, or $0.09 per share, compared to $3.32M or $0.11 per share in Q1 2023.
Total assets decreased to $757.34M from $768.21M at the end of 2023.
Total unrestricted cash and investments decreased to $33.63M from $71.27M.
Depreciation and amortization expenses increased to $5.34M from $4.51M.
Cash inflow from operations was $2.42M, compared to $1.37M in Q1 2023.
Boston Omaha announced the departure of Co-CEO Alex Rozek to pursue new entrepreneurial opportunities, leaving Adam Peterson as the sole CEO. The company has evolved into a diversified holding company with interests in outdoor advertising, surety insurance, fiber to the home, and minority interests in other corporations. Boston Omaha plans to focus on growing existing business lines before considering new opportunities, aiming to increase value per share for shareholders.
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