Welcome to our dedicated page for Saga Coms news (Ticker: SGA), a resource for investors and traders seeking the latest updates and insights on Saga Coms stock.
Saga Communications, Inc. (Nasdaq: SGA) is a Florida-incorporated media company that operates broadcast properties and related media initiatives across 28 markets. The SGA news feed on this page brings together the company’s press releases and other coverage so readers can follow developments in its radio, digital, e‑commerce, local on-line news, and non-traditional revenue initiatives.
News about Saga frequently covers its financial results, including quarterly earnings releases detailing net operating revenue, station operating expense, operating income or loss, net income or loss, capital expenditures, and selected balance sheet data. These releases often include both GAAP figures and non-GAAP measures such as station operating income, same station financial information, pro forma financial information, trailing twelve-month consolidated EBITDA, and leverage ratio, along with reconciliations.
Investors can also find updates on capital allocation decisions, such as declarations of quarterly cash dividends on the company’s Class A Common Stock and announcements of stock repurchase transactions or potential stock buyback plans funded in part by asset sales. Additional news items highlight asset portfolio actions, including the sale of telecommunications tower sites combined with long-term antenna site leases that allow Saga to continue using the towers while adjusting its asset base.
Other Saga news includes information about investor conference presentations, board composition changes, and governance updates, such as amendments to the company’s bylaws. For readers tracking SGA, this page offers a centralized view of company-issued announcements and related coverage, making it easier to monitor how Saga’s broadcast operations, digital initiatives, financial performance, and corporate actions evolve over time.
Saga Communications reported financial results for Q3 2024, showing a decline in performance. Net revenue decreased 3.5% to $28.1 million, while station operating expense increased 3.1% to $23.5 million. Operating income fell to $1.6 million from $3.5 million year-over-year. The company reported net income of $1.3 million with diluted earnings per share of $0.20.
For the nine-month period, net revenue decreased 2.5% to $81.5 million, with operating income dropping to $1.4 million from $8.7 million. The company maintained strong liquidity with $28.7 million in cash and short-term investments, paying a quarterly dividend of $0.25 per share.
Saga Communications (Nasdaq: SGA) has scheduled its 3rd Quarter 2024 earnings release for Thursday, November 7, 2024, at 9:00 a.m. EST, followed by a conference call at 11:00 a.m. EST. Stakeholders can submit questions via email to SagaIR@sagacom.com by 10:00 a.m. EST on the same day. The earnings release will include non-GAAP metrics such as station operating income and consolidated EBITDA. Saga operates in 28 markets with 82 FM stations, 32 AM stations, and 79 metro signals, focusing on broadcast properties and digital initiatives.
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.
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