Saga Communications, Inc. reports media-company developments tied to its radio, digital, e-commerce, local online news and other non-traditional revenue initiatives. The company acquires, develops and operates broadcast properties, with stations and metro signals serving advertisers across 28 markets.
Recurring SGA news includes quarterly and year-end financial results, station operating income and other non-GAAP measures, advertising and political revenue trends, digital revenue, capital expenditures and conference-call schedules. Company announcements also cover cash dividends on Class A common stock, share repurchases, investor presentations and governance or leadership-continuity updates when they affect operations.
Saga Communications, Inc. (Nasdaq: SGA) will release its 3rd Quarter 2020 results on November 4, 2020, at 9:00 a.m. EST. A conference call will follow at 11:00 a.m. EST, with dial-in information provided. Participants can submit questions to the company by 10:00 a.m. EST on the same day. The earnings release will include non-GAAP financial measures such as station operating income and free cash flow, with reconciliations to GAAP measures included in the release. Saga operates in 27 markets with a portfolio of 79 FM and 34 AM radio stations.
On August 5, 2020, Saga Communications (Nasdaq: SGA) reported significant impacts from COVID-19 on its second quarter revenue, indicating a decline of over 55% in April. However, subsequent months showed improvement, with July revenue down 29%. The company ended Q2 with a net revenue of $16.9 million and an operating loss of $8.7 million, driven by a non-cash impairment charge of $3.8 million. They maintain a conservative leverage ratio of 0.65 and have $48.9 million in cash. Capital expenditures are projected to decrease to $2.0-$2.5 million for the year.
Saga Communications (Nasdaq: SGA) will release its 2nd Quarter 2020 results on August 5, 2020, at 9:00 a.m. EDT. A conference call will follow at 11:00 a.m. EDT to discuss the earnings release.
Participants can dial (973) 528-0008 with the entry code 521008. Questions for the call must be submitted via email by 10:00 a.m. EDT on the same day. The earnings release will include non-GAAP measures such as station operating income and free cash flow.
Saga Communications (Nasdaq - SGA) has announced the temporary suspension of its quarterly cash dividend due to economic uncertainties stemming from COVID-19. To safeguard its cash position, the company will also cut planned capital expenditures and negotiate vendor discounts. Saga believes that preserving cash may allow it to capitalize on favorable acquisition opportunities when market conditions improve. The company will evaluate the possibility of resuming dividends as economic conditions permit.