Every 10-Q that Saga Communications, Inc. (SGA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SGA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SGA filings page.
Saga Communications reported weaker results for the first half of 2026. Net operating revenue was $49.3 million, down 6.0% from 2025, with Q2 revenue of $26.4 million, down 6.5%. Growth in digital advertising partly offset declines in local and national broadcast revenue.
Station operating expenses rose to $45.4 million for the six months, contributing to an operating loss of $2.6 million and a net loss of $1.4 million (vs. a $0.4 million loss a year earlier). Q2 itself remained profitable with net income of $0.96 million, helped by $1.55 million of gains on non-core asset sales.
Cash from operations was negative $1.3 million for the six months, but Saga ended June 30, 2026 with $18.4 million in cash and $196.8 million in total assets. The company had $5.0 million of debt reclassified as current after a covenant breach; this debt was repaid and the credit agreement terminated in August 2026. The board maintained its capital return policy, paying $0.50 per share in dividends in the first half. Saga is also reshaping its portfolio through tower and property sales and signed a seven-year joint sales agreement to sell advertising for University of Florida stations starting September 1, 2026.
Saga Communications reported a larger net loss for the quarter ended March 31, 2026 as revenue declined and it breached a key debt covenant. Net operating revenue fell to $22.9 million from $24.2 million, mainly from weaker local, national and other revenue, partly offset by strong digital growth.
Station operating expenses were steady at $22.0 million, while corporate costs and depreciation declined, leading to an operating loss of $3.3 million. Net loss widened to $2.4 million or $(0.38) per share. Digital advertising revenue rose to $4.4 million, about 19% of total revenue, reflecting the company’s blended radio‑and‑digital strategy.
Saga ended the quarter with cash and cash equivalents of $21.1 million and long‑term debt of $5.0 million. Its fixed charge coverage ratio was 0.92 to 1.00 versus the 1.15 to 1.00 minimum under its Credit Agreement; lenders granted a waiver for this March 31, 2026 covenant noncompliance.
Saga Communications (SGA) filed its Q3 2025 10‑Q, reporting net operating revenue of $28.2 million versus $28.7 million a year ago. The quarter swung to a net loss of $0.5 million compared with net income of $1.3 million last year, or diluted EPS of $(0.08) versus $0.20. Year‑to‑date revenue was $80.6 million versus $83.7 million, with a net loss of $1.0 million versus net income of $2.2 million.
Operating cash flow remained positive: net cash provided by operating activities was $5.5 million for the nine months. Cash and equivalents were $17.1 million, long‑term debt was $5.0 million, and the company had $45 million of unused revolver capacity at quarter‑end. The company recorded approximately $2.1 million of retroactive ASCAP and BMI rate adjustments in station operating expenses. Assets held for sale were $4.4 million and liabilities held for sale were $0.8 million.
Subsequent event: Saga sold 24 telecom towers at 22 sites for approximately $10.7 million, receiving about $8.7 million in cash at closing and $1.8 million placed in escrow, with 25‑year $1 annual leasebacks for continued use. The board declared quarterly dividends totaling $0.75 per share year‑to‑date.
Saga Communications (SGA) reported mixed results for the quarter and first half of 2025. Net operating revenue for the three months ended June 30, 2025 was $28.23 million, down from $29.72 million the prior year, while station operating expense fell to $22.23 million from $23.31 million. The company recorded quarterly net income of $1.13 million (basic EPS $0.18), but a six-month net loss of $447,000 (basic EPS $(0.07)), versus a six-month profit of $924,000 a year earlier. Cash and cash equivalents were $15.79 million and short-term held-to-maturity Treasury bills were $9.12 million. Operating cash flow for the six months was $2.12 million. The balance sheet shows total assets of $218.87 million, total liabilities of $55.19 million, and total shareholders' equity of $163.68 million. Management remains in compliance with credit covenants and had approximately $45 million of unused borrowing capacity under its credit facility.