Saga Communications, Inc. released its Q2 2025 earnings report on August 7, 2025.
Key financial highlights:
- Net Revenue: Decreased 5.0% to $28.2 million from $29.7 million in Q2 2024. Same-station net revenue fell 6.4% to $27.6 million.
- Station Operating Expenses: Dropped 4.6% to $22.2 million, with same-station expenses down 6.4% to $21.7 million.
- Operating Income: Declined to $1.4 million from $2.1 million in Q2 2024. Station operating income (non-GAAP) decreased 6.4% to $6.0 million.
- Net Income: Fell to $1.1 million ($0.18 per diluted share) from $2.5 million in Q2 2024, missing analyst estimates of $0.23 per share. Revenue was slightly below expectations of $29.5 million.
- Capital Expenditures: Reduced to $1.3 million from $1.5 million in Q2 2024, with a full-year 2025 projection of $3.0–$3.5 million.
- Cash Position: $24.9 million in cash and short-term investments as of June 30, 2025, increasing to $27.3 million by August 4, 2025.
- Dividends: Paid a quarterly dividend of $0.25 per share on June 27, 2025, totaling ~$1.6 million. Cumulative dividends since 2012 exceed $138 million.
- Strategic Moves: In non-binding talks to sell tower sites, expecting proceeds in the high seven-figure to low eight-figure range. Evaluating non-core asset sales to fund stock buybacks.