Home Login RADIO ONLINE RSS Facebook
Advertisement

Saga Reports Decline in Q4 Revenue and Profits


Saga Communications
Saga Communications

Saga Communications reported a decrease in both quarterly and annual financial results for the period ending December 31, 2024. The company cited various market challenges that impacted its performance throughout the year. For the fourth quarter of 2024, Saga reported a 1.3% decline in net revenue, totaling $28.8 million, down from $29.1 million in the corresponding period of the previous year.

The company also saw a significant reduction in its operating income, which fell from $2.8 million in Q4 2023 to $984 thousand in Q4 2024, a sharp 65% decrease. Net income for the quarter also dropped to $1.3 million from $2.5 million year-over-year, with diluted earnings per share decreasing to $0.20 from $0.40.

The annual figures similarly reflected downward trends, with net revenue for 2024 totaling $110.3 million, a 2.2% decrease from $112.8 million in 2023. Operating income plummeted by nearly 79.5% to $2.4 million, down from $11.5 million in the previous year. Net income for the year was $3.5 million compared to $9.5 million in 2023, and diluted earnings per share stood at $0.55, down from $1.55.

The company's station operating expenses showed a mixed trend. While quarterly operating expenses increased by 4.1% to $24.3 million, the annual expenses rose by 4.5% to $94.3 million. Saga attributed the increase in expenses to inflationary pressures and strategic investments in station operations.

Despite the financial downturn, Saga remains committed to its dividend policy. The company paid a quarterly dividend of $0.25 per share in December 2024 and March 2025, continuing its history of returning value to shareholders, with total dividends paid amounting to over $137 million since 2012.

Looking ahead, Saga expects to spend between $4.0 million to $4.5 million in capital expenditures for 2025. The company's balance sheet remains robust, with $27.3 million in cash and short-term investments as of March 10, 2025.

Advertisement

Latest Radio Stories

Nueva Network Promotes Jose Mateo to President of Sales
Jose Mateo
Jose Mateo
Nueva Network, a Spanish-language audio network, elevates Jose Mateo (pictured) as President of Sales for Terrestrial Radio and Digital Media. Concurrently, industry veteran Jim Lyke joins as Senior Vice President of Sales and Business Development. "The strength of Nueva Network is rooted in our More

Audacy, Kansas City Royals Announce Extended Partnership
KFNZ-FM (96.5 The Fan)/Kansas City
KFNZ-FM (96.5 The Fan)/Kansas City
Audacy and the Kansas City Royals have agreed to a multi-year extension of their partnership, keeping KFNZ-FM (96.5 The Fan) as the Royals' flagship outlet. The station, Kansas City's first full-time FM sports broadcaster, will air all Spring Training, regular season, and postseason Royals games. More

Former St. Louis Sportscaster McKenna Killed in Crash
Brian McKenna
Brian McKenna
The St. Louis community is in mourning following the tragic death of former sports broadcaster Brian McKenna, who was fatally struck by a vehicle in an overnight pedestrian accident. The incident occurred early Saturday morning near the intersection of Hampton and Nottingham avenues in the St. Louis Hills More
Advertisement

iHeartMedia, Loren LoRosa to Debut Daily Podcast
''The Latest with Loren LoRosa''
''The Latest with Loren LoRosa''
The entertainment landscape will gain a fresh voice with the debut of "The Latest with Loren LoRosa," a new daily podcast hosted by rising media star Loren LoRosa, beginning March 31. Available on iHeartMedia and Charlamagne Tha God's Black Effect Podcast Network, the show will delve into the most compelling More

Longtime Chiefs Radio Network EP Dan Israel Dies
Dan Israel
Dan Israel
Dan Israel, the executive producer of the Kansas City Chiefs Radio Network and a beloved figure within the organization, has died after a decade-long battle with cancer. Israel, who served the Chiefs for 35 seasons, was a pivotal figure in the growth of the network, which now boasts affiliates across 12 More

SiriusXM Appoints Anjali Sud as Independent Director
Anjali Sud
Anjali Sud
SiriusXM Holdings appoints Anjali Sud to its board of directors as a new independent director. Sud currently holds the position of Chief Executive Officer at Tubi, FOX Corporation's free ad-supported streaming service. Her prior experience includes her role as CEO of Vimeo, where she led the company through More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement