Saga Reports Decline in Q4 Revenue and Profits
| RADIO ONLINE | Tuesday, March 11, 2025 |
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 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.
