Beasley Broadcast Q4 Revs Up 2.3% to $67.3 Million

RADIO ONLINE | Thursday, March 20, 2025

Beasley Broadcast Group

Beasley Broadcast Group reported a slight increase in net revenue for the fourth quarter, up 2.3% to $67.3 million, buoyed by $8.3 million in political advertising. This gain helped counterbalance declines in commercial advertising and losses from divestitures, including the Wilmington station and closures within its esports division. Despite these challenges, operating income remained stable at $7.6 million, consistent with the prior year.

However, the company registered a net loss of $2.1 million, or $1.17 per diluted share, a stark reversal from a net income of $6.4 million, or $4.25 per diluted share, reported in the corresponding quarter of 2023. The loss was primarily due to significant one-time expenses linked to refinancing activities and severance costs.

Yearly figures showed more pronounced struggles, with net revenue declining to $240.3 million from $247.1 million in 2023. The annual net loss widened to $5.9 million, or $3.73 per diluted share, compared to a loss of $75.1 million the previous year, which included non-cash impairment losses of $98.8 million.

The company's EBITDA per Indenture, a measure critical to creditors, showed improvement, rising to $12.5 million in the fourth quarter from $6.2 million in the prior-year quarter. This increase reflects stringent expense management and operational streamlining by the company.

Caroline Beasley, CEO of Beasley Broadcast Group, commented on the results, stating, "2024 was a transformative year for Beasley as we took decisive actions to strengthen our balance sheet, streamline our operations, and position the Company for long-term success." She highlighted the nearly 20% revenue contribution from digital ventures and emphasized ongoing efforts to enhance digital and direct-to-consumer strategies.