Saga Q2 Revenue Falls 6.5% to $26.4 Million

RADIO ONLINE | Thursday, August 13, 2026 | 3:58pm CT

Saga Communications

Saga Communications reported second quarter 2026 net revenue of $26.4 million, down 6.5% from $28.2 million in the same period a year ago. Station operating income fell 50.6% to $3.0 million.

Station operating expenses increased 5.4% to $23.4 million, or 3.9% excluding non-cash rent expense. Operating income declined to $623,000 from $1.4 million a year earlier. Net income was $960,000, compared with $1.1 million in the second quarter of 2025, while diluted earnings per share were $0.15.

For the first six months of 2026, net revenue declined 6.0% to $49.3 million from $52.4 million. Station operating income dropped 53.7% to $3.8 million. Saga posted an operating loss of $2.6 million and a net loss of $1.4 million, or $0.23 per diluted share, for the six-month period.

Saga said its results include the impact of the October 2025 sale of 24 telecommunications towers and related assets at 22 sites for approximately $10.7 million. The company retained long-term access to the assets and is recording non-cash rent expense and non-cash interest income associated with the transaction. During the second quarter, Saga recorded $352,000 in non-cash rent expense and $381,000 in non-cash interest income.

The company paid a quarterly dividend of $0.25 per share on June 12, totaling approximately $1.6 million. Saga said it has returned more than $145 million in dividends to shareholders since paying its first special dividend in 2012 and intends to continue paying regular quarterly cash dividends.

Saga had $27.8 million in cash and short-term investments as of June 30. That figure stood at $22.9 million as of August 10, with the decrease primarily attributed to repayment of the $5 million outstanding under its revolving credit facility. The company expects capital expenditures of approximately $3 million to $3.5 million for 2026.