Saga Q3 Revenue Falls 5.4% as Net Loss Widens

RADIO ONLINE | Thursday, November 12, 2026 | 2:10pm CT

Saga Communications

Saga Communications reported third-quarter net revenue of $26.7 million, down 5.4% from $28.2 million a year earlier. The company's net loss widened to $7.1 million from $532,000, primarily because of a $9.2 million noncash impairment charge on its FCC licenses.

Saga attributed the write-down to higher interest rates, lower operating margins and reduced market revenue projections. The company reported an operating loss of $9.8 million, compared with $626,000 a year earlier. Excluding the charge, Saga said its operating loss would have been $563,000 and its net loss would have been about $240,000, or 3 cents per share.

Station operating expenses fell 1.7% to $24.2 million, while station operating income, a non-GAAP measure, declined to $2.4 million from $3.5 million. Gross political advertising revenue rose to $1.2 million from $73,000 a year earlier. Saga said it had booked about $3.6 million in gross political revenue for the fourth quarter.

For the nine months ended September 30, net revenue fell 5.8% to $75.9 million from $80.6 million. Station operating income declined to $6.2 million from $11.7 million, and the net loss widened to $8.5 million, or $1.34 per diluted share, from $979,000, or 15 cents per diluted share.

Saga's board declared a quarterly cash dividend of 25 cents per share, payable December 11 to shareholders of record November 23. The payment will total about $1.6 million. The company had $23.5 million in cash and short-term investments at the end of the quarter.