Beasley Q3 Revenue Falls 16.1%, Net Loss Widens

RADIO ONLINE | Friday, November 13, 2026 | 4:41pm CT

Beasley Media

Beasley Broadcast Group reported third-quarter net revenue of $42.8 million, down 16.1% from $51 million a year earlier. The company's net loss widened to $12.1 million, or $6.51 per diluted share, from $3.6 million, or $1.97 per diluted share. Adjusted EBITDA fell to $1.3 million from $3.9 million.

Revenue declined 10.2% on a same-station basis in the quarter ended September 30. Beasley cited continued weakness in traditional national and local agency advertising, partly offset by a 7% increase in same-station local direct revenue and contributions from political advertising. Local revenue, including digital packages sold locally, fell 6% and accounted for 76% of net revenue.

Digital revenue declined 24% to $9.8 million, or 12.3% on a same-station basis, and accounted for 23% of net revenue. The digital segment's operating margin rose to 32% from 21% a year earlier, or 26% on a same-station basis.

The operating loss widened to $12.8 million from $500,000. Operating expenses, excluding corporate expenses, depreciation and amortization, fell 15.1%, or about $7 million. Station operating income was $3.6 million, for a margin of 8.5%.

"The structural cost reductions implemented over the past two years are helping us protect profitability amid continued revenue pressure, while our digital business is generating stronger operating margins," said CEO Caroline Beasley. She said the company remains focused on rebuilding core revenue, improving cash flow and reducing debt.

For the first nine months of 2026, net revenue fell to $129.5 million from $152.9 million, and Adjusted EBITDA declined to $5.4 million from $9.7 million. Beasley reported net income of $75.4 million, compared with a $6.4 million loss a year earlier. Same-station digital revenue increased 4.4% over the nine-month period.

After the quarter closed, Beasley completed the sale of two radio stations and two parcels of real estate, generating more than $10 million in net proceeds. The company said the outstanding principal on its first-lien notes had been reduced to about $3.6 million.