Beasley Q2 Revenue Falls, Adjusted EBITDA Rises

RADIO ONLINE | Wednesday, August 12, 2026 | 3:47pm CT

Beasley Broadcast Group

Beasley Broadcast Group reported second-quarter 2026 net revenue of $44.1 million, down from $53.0 million a year earlier, while Adjusted EBITDA increased to $5.3 million from $4.7 million.

On a same-station basis, revenue declined 9.6%, reflecting continued weakness in traditional national and local agency advertising. Beasley said the declines were partially offset by 7.1% same-station growth in digital revenue and stabilization in local direct spot advertising.

Digital revenue totaled $11.7 million, down 11.6% overall from the prior year but up 7.1% on a same-station basis. Digital accounted for 26% of total revenue and posted a 15.4% operating margin. Local revenue, including digital packages sold locally, represented 74% of net revenue and grew 9% year-over-year. New business accounted for 13% of revenue.

Operating expenses declined 13.2% from a year earlier as the company continued previously announced cost reductions. Beasley implemented approximately $10 million in additional annualized expense reductions during the quarter, bringing savings over the trailing 12 months to roughly $30 million.

Station Operating Income totaled $5.3 million, representing a 12.1% margin, while corporate expenses declined 37.3%. Adjusted EBITDA increased 12.2% to $5.3 million from $4.7 million in the second quarter of 2025.

Beasley reported GAAP net income of $84.3 million for the quarter, compared with a net loss of $154,000 a year earlier. The sharp increase was primarily the result of a $91.8 million non-cash gain related to the company's debt restructuring. The company completed a series of balance-sheet initiatives on May 1, including a second-lien restructuring, repurchase of a portion of its first-lien notes and establishment of a new asset-based lending facility. The transactions reduced total outstanding debt by $95 million, including a 46% reduction in second-lien debt. Beasley said the moves will also lower future cash interest expense.

"While second quarter results continued to reflect pressure across portions of the traditional advertising marketplace, we are encouraged by the progress we're making in transforming Beasley into a more diversified, higher-margin media company," said CEO Caroline Beasley. She said the company's digital and local direct spot businesses continue to gain momentum while its cost structure is "significantly more efficient than it was a year ago."

At June 30, Beasley reported $144.8 million in long-term debt, down from $235.3 million at the end of 2025. Cash and cash equivalents stood at $6.7 million.