Beasley Q1 revenue down 5.9% to $54.4M; net income tiny as $6M gain offsets operating loss

BEASLEY BROADCAST GROUP INC

2024-Q1 EPS reported $0.00 revenue$54,380,346

Q1 revenue $54.4M, down 5.9% YoY from $57.8M, due to audio advertising softness and divestitures.
Operating loss of $1.1M vs operating income of $0.4M in prior year.
Net income ~$8k ($0.00/diluted) vs net loss of $3.5M (-$0.12); includes $6.0M gain on BMI sale.
Adjusted EBITDA fell to $0.7M from $2.6M year-over-year.
Digital revenue grew 10% YoY to $11M (20% of total); 2024 guidance for digital at 20–25% of total.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BEASLEY BROADCAST GROUP INC reported the three-month period ended March 31, 2024 results: revenue $54.4 million, net income $0.00 per diluted share.

Period: the three-month period ended March 31, 2024
Revenue: $54.4 million
Net income: $0.00 per diluted share
Result: reported results

Exact text from the filing

Chief Executive Officer JCIR Beasley Broadcast Group, Inc. 212/835-8500 or bbgi@jcir.com 239/263-5000 or ir@bbgi.com BEASLEY BROADCAST GROUP REPORTS FIRST QUARTER REVENUE OF $54.4 MILLION NAPLES, Florida, May 8, 2024 – Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today announced operating results for

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Source: SEC EDGAR

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