Beasley Q4 net loss $25.8M from $44.2M non-cash impairment; revenue up 1.8% to $72M

BEASLEY BROADCAST GROUP INC

2022-FY EPS reported -$1.43 revenue$256,381,018

Q4 net revenue $72.0M (+1.8% YoY); operating loss $33.5M vs $6.5M income in Q4 2021 due to $44.2M impairment.
Net loss $25.8M ($0.87 diluted EPS) vs net income $10.6M ($0.36 diluted EPS) in Q4 2021.
Full year net revenue $256.4M (+6.2%); net loss $43.4M ($1.47 diluted EPS) including $54.7M impairment.
Digital revenue up 13.2% YoY to ~17% of Q4 revenue; political revenue $5.1M in Q4.
Total debt $290M; cash $39.5M; impairment charges preliminary and subject to change.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BEASLEY BROADCAST GROUP INC reported the fiscal quarter ended December 31, 2022 results: revenue $72.0 million, net income $25.8 million, EPS $0.87 per diluted share.

Period: the fiscal quarter ended December 31, 2022
Revenue: $72.0 million
Net income: $25.8 million
EPS: $0.87 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 FOURTH QUARTER REVENUE INCREASES TO $72.0 MILLION Fourth Quarter Operating Loss of $33.5 Million Inclusive of $44.2 Million Non-cash Impairment Losses NAPLES, Florida, February 16, 2023 – Beasley Broadcast Group, Inc. (Nasdaq:

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BEASLEY BROADCAST GROUP INC reported the twelve months ended December 31, 2022 results: revenue $256.4 million, net income $43.4 million, EPS $1.47 per diluted share.

Period: the twelve months ended December 31, 2022
Revenue: $256.4 million
Net income: $43.4 million
EPS: $1.47 per diluted share
Result: reported results

Exact text from the filing

as we generated healthy growth across all of our digital, local audio, political and other revenue sources, as reflected by the 6.2% increase in full year net revenues to $256 million. This top-line growth was the primary factor contributing to a 2.8% year-over-year increase in full year SOI to $43.1 million. “While economic uncertainty remains, Beasley

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Source: SEC EDGAR

accession 0001193125-23-041061

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