Saga Q3 net loss of $104K on $3.8M founder-related charge; adjusted EPS $0.62

SAGA COMMUNICATIONS INC

2022-Q3 EPS reported $0.82 revenue$84,768,000

Net revenue up 3.9% to $30.0M; station operating income up 4.1% to $8.9M.
Operating income $1.1M vs $4.6M; includes $3.8M accrual for payments to founder Ed Christian's estate.
GAAP net loss of $104K ($0.01 diluted EPS) vs net income $3.5M ($0.58) a year ago.
Excluding the accrual, operating income would have risen 5.8% to $4.9M; adjusted EPS $0.62.
Cash & short-term investments $58.3M; paid $0.25 quarterly + $2.00 special dividend on Oct 21.

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

SAGA COMMUNICATIONS INC reported three and nine months ended September 30, 2022 results: revenue $30.0 million, net income net loss of $104 thousand, EPS $(0.01).

Period: three and nine months ended September 30, 2022
Revenue: $30.0 million
Net income: net loss of $104 thousand
EPS: $(0.01)
Result: reported results

Exact text from the filing

Ed Christian. The actual results as well as the results adjusted for the impact of his passing are reported in this financial results release. Net revenue increased 3.9% to $30.0 million for the quarter ended September 30, 2022 compared to $28.8 million for the same period last year. Station operating expense increased 2.8% for the quarter to $22.3 million

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Source: SEC EDGAR

accession 0001558370-22-016164

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