Saga Q1 net income falls to $920K; revenue up 1.3% to $25.3M

SAGA COMMUNICATIONS INC

2023-Q1 EPS reported $0.15 revenue$25,912,000

Net revenue $25.3M, up 1.3% YoY; net income $920K vs $1.2M prior year.
Diluted EPS $0.15; operating income $905K vs $1.7M; free cash flow $1.1M vs $1.9M.
Station operating expense rose $1.1M to $21.7M, driven by $446K higher compensation and $272K health care costs.
Quarterly dividend of $0.25 per share paid April 7; cumulative dividends since 2012 exceed $108M.
Cash and short-term investments $37.5M at March 31; 2023 capex guidance $5.0-5.5M.

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 0.95

SAGA COMMUNICATIONS INC reported the three months ended March 31, 2023 results: revenue $25.3 million, net income $920 thousand, EPS $0.15.

Period: the three months ended March 31, 2023
Revenue: $25.3 million
Net income: $920 thousand
EPS: $0.15
Result: reported results

Exact text from the filing

Saga Communications, Inc. (Nasdaq - SGA) (the “Company” or “Saga”) today reported that net revenue increased 1.3% to $25.3 million for the quarter ended March 31, 2023 compared to $25.0 million for the same period last year.

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Source: SEC EDGAR

accession 0001558370-23-007749

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