Saga Communications Q1 net loss of $1.6M; revenue down 2.5% to $24.7M

SAGA COMMUNICATIONS INC

2024-Q1 EPS reported -$0.25 revenue$25,294,000

Net loss of $1.6M ($0.25 diluted loss per share) vs. net income of $920k in Q1 2023.
Operating loss of $2.4M vs. operating income of $905k; includes $971k non-cash write-off.
Station operating income (non-GAAP) decreased 40.9% to $2.8M.
Paid quarterly dividend of $0.25/share on March 8 and variable dividend of $0.60/share on April 5.
Cash and short-term investments $28.8M as of March 31; capex guidance $5.0–5.5M for 2024.

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 quarter ended March 31, 2024 results: revenue $24.7 million, net income net loss of $1.6 million, EPS $0.25.

Period: quarter ended March 31, 2024
Revenue: $24.7 million
Net income: net loss of $1.6 million
EPS: $0.25
Result: reported results

Exact text from the filing

net revenue decreased 2.5% to $24.7 million for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001558370-24-007480

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