Quarterly ResultMay 7, 2026, 09:01 AM
Saga Communications Q1 Net Revenue Down 5.6% to $22.9M; Net Loss $2.4M
AI Summary
Saga Communications reported a challenging first quarter for 2026, with net revenue decreasing 5.6% to $22.9 million compared to the prior year. The company posted an an operating loss of $3.3 million and a net loss of $2.4 million, resulting in a diluted loss per share of $0.38. Despite the losses, Saga declared a quarterly dividend of $0.25 per share and maintains a strong cash position of $30.4 million.
Key Highlights
- Net revenue decreased 5.6% to $22.9 million for Q1 2026.
- Reported an operating loss of $3.3 million, up from $2.3 million last year.
- Net loss increased to $2.4 million from $1.6 million in Q1 2025.
- Diluted loss per share was $0.38 for Q1 2026, compared to $0.25 last year.
- Station operating income (non-GAAP) decreased 62.0% to $0.9 million.
- Declared a quarterly dividend of $0.25 per share, payable June 12, 2026.
- Cash and short-term investments stood at $30.4 million as of March 31, 2026.
- Anticipates approximately $3.5 million in capital expenditures for 2026.