JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
GROSSE POINTE FARMS, Mich. - Saga Communications, Inc. (NASDAQ:SGA) reported better-than-expected fourth quarter results, sending its shares up 3.3% in response on Tuesday.
The radio broadcasting company posted adjusted earnings per share of $0.20 for the quarter, surpassing analyst estimates of -$0.12. Revenue came in at $28.77 million, topping the consensus forecast of $28 million. However, net revenue decreased 1.3% YoY from $29.1 million in the same quarter last year.
Despite beating estimates, Saga’s quarterly performance showed some weakness compared to the prior year. Operating income fell to $984,000 from $2.8 million in Q4 2023. Station operating income, a non-GAAP measure, decreased 17.2% to $5.9 million.
"While we faced some headwinds, our team’s efforts allowed us to outperform expectations this quarter," said Warren Lada, President and CEO of Saga Communications. "We remain focused on operational efficiency and delivering value to our shareholders."
The company paid a quarterly dividend of $0.25 per share in December and an additional $0.25 per share in March 2025. Saga’s balance sheet reflected $27.8 million in cash and short-term investments as of December 31, 2024.
For the full year 2024, Saga reported net revenue of $110.3 million, down 2.2% YoY. Net income for the year was $3.5 million, or $0.55 per diluted share, compared to $9.5 million in 2023.
Looking ahead, Saga expects capital expenditures of $4.0 - $4.5 million in 2025. The company plans to continue paying regular quarterly cash dividends.
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