Financial Data and Key Metrics - Q2 2024 total revenue was $60.4 million, down 4.8% year-over-year on an actual basis, but same-station revenue declined only 2% [4] - Digital revenue grew 10.2% year-over-year, now accounting for 21.5% of total revenue, up from 19.4% in Q2 2023 and 16.5% in Q2 2022 [4] - Adjusted EBITDA increased 11.4% to $8.8 million in Q2 2024 [8] - Operating expenses declined 3.9% or $2 million, including $1.3 million in severance costs [7][8] - Same-station SOI increased by $60,000 to $12.6 million, excluding severance costs [8] - Total debt at the end of Q2 was $267 million, down from $300 million at the beginning of 2021 [13] Business Line Performance - Digital revenue growth remains a priority, with digital SOI at $3.1 million and a margin of 24% for the quarter [16] - Political revenue for Q2 was $586,000, exceeding the budget by 72% and up significantly from $228,000 in Q2 2020 [5] - National revenue showed signs of stabilization, with same-station national revenue up 7.3% and actual national revenue up 6.4% year-over-year [6] - Local spot revenue declined 10.9% year-over-year, driven by a 3% decline in local agency business and a 4.9% decline in local direct [6] - Sports betting revenue was $3.1 million, accounting for 5.6% of total revenue, with growth in Boston and Charlotte offset by declines in Philadelphia [11] Market Performance - Six markets, including Augusta, Charlotte, Fayetteville, Fort Myers, New Jersey, and Tampa, exceeded prior year Q2 revenues [9] - The company holds the top-rated station in key markets such as Boston, Charlotte, Detroit, Las Vegas, and Philadelphia, with strong Nielsen Audio PPM ratings [18] Strategy and Industry Competition - The company is shifting its revenue mix toward digital, aiming for digital to account for 20%-25% of total revenue in 2024 [5] - A strategic plan focuses on revenue growth, leverage reduction, free cash flow, and addressing the capital structure ahead of the Q1 2026 debt maturity [19] - The company is streamlining traditional business operations, expanding digital revenue streams, and focusing on corporate expense management [19] - A $6.7 million expense reduction initiative in May 2024 is projected to save nearly $10 million annually, achieved through headcount reductions and operational consolidation [20] Management Commentary on Operating Environment and Outlook - Management noted continued softness in ad-reliant businesses, particularly in local markets, reflecting broader economic challenges [6] - The company expects a robust second half of 2024, driven by strong political spending and continued digital expansion [5][21] - Management remains optimistic about growth prospects, particularly in digital and political revenue streams [21] Other Important Information - The company closed its white-label agency, Guarantee Digital, transferring 75% of its revenue to the in-house agency Digital Direct, expected to increase the bottom line by $1 million [16] - The company exited its esports content initiative due to profitability concerns and a focus on reducing leverage [17] - A new head of digital content marketing was hired to support the growth of digital revenue streams [18] Q&A Session Question: Any discussions with creditors about the February 2026 bond maturity? - The company is laser-focused on addressing the Q1 2026 maturity and will provide more details in the near term [24] Question: Are there more assets that could be sold? - The company is open to selling assets at an attractive and deleveraging price [26] Question: Progress on the $10 million cost savings program? - The company realized $2 million in cost improvements in Q2, with the full benefit of the savings expected in future quarters [27]

Q 2 2 0 2 4 E A R N I N G S P R E S E N TAT I O N A U G U S T 2024 Forward-Looking Statements and Non- DisclaimerGAAP Financial Measures This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States ("GAAP"), including, without limitation, EBITDA, Station Operating Income ("SOI") (collectively, the "non-GAAP financial measures"). These non-GAAP financial measures are not measures of financial per ...

Beasley Broadcast Group (BBGI) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this radio broadcaster would post a loss of $0.14 per share when it actually produced break-even earnings, delivering a surprise of 100%.Over the last four quarters, the ...

Second Quarter Digital Revenue Grew 5.7% Year-over-year, and 10.4% on a Same Station Basis Net Loss Decreased by $10.2 Million and Adjusted EBITDA Grew 11.4% to $8.8 Million  Conference Call and WebcastToday, August 12, 2024 at 11:00 a.m. ET877-407-4018 or 201-689-8471, conference ID 13747961 or www.bbgi.com Replay information provided below   NAPLES, Fla., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today annou ...

Beasley Broadcast Group (BBGI) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q1 2024 Earnings Conference Call May 8, 2024 11:00 AM ET Company Participants Caroline Beasley - CEO Marie Tedesco - CFO Conference Call Participants Operator Good morning, and welcome to Beasley Broadcast Group First Quarter 2024 Earnings Call. Before proceeding, I would like to emphasize that today's conference call and webcast will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties desc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________ FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-29253 BEASLEY BROADCAST GROUP, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 65-0960915 (State ...

Exhibit 99.1 | --- | --- | |-------|-----------------------------------------| | | | | | Replay information provided below | CONTACT: B. Caroline Beasley Jaffoni, Jennifer Neuman Chief Executive Officer Beasley Broadcast Group, Inc. 212/835-8500 or bbgi@jcir.com 239/263-5000 or ir@bbgi.com Joseph JCIR BEASLEY BROADCAST GROUP REPORTS FIRST QUARTER REVENUE OF $54.4 MILLION NAPLES, Florida, May 8, 2024 – Beasley Broadcast Group, Inc. (Nasdaq: BBGI) ("Beasley" or the "Company"), a multi-platform media company, ...

Beasley Broadcast Group (BBGI) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this radio broadcaster would post a loss of $0.07 per share when it actually produced a loss of $0.13, delivering a surprise of -85.71%.Over the last four quarters, the comp ...

NAPLES, Fla., May 01, 2024 (GLOBE NEWSWIRE) -- May 1, 2024 – Beasley Broadcast Group, Inc. (NASDAQ:BBGI) ("Beasley" or the "Company"), a multi-platform media company, announced today that it will report its 2024 first quarter financial results before the market opens on Wednesday, May 8, 2024. The Company will host a conference call and webcast at 11:00 a.m. ET that morning to review the results. To access the conference call, interested parties may dial 877-407-4018 or 201-689-8471, conference ID 13746158 ...