Saga Communications, Inc. Reports 1st Quarter 2025 Results

Core Viewpoint - Saga Communications, Inc. reported a net revenue decrease of 4.3% to $24.2 million for Q1 2025 compared to $25.3 million in Q1 2024, with an operating loss of $2.3 million, slightly improved from a loss of $2.4 million in the previous year [1][2]. Financial Performance - Net revenue for the same-station basis decreased by 6.6% to $23.6 million, while station operating expenses decreased by 5.0% to $21.3 million [2]. - The company experienced a net loss of $1.6 million for the quarter, consistent with the same period last year, and diluted loss per share was $0.25 [1][14]. Capital Expenditures and Dividends - Capital expenditures for the quarter were $700 thousand, down from $1.1 million in the same period last year [1]. - The company paid a quarterly dividend of $0.25 per share, totaling approximately $1.6 million, and has paid over $137 million in dividends since 2012 [5]. Balance Sheet and Cash Flow - As of March 31, 2025, the company had $27.0 million in cash and short-term investments, which increased to $27.2 million by May 5, 2025 [6]. - The company expects to spend approximately $4.0 to $4.5 million on capital expenditures during 2025 [6]. Future Outlook - Revenue pacing for Q2 2025 remains uncertain but shows improvement, with April down high single digits, May down low single digits, and June approximately flat compared to the same period last year [3]. - The company anticipates additional legal and proxy contest expenses in the second quarter due to a potential proxy contest initiated by a shareholder [4].