SGA

GROSSE POINTE FARMS, Mich., Sept. 10, 2026 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company”, “Saga” or “our”) today announced that its Board of Directors (“Board”) declared a quarterly cash dividend of $0.25 per share. The dividend will be paid on October 16, 2026, to shareholders of record on September 23, 2026. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.6 million. The quarterly dividend will be funded by cash on the Company’s balance sheet. Including this dividend, the Company will have paid over $146 million in dividends to shareholders since the first special dividend was paid in 2012. The Company currently intends to declare regular quarterly cash dividends in the future. The declaration and payment of any future dividend, whether fixed, special, or based on the variable policy, or the implementation of any stock buyback program will remain at the full discretion of the Board and will depend on the Company’s financial results, cash requirements, future expectations, and other pertinent factors. Saga is a media company whose business is devoted to acquiring, developing and operating broadcast properties with a focus on providing opportunities complimentary to our core radio business including digital, e-commerce, local on-line news services and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM and 28 AM radio stations and 78 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com. This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement. Contact: Samuel D. Bush (313) 886-7070

Image source: The Motley Fool. Thursday, Aug. 13, 2026 at 11:00 a.m. ET President and Chief Executive Officer - Christopher Forgy Senior Vice President and Chief Financial Officer - Samuel D. Bush Operator: Good day, everyone, and welcome to the Saga Communications Second Quarter Earnings Release and Conference Call. [Operator Instructions] It is now my pleasure to hand the floor over to your host, Chris Forgy, President and CEO of Saga. Sir, the floor is yours. Christopher Forgy: Thank you, Matthew. And once again, thank you to everyone who has taken the time to join Saga Communications 2026 Q2 Earnings Call. We appreciate your continued support, your interest and your participation in Saga Communications, Inc., what we believe is the best media company on the planet. Before my remarks, I'm going to surrender the floor to Sam, but only for a moment, Sam, so don't get comfortable. And then I'll be back with my comments shortly thereafter. Sam? Samuel D. Bush: Thank you, Chris. This call will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties that are described in the Risk Factors section of our most recent Form 10-K and 10-Qs. This call will also contain a discussion of certain non-GAAP financial measures. Reconciliation for all the non-GAAP financial measures to the most directly comparable GAAP measure are included in the selected financial data tables. For the quarter ended June 30, 2026, net revenue decreased $1.8 million or 6.5% to $26.4 million compared to $28.2 million last year. Station operating expense increased $1.2 million or 5.4% for the quarter or 3.9% excluding the noncash rent expense. We incurred the noncash rent expense as a result of the tower sale we previously -- we have discussed on previous calls. I will add more detail in a few minutes as well as talk more about station operating expenses in general as we continue to make progress on our digital initiatives. It is important to note that even with the revenue challenges we are facing and the added expenses that we are incurring with our ongoing digital transformation, we reported station operating income for the quarter of $3 million and operating income of $623,000. While this is not where we want it to be, it is a part of the challenge as Chris says, of remodeling the house while we are still living in it. Chris will add more color to various revenue line items, both traditional and digital in his comments. For the 6-month period ended June 30, 2026, net revenue decreased $3.2 million or 6% to $49.3 million. Station operating expense increased $1.3 million or 2.8% for the 6 months or 1.9%, excluding the noncash tower rent expense. Gross political revenue for the second quarter this year was $450,000 compared to $50,000 for the same period last year and $725,000 compared to $321,000 for the 6-month period ended June 30. For the remainder of the year, we currently have another $1.1 million in gross political revenue sold. This compares to gross political revenue of $650,000 for the total year in 2025 and $3.3 million for the total year in 2024. In addition to the noncash tower rent expense mentioned above, station operating expenses were also impacted by our sales manager digital campaign manager and related digital fulfillment team hiring initiatives. During the second quarter, we hired 9 sales managers we hired sales managers in 9 of our markets, increasing station operating expense by approximately $146,000 for the quarter and 6-month period. We also continued our hiring of digital campaign managers and related fulfillment team members in the second quarter, which added $211,000 to station operating expenses and $290,000 for the 6-month period. Operating income also reflects an impact from the tower sale as we transferred leases on the towers we sold. These leases were generating approximately $200,000 in revenue per quarter as we've previously reported. We expect our station operating expense to increase 1.5% to 2.5% for the year when including the added expenses that we are taking on to build out the infrastructure related to our digital transformation and the noncash tower rental expense. Our corporate general and administrative expense was down 13% or $398,000 for the quarter and 9.4% or $589,000 for the 6-month period. We expect that our corporate general and administrative expense to be approximately $11.8 million to $12 million for 2026 compared with $12.3 million last year. As stated in our year-end filings, the company closed on the sale of telecommunications towers and related property on October 17, 2025. The purchase agreement and related lease documents were amended during the second quarter of this year to align the previously executed documents with the intended economic substance of the transaction. The structure of the transaction allowed us to be able to defer taxes related to the gain on the $5.4 million noncash proceeds from the sale over the 25-year term of lease agreements. We are reporting in our financial statements a noncash tower rent expense and noncash interest income. The press release, our forthcoming 10-Q, which will be filed tomorrow and my previous comments as well as our previous public disclosures give a more detailed explanation of this complex transaction. The key takeaway is that we were able to monetize a number of our towers, maintain the ability to use those same towers for our ongoing operations and not incur any cash tower rent. Unlike other tower sale transactions that have been in the industry, we did not leverage the future tower rent expenses that might have been incurred to obtain the increased liquidity that the tower sale afforded us. The company paid a quarterly dividend of $0.25 per share on June 12, 2026. The aggregate value of the quarterly dividend was approximately $1.6 million. With the most recent declared dividend, Saga will have paid over $145 million in dividends to shareholders since the first special dividend was paid in 2012. The company's balance sheet reflected $27.8 million in cash and short-term investments as of June 30, 2026, and $22.9 million as of August 10, 2026. The reduction in cash and short-term investments was primarily due to the repayment in full of the $5 million we had outstanding under our revolving credit agreement. After repayment of the $5 million and after evaluating our cash position, short-term investments, expected operating cash flows and anticipated liquidity needs, we terminated our existing credit agreement as it would have given us less flexibility to use our cash in short-term investments relative to paying dividends, share repurchases, investments in our digital initiatives, capital expenditures or other strategic opportunities. We will put a new agreement in place when it makes sense as we continue with our transformation. For the quarter ended June 30, 2026, the company recorded capital expenditures of $1.3 million, which was comparable to the same period last year. For the 6-month period, capital expenditures were $2 million, which was also comparable to the same period last year. The company expects to spend approximately $3 million to $3.5 million in capital expenditures during 2026. In addition to the tower sale, which generated $10.5 million in cash, we've also stated that we've been working to evaluate our noncore assets with the intent of monetizing those assets at a value that is higher than is recognized in Saga's stock price. This allows us from a cash perspective to offset the cash spent on some, if not all, the capital expenses and operational expenses increases required to operate our core business as well as invest in our digital transformation. Since the fourth quarter of last year, we have sold or are selling, including a scheduled closing tomorrow on a property in South Carolina, 6 noncore properties for proceeds of over $4 million. This includes Saga's former Sarasota House, which sold for $1.7 million and an unused tower site in Portland, Maine for $1 million. Revenue for the third quarter is pacing down mid-single digits with digital up mid- to high single digits. Without political, we are pacing down mid- to high single digits. With the addition of the sales managers we have hired, we expect to see an increased productivity in both our traditional and digital revenue efforts. From a monthly perspective, we have begun to see some improvement. With and without political gross revenue for July and August, we were down high single digits in pacing, while September was up single -- low single digits gross and down low single digits without political. October was up mid-single digits gross and down low single digits without political. Again, this shows some improvement as we move through the third quarter and begin to move into the fourth quarter. The sales manager and digital campaign managers and related fulfillment team hiring initiatives will allow our media advisers to have more direct hands-on involvement with the sales resources they need to increase their levels of productivity, while the digital campaign managers and related fulfillment team initiative will allow them to spend more time calling on existing and potential clients to solicit new business as they now have the assistance they need to help build the unique blended campaigns that are required to grow our digital business and mitigate the decline in radio ad spend. It also allows us to have the talent to monitor the performance of the blended campaigns, which will allow us to retain a higher percentage of return blended clients. All said, we believe Saga is in a strong financial position to improve profitability as our digital initiative improves both local radio and digital revenue. And with Chris, I'll turn it back over to you. Christopher Forgy: Thank you, Sam. As you've heard Sam say, we are, as the industry is facing headwinds. Traditional advertising verticals are experiencing real challenges, not so much from an audience consumption standpoint, but more from a monetization standpoint. For Saga, our traditional verticals, local, national and nontraditional revenue are all experiencing double-digit decline year-over-year and for the quarter ending June 2026. Year-over-year, local revenue was down 11% year-to-date and was down 11.2% for the quarter. National revenue was down 19.5% year-to-date and was down 25% for the quarter. Nontraditional revenue was down 12.9% year-to-date and was down 16.4% for the quarter. Conversely, Saga's blended digital strategy, you've heard so much about and that our teams have been building for the last 3 years and includes search, display, SEO, social, managed e-mail and OTT and CTV was up year-over-year, 76.4% for the 6 months ending June 2026, and blended was up 60.8% for the quarter year-over-year. E-commerce was up 15.2% year-to-date and was up 10.7% for the quarter. For the 6 months ending June 30, 2026, digital as a percentage of gross revenue was 19% compared to 14% during the same period in 2025. Year-over-year, all other digital revenue was down 8.4% year-to-date and was down 9.6% for the quarter. 3-plus years ago, Saga's mission was to build a digital platform that honored and grew our traditional core competency, which is radio. It was to provide people, products and processes necessary to compete in a very crowded, competitive and profitable digital space, one that Saga, by the way, as I've said many times, at least 12 years late to the party on. We set out to create a practical digital platform that was easy to understand, easy to buy, easy to execute, easy to measure, easy to renew and always focused on the journey a consumer takes when they interact with a product or service and deliver it with clarity, simplicity, transparency and speed to market. And as Sam said earlier on this call, and I have said many times before, we're still remodeling a house while we're still living in the house. Along the way on this renovation project, we've had to relocate a few walls here and there and had to change out a framing crew or 2. We've improved our supply chains and even upgraded our remodeling products we use. And during all this process, one thing has remained constant, the foundation. foundation is strong, stable and steadfast and that commitment to the customer to get them wanted, found and chosen more often and do it with what we do best, radio. That foundation is strong and is here to withstand the strongest of storms. So more specifically, here's what Saga has been up to since our last earnings call. In the area of getting customers found, we brought all of our search tools in-house and have 3 full-time search specialists who procure, implement and optimize all of Saga's search campaigns. In the area of getting customers chosen, we've hired and trained 10 digital campaign managers and hired 9 directors of sales spread over 9 specific Saga markets who are in need of one. We then partnered with Marketron NXT for all of Saga's other digital fulfillment products other than search. Marketron is already Saga's solution for radio traffic and billing and has a much improved and robust digital fulfillment solution. So the migration was natural for Saga to move our digital fulfillment directly to NXT. This migration provides consistency, better preparation and speed to market for our leaders, our digital campaign managers and our media advisers. Saga is also pleased to announce it has forged a partnership with Borrell Associates. Gordon Borrell and his team are now working with our leadership and sales teams to give us more visibility into the markets in which we operate. Questions will be asked like where is the available money? How much money are clients currently spending? And why are they spending it where they're spending it? What is our share of the spend? How do we get more of it? And how do we acquire, retain, grow the revenue in the categories of business that are buying most. We will accomplish this by maximizing available programmatic revenue, growing Saga's share of available revenue spend in video by expanding our offerings to reflect multi-sources of opportunistic revenue by focusing on our share of market and not dollar volume, by growing our share of specific categories of business and thus share of wallet and by effectively executing a surgical light sales strategy. In essence, the Borrell partnership provides Saga with data, market and advertiser visibility, all pointing us towards a North Compass to allow our customers to better compete and allow Saga to complete the journey of the consumer. We've also promoted Paul O'Malley, Saga's former President and GM of Charleston, South Carolina cluster to the position of Senior Vice President of Revenue Development. Paul's focus will be on traditional, nontraditional and digital revenue. During Paul's time in Charleston, he was instrumental in Charleston's success in Saga's blended digital strategy, and we're excited to have him in this position. We've also solicited the talents and minds of our Saga extremely gifted talented leaders and employees. One team member developed and introduced an AI lead gen solution that Saga is using today to help our media groups as well as our digital solutions get wanted, found and chosen more often. Another Saga team member also using AI created both a search calculator and a proposal writing solution that allows Saga's media advisers to create customer-focused proposals complete with a problem to solve and a solution in virtually 1/2 of the time it previously took to create the very same proposal, again, speed to market. All these pivots, along with the migration of other third-party solutions to be in-house make Saga, its leaders and its media advisers more efficient, more effective, fast and profitable. So we've talked about creating a media environment conducive to the success of getting our customers wanted, found and chosen -- more often. Thus far, we've covered getting found and chosen, but we haven't discussed getting wanted. I really saved the best for last in this category for a good reason. This is the why those of us who are in this crazy business wake up and do what we do every day. This falls into the category of getting our customers wanted. In other words, that's top of funnel, that's traditional media and more specifically, that's radio. And from my vantage point, I'm really seeing a growing migration or a return to traditional media and more specifically to radio. Advertisers seem to be seeking simplicity, clarity, transparency, familiarity and a connection to the community. That's what advertisers are wanting more and more of, and that's what radio delivers, particularly in our Saga markets. On that note, I'd like to share some very exciting news with you today. Saga radio stations have been very active in their respective communities and in the industry and in the industry. Over the first half of 2026, in the spring, WYMG-FM in Springfield, Illinois won the coveted NAB Service to America Award. In Ocala, WOGK-FM was recognized as the favorite radio station and midday personality, Lewis Stokes was recognized as the favorite on-air personality in the Greater Gainesville-Ocala area in Florida. And we've seen a lot of this type of recognition across all of Saga's footprint and continue to see it. Also, Saga recently enjoyed 4 [ count them ] 4 nominations for the 2027 Marconi Awards. First, we had Milwaukee, Wisconsin's [ WHQG-FM ], The Hog was nominated for Large Market Station of the Year. Portland Maine, Blake Show with Kelly and Todd were nominated for Medium Market Personality of the Year and WPOR in Portland was also nominated for Medium Market Station of the Year. In Jonesboro, Arkansas, the Stafford and Frigo show, on KDXY-FM104.9 The Fox was nominated for Small Market Personalities of the Year. Also, during the first half of 2026, Saga Markets raised nearly $4 million in their local communities for their communities. Now that is giving back and connecting with our local communities. Finally, in this just past week, the University of Florida College of Journalism and Communication and Saga Communications announced a landmark 7-year joint sales partnership. This sales agreement expands Saga's broadcast footprint in the Ocala Gainesville, Florida market. The new lineup of stations consists of WOGK-FM, WRUF-AM and FM and WIND-FM as well as the University of Florida Gators Sports Network. This joint sales agreement extends beyond traditional sales representation by creating opportunities for advertisers, for students, for faculty and industry professionals to work together on initiatives and strategic partnerships involving the broadcast facilities themselves as well as broadcast media sales, digital media, audience development, sports media, content strategy, internships, mentorships and industry events and a number of other areas that prepare students for careers in the evolving media landscape. In other words, this strategic and accretive sales partnership, along with everything else discussed today, really reflects Saga's commitment to investing in both our present and in our future by working with outstanding hyperlocal media properties as well as investing in our next generation of media professionals. And if the passion, excitement and commitment for traditional media and the desire for learning and growth that exists with the nearly 3,000 students in the University of Florida School of Journalism and Communication is any indication. Radio and traditional media, though it may be facing some headwinds today, looks really very bright for tomorrow. So the processes have been refined, streamlined and people are set. The training is larger and the larger investment in infrastructure is in place. Our radio foundation is solid. All that is left to do is to execute and monetize what we built. It's about execution and monetization of what we built. Thank you again for your time and your interest and support of Saga Communications, what we believe is the best media company on the planet. Sam, do we have any questions? Samuel D. Bush: We did get a few questions in, Chris, most of which I think we've talked about. There was questions about current pacings, and I believe I gave a pretty full disclosure on that for Q3 and then actually into the early portion of Q4. Thoughts on political. I reported the numbers we have so far, including what we have booked through the rest of the year. But I do think based on the number of calls we're getting from markets relative to all the things that go with political lowest unit rates, filing in the [ FCC ] online public files, things like that, that we're seeing a lot of prospective political dollars that have not been booked yet. So I'm encouraged that we'll see an increase in political dollars as we get closer to the actual elections as opposed to the primaries and so forth. Then I think the biggest question, there were some other questions about digital, which you have talked about already relative to the prospects for growth in digital and where we are with digital. But then I think you just helped to emphasize that one of the questions came in, does the company feel that it has the right feature sets to be successful in digital? Or are there additional products and services that need to be invested into? Christopher Forgy: Well, as I stated, most of the major investments have been made. We're already real strong in search and display, as referenced in my statement about the growth of the blend, which primarily deals with search and display and radio. And we will adjust and add to our digital offerings as this ever-changing digital landscape continues to change, and it will. But it's always going to be based on what the customer needs to compete and to better compete in a competitive marketplace, whether it's with social media, video, display and much of the other things I spoke about, we'll make those shifts as the clients' needs are dictated or dictate. We will shift and expand as the market does and make no mistake, it will shift. Samuel D. Bush: I think that's good. And with that, I don't think we have any other questions. So Matthew, I think you can go ahead and wrap up the call. Operator: Thank you. Everyone, this concludes today's event. You may disconnect at this time, and have a wonderful day. Thank you for your participation. 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This article first appeared on GuruFocus. Net Revenue: Decreased $1.8 million, or 6.5%, to $26.4 million for Q2 2026, compared to $28.2 million in the prior year period. Six-Month Net Revenue: Decreased $3.2 million, or 6%, to $49.3 million for the six months ended June 30, 2026. Station Operating Expense: Increased $1.2 million, or 5.4%, for the quarter, or 3.9% excluding non-cash rent expense. Station Operating Income: Reported at $3 million for the quarter. Operating Income: Reported at $623,000 for the quarter. Gross Political Revenue: $450,000 for Q2 2026, compared to $50,000 in the prior year period; $725,000 for the six-month period, compared to $321,000 last year. Corporate G&A Expense: Decreased 13%, or $398,000, for the quarter and 9.4%, or $589,000, for the six-month period. Cash and Short-Term Investments: $27.8 million as of June 30, 2026, and $22.9 million as of August 10, 2026. Capital Expenditures: $1.3 million for Q2 2026 and $2 million for the six-month period, both comparable to the prior year. Local Revenue: Down 11.2% for the quarter and 11% year-to-date. National Revenue: Down 25% for the quarter and 19.5% year-to-date. Non-Traditional Revenue: Down 16.4% for the quarter and 12.9% year-to-date. Blended Digital Revenue: Up 60.8% for the quarter and 76.4% year-to-date. E-commerce Revenue: Up 10.7% for the quarter and 15.2% year-to-date. Digital as Percentage of Gross Revenue: 19% for the six months ending June 30, 2026, compared to 14% in the prior year period. All Other Digital Revenue: Down 9.6% for the quarter and 8.4% year-to-date. Warning! GuruFocus has detected 5 Warning Signs with SGA. Is SGA fairly valued? Test your thesis with our free DCF calculator. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Blended digital revenue surged 76.4% year-to-date and 60.8% in Q2, with digital now representing 19% of gross revenue. Strategic investments in digital infrastructure, including in-house search specialists and digital campaign managers, are enhancing operational efficiency and speed to market. Political revenue is showing strong growth, with Q2 gross political revenue up to $450,000 from $50,000 year-over-year, and an additional $1.1 million booked for the remainder of 2026. The company maintains a strong balance sheet with $27.8 million in cash and short-term investments, and has repaid its $5 million revolving credit facility in full. Saga has successfully monetized non-core assets, generating over $4 million from six property sales, and has formed strategic partnerships, including a landmark seven-year joint sales agreement with the University of Florida. The company's radio stations have received industry recognition, including four Marconi Award nominations and a NAB Service to America Award, highlighting strong community engagement and brand strength. Net revenue decreased 6.5% in Q2 and 6% for the six-month period, driven by double-digit declines in traditional advertising verticals. Station operating expenses increased 5.4% in Q2, partly due to non-cash tower rent expense and hiring initiatives, pressuring profitability. Traditional revenue streams are under pressure, with local revenue down 11.2%, national down 25%, and non-traditional down 16.4% in Q2. The company faces ongoing challenges from the 'remodeling the house' phase, with operating income of only $623,000 in Q2, reflecting the impact of transformation costs. Third-quarter revenue is pacing down mid-single digits, and without political, down mid-to-high single digits, indicating continued softness in core advertising. The termination of the credit agreement may limit financial flexibility for future strategic opportunities, though the company plans to renegotiate when appropriate. Q: What is the company's outlook for political revenue for the remainder of 2026, and how does it compare to prior years? A: Samuel Bush (CFO): We have $1.1 million in gross political revenue booked for the remainder of the year, compared to $650,000 for all of 2025 and $3.3 million for 2024. We are encouraged by the volume of calls regarding political advertising (e.g., lowest unit rates, FCC filings) and expect to see an increase in political dollars as we get closer to the general election, as opposed to the primaries. Q: Does the company feel it has the right feature sets to be successful in digital, or are there additional products and services that need to be invested in? A: Christopher Forgy (CEO): Most of the major investments have been made. We are already strong in search and display, which are the primary drivers of our blended digital growth. We will continue to adjust and add to our digital offerings as the landscape evolves, always basing decisions on what customers need to compete in their markets. We will shift and expand as the market dictates. Q: Can you provide more detail on the company's digital revenue performance and its contribution to overall results? A: Christopher Forgy (CEO): Our blended digital strategy (search, display, SEO, social, managed email, OTT/CTV) was up 76.4% year-over-year for the six months ending June 30, 2026, and up 60.8% for the quarter. E-commerce was up 15.2% year-to-date. Digital as a percentage of gross revenue reached 19% for the first half of 2026, up from 14% in the same period of 2025. This growth is helping to mitigate the decline in traditional radio ad spend. Q: What is the company's current revenue pacing, and what are the expectations for the third quarter? A: Samuel Bush (CFO): Revenue for the third quarter is pacing down mid-single digits, with digital up mid to high single digits. Excluding political, we are pacing down mid to high single digits. We are seeing monthly improvement, with July and August down high single digits, while September is pacing up low single digits gross and down low single digits without political. October is pacing up mid-single digits gross and down low single digits without political. Q: What is driving the increase in station operating expenses, and what is the expected impact for the full year? A: Samuel Bush (CFO): Station operating expense increased 5.4% in Q2, or 3.9% excluding non-cash rent expense from the tower sale. The increase is primarily due to hiring initiatives, including nine new sales managers ($146,000 in Q2) and digital campaign managers and fulfillment team members ($211,000 in Q2). We expect station operating expense to increase 1.5% to 2.5% for the full year, including these investments and the non-cash tower rent expense. Q: Can you elaborate on the company's recent partnership with the University of Florida and its significance? A: Christopher Forgy (CEO): We announced a landmark seven-year joint sales partnership with the University of Florida College of Journalism and Communications. This expands our broadcast footprint in the Ocala-Gainesville market with stations like WOGK-FM, WRUF-AM/FM, and WIND-FM, as well as the Gators Radio Network. The partnership extends beyond sales to include opportunities for advertisers, students, and faculty in areas like digital media, sports media, and internships, reflecting our commitment to investing in the future of media. Q: What is the company's strategy regarding its balance sheet and credit facility? A: Samuel Bush (CFO): We repaid the $5 million outstanding under our revolving credit agreement and subsequently terminated the credit agreement to have more flexibility in using our cash for dividends, share repurchases, and investments in digital initiatives. We had $27.8 million in cash and short-term investments as of June 30, 2026. We will put a new agreement in place when it makes sense as we continue our transformation. Q: How is the company addressing the decline in traditional revenue verticals? A: Christopher Forgy (CEO): Traditional verticals are facing real challenges. Local revenue was down 11.2% for the quarter, national down 25%, and non-traditional down 16.4%. To counter this, we are investing heavily in our digital transformation, hiring sales managers and digital campaign managers, and partnering with Borrell & Associates for market data and visibility. We are also bringing search tools in-house and migrating digital fulfillment to Marketron NXT to improve efficiency and speed to market. Q: What is the company's progress on monetizing non-core assets? A: Samuel Bush (CFO): Since the fourth quarter of last year, we have sold or are selling six non-core properties for proceeds of over $4 million, including the former Sarasota house for $1.7 million and an unused tower site in Portland, Maine, for $1 million. This allows us to offset cash spent on capital and operational expenses while investing in our digital transformation. Q: Can you provide an update on the company's capital expenditure plans for 2026? A: Samuel Bush (CFO): We recorded capital expenditures of $1.3 million in Q2 and $2 million for the first half of the year, comparable to last year. We expect to spend approximately $3 million to $3.5 million in capital expenditures during 2026. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Saga Communications, Inc.? Here are five stocks we like better. Second-quarter results weakened: Revenue fell 6.5% year over year to $26.4 million, while station operating expenses rose 5.4%, pressuring operating income to $623,000. Local, national and non-traditional advertising all declined by double digits. Digital growth remained strong: Blended digital revenue increased 60.8% in the quarter, lifting digital’s share of first-half gross revenue to 19% from 14% a year earlier. Saga is continuing to invest in sales staff, digital campaign managers and related infrastructure despite near-term revenue pressure. Liquidity and outlook showed mixed signals: Political revenue improved substantially, reaching $450,000 in the quarter, with another $1.1 million already sold for the remainder of 2026. However, third-quarter revenue was pacing down in the mid-single digits, while the company reduced cash after repaying its $5 million credit-line balance and continued paying dividends and selling non-core properties. Saga Communications (NASDAQ:SGA) reported lower second-quarter revenue and operating income as declines in traditional advertising categories outweighed continued growth in its blended digital business. For the quarter ended June 30, 2026, net revenue fell $1.8 million, or 6.5%, to $26.4 million from $28.2 million a year earlier, according to Executive Vice President, CFO and Treasurer Sam Bush. Station operating income was $3 million, while operating income was $623,000. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Station operating expenses increased $1.2 million, or 5.4%, during the quarter. Excluding non-cash tower rent expense related to the company’s prior tower sale, expenses rose 3.9%. Bush said the company is continuing to invest in staffing and infrastructure to support its digital transformation despite current revenue pressure. President and CEO Chris Forgy said Saga’s traditional advertising categories faced “real challenges” in monetization, even as he said audience consumption remained intact. Local, national and non-traditional revenue all posted double-digit year-over-year declines in the second quarter. Local revenue declined 11.2% in the quarter and 11% year to date. National revenue fell 25% in the quarter and 19.5% year to date. Non-traditional revenue decreased 16.4% in the quarter and 12.9% year to date. → Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Meanwhile, Saga’s blended digital strategy, which includes search, display, search engine optimization, social media, managed email, OTT and connected television, increased 60.8% from a year earlier in the second quarter and 76.4% for the first six months of 2026. E-commerce revenue rose 10.7% in the quarter and 15.2% year to date. Digital represented 19% of gross revenue for the first six months, up from 14% in the comparable 2025 period. Other digital revenue, however, declined 9.6% during the quarter and 8.4% year to date. → On Holding's Price Stumble May Be an Opening for a Company Built to Run Forgy said the company has been building its digital platform for more than three years and is seeking to integrate its radio operations with digital products. He described the company’s current effort as “remodeling the house while we are still living in the house,” referring to the challenge of building new capabilities while operating its established broadcast business. During the second quarter, Saga hired sales managers in nine markets, adding approximately $146,000 in station operating expenses. The company also continued hiring digital campaign managers and related fulfillment employees, which added $211,000 in quarterly expense and $290,000 for the first half. The company expects station operating expenses to increase between 1.5% and 2.5% for the full year, including spending related to its digital initiatives and non-cash tower rental expense. Corporate general and administrative expense declined 13%, or $398,000, in the quarter. Saga expects corporate G&A expense of approximately $11.8 million to $12 million in 2026, compared with $12.3 million last year. Forgy said Saga has moved its search tools in-house and now employs three full-time search specialists. It also hired and trained 10 digital campaign managers, partnered with Marketron NXT for digital fulfillment outside of search, and entered a partnership with Borrell & Associates to gain more market and advertiser data. The company also promoted former Charleston cluster President and General Manager Paul O’Malley to senior vice president of revenue development, with responsibility across traditional, non-traditional and digital revenue. Gross political revenue was $450,000 in the second quarter, compared with $50,000 a year earlier. For the first half, political revenue totaled $725,000, versus $321,000 in the prior-year period. Saga had another $1.1 million in gross political revenue sold for the rest of the year as of the call. Bush said the company was seeing indications of additional prospective political spending that had not yet been booked. He said he was encouraged that political revenue could increase closer to the elections. For the third quarter, Saga said revenue was pacing down in the mid-single digits, while digital revenue was pacing up in the mid- to high-single digits. Excluding political revenue, total revenue was pacing down in the mid- to high-single digits. Monthly pacing showed some improvement, according to Bush. July and August gross revenue were pacing down in the high-single digits, while September was pacing up in the low-single digits on a gross basis. October was pacing up in the mid-single digits gross, though it remained down in the low-single digits excluding political revenue. As of June 30, Saga had $27.8 million in cash and short-term investments, declining to $22.9 million as of Aug. 10. The reduction primarily reflected repayment of the $5 million outstanding under its revolving credit agreement. Following that repayment, the company terminated its existing credit agreement, saying it wanted greater flexibility in using cash for dividends, share repurchases, digital investments, capital expenditures and strategic opportunities. Saga paid a quarterly dividend of $0.25 per share on June 12, totaling about $1.6 million. Bush said the company has paid more than $145 million in dividends since its first special dividend in 2012. The company expects 2026 capital expenditures of approximately $3 million to $3.5 million. It recorded $1.3 million in capital expenditures during the second quarter and $2 million during the first half. In addition to the prior tower sale that generated $10.5 million in cash, Saga said it has sold or is selling six non-core properties since the fourth quarter of 2025 for proceeds exceeding $4 million. Those transactions include the sale of its former Sarasota house for $1.7 million and an unused Portland, Maine, tower site for $1 million. Forgy also highlighted a seven-year joint sales partnership with the University of Florida College of Journalism and Communications. The agreement expands Saga’s broadcast footprint in the Ocala-Gainesville market through a lineup including WOGK-FM, WRUF-AM and FM, WIND-FM and the University of Florida Gators Radio Network. Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities. Founded in 1985 by Edward J. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Saga Communications Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

GROSSE POINTE FARMS, Mich., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company” or “Saga”) today reported that net revenue decreased 6.5% to $26.4 million for the quarter ended June 30, 2026 compared to $28.2 million for the same period last year. Station operating expense increased 5.4% for the quarter to $23.4 million compared to the same period last year, or 3.9% excluding the non-cash rent expense disclosed below. For the quarter, we had operating income of $623 thousand compared to $1.4 million for the same quarter last year and station operating income (a non-GAAP financial measure) decreased 50.6% to $3.0 million. Capital expenditures totaled $1.3 million for the quarter which was comparable to the same period last year. We had net income of $960 thousand for the quarter compared to $1.1 million for the second quarter last year. Diluted earnings per share were $0.15 in the second quarter of 2026. Net revenue decreased 6.0% to $49.3 million for the six-month period ended June 30, 2026 compared to $52.4 million for the same period last year. Station operating expense increased 2.8% for the six-month period to $45.4 million compared to the same period last year, or 1.9% excluding the non-cash rent expense disclosed below. For the six-month period, we had an operating loss of $2.6 million compared to $889 thousand for the same period last year and station operating income (a non-GAAP financial measure) decreased 53.7% to $3.8 million. Capital expenditures for the six-months were $2.0 million which was comparable to the same period last year. We had a net loss of $1.4 million for the six-month period compared to $447 thousand for the same period last year. Diluted loss per share was $0.23 in the six-month period ending June 30, 2026. As previously reported, the Company sold 24 telecommunications towers, related real property and other assets located at 22 sites on October 17, 2025 and as amended in the quarter ended June 30, 2026 for a total cash purchase price of approximately $10.7 million, increasing our liquidity while retaining long term access to those assets with no cash expense. As part of this transaction, we are recording non-cash rent expense as a portion of station operating expense and non-cash interest income on our income statement. The structure of this transaction allows us to account for a portion of the taxable gain as an installment sale for tax purposes over the term of the lease agreements. We have included in the above results the impact that the non-cash rent expense has on our station operating expense. Based on the amendments the Company entered into we expect to report approximately $154 thousand per quarter of non-cash rent expense as a part of station operating expense for the term of the lease agreements and $127 thousand per quarter of non-cash interest income in 2026. The non-cash interest income will change annually reducing to a nominal value at the end of the full term of the lease agreements. For the quarter ended June 30, 2026 the Company recorded $352 thousand in non-cash rent expense which included $154 thousand for the quarter ended June 30, 2026, as well as $99 thousand for the quarter ended March 31, 2026 and $99 thousand for the quarter ended December 31, 2025 to recognize the impact of the amendments on previous quarters. The Company also recorded $381 thousand in non-cash interest income for the quarter ended June 30, 2026 which included $127 thousand for each of the quarters ended June 30, 2026, March 31, 2026 and December 31, 2025. The non-cash expense and non-cash income resulting from prior periods were a result of the accounting for the amendments to the Purchase Agreement and related documents. For the six-month period ended June 30, 2026 the Company recorded $407 thousand in non-cash rent expense and $381 thousand in non-cash interest income. This transaction will be more fully disclosed in our second quarter Form10-Q. The Company paid a quarterly dividend of $0.25 per share on June 12, 2026. The aggregate amount of the quarterly dividend was approximately $1.6 million. To date Saga has paid over $145 million in dividends to shareholders since the first special dividend was paid in 2012.   The Company intends to pay regular quarterly cash dividends in the future. The Company’s balance sheet reflected $27.8 million in cash and short-term investments as of June 30, 2026. As of August 10, 2026 we had $22.9 million in cash and short-term investments. The decrease was primarily due to the repayment in full of the $5.0 million outstanding under our revolving credit facility. The Company expects to spend approximately $3.0 – $3.5 million for capital expenditures during 2026. Saga’s 2026 Second Quarter conference call will be held on Thursday, August 13, 2026 at 11:00 a.m. The dial-in number for the call is (973) 528-0008. Enter conference code 778793. A recording and transcript of the call will be posted to the Company’s website as soon as it is available after the call. The Company requests that all parties that have a question that they would like to submit to the Company please email the inquiry by 10:00 a.m. on August 13, 2026 to [email protected]. The Company will discuss, during the limited period of the conference call, those inquiries it deems of general relevance and interest. Only inquiries made in compliance with the foregoing directions will be discussed during the call. Saga utilizes certain financial measures that are not calculated in accordance with generally accepted accounting principles (GAAP) to assess its financial performance. The attached Selected Supplemental Financial Data tables disclose the Company’s reconciliation of non-GAAP measures: GAAP operating income to station operating income, GAAP net income to trailing twelve-month consolidated EBITDA as well as other financial data. Such non-GAAP measures include station operating income and trailing 12-month consolidated EBITDA. These non-GAAP measures are generally recognized by the broadcasting industry as measures of performance and are used by Saga to assess its financial performance including, but not limited to, evaluating individual station and market-level performance, evaluating overall operations, evaluating the Company’s financial position, and as a primary but not exclusive measure for incentive-based compensation of executives and other members of management. Saga’s management believes these non-GAAP measures are used by analysts who report on the industry and by investors to provide meaningful comparisons between broadcasting groups, as well as an indicator of their market value. These measures are not measures of liquidity or of performance in accordance with GAAP and should be viewed as a supplement to and not as a substitute for the results of operations presented on a GAAP basis including net operating revenue, operating income, and net income. Reconciliations for all the non-GAAP financial measures to the most directly comparable GAAP measure are attached in the Selected Supplemental Financial Data tables. This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10Q. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement. Saga is a media company whose business is devoted to acquiring, developing and operating broadcast properties with a focus on providing opportunities complimentary to our core radio business including digital, e-commerce, local on-line news services and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM and 28 AM radio stations and 78 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com. Contact:Samuel D. Bush(313) 886-7070

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed the revenue decline to significant headwinds in traditional advertising monetization, despite stable audience consumption levels. The company is executing a 'remodeling the house while living in it' strategy, incurring higher operating expenses to build out digital infrastructure and sales leadership. A strategic shift toward a 'blended digital strategy'—combining radio with search, SEO, and social—drove a 76.4% increase in blended digital revenue for the first half of the year. Management emphasized a return to in-house search tools and specialized digital fulfillment teams to improve speed-to-market and campaign optimization. The company is leveraging AI-driven lead generation and proposal tools to increase media advisor efficiency and reduce the time required to create customer-focused solutions. A new partnership with Borrell Associates was established to provide data-driven visibility into market share and advertiser spending patterns to improve surgical sales execution. Management highlighted the University of Florida joint sales partnership as a landmark accretive agreement that expands their broadcast footprint and invests in future media talent. Revenue pacing for Q3 remains down mid-single digits, though management noted sequential improvement in gross revenue trends moving into September and October. The company expects station operating expenses to increase 1.5% to 2.5% for the full year, driven by digital transformation investments and non-cash tower rental expenses. Management anticipates a significant influx of political advertising revenue closer to the general election, noting high levels of prospective inquiries that are not yet booked. Corporate general and administrative expenses are projected to decrease to between $11.8 million and $12 million for 2026, down from $12.3 million in the prior year. The company intends to continue monetizing non-core assets to offset capital expenditures and operational increases required for the digital transition. The company terminated its existing credit agreement to gain greater flexibility in using cash for dividends, share repurchases, and digital investments. A complex tower sale transaction resulted in $10.5 million in cash and $5.4 million in non-cash proceeds, structured to defer taxes over a 25-year lease term without incurring cash rent. Traditional revenue verticals, including local and national advertising, experienced double-digit declines, reflecting a broader industry shift away from legacy monetization models. The sale of six non-core properties is expected to generate over $4 million in proceeds, including a $1.7 million sale of the former Sarasota House. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management reported $1.1 million in gross political revenue currently sold for the remainder of the year. They noted that while bookings are currently lower than 2024 levels, there is a high volume of prospective calls that typically convert closer to the actual election date. Management stated that most major infrastructure investments are complete, particularly in search and display. Future digital expansion will be dictated strictly by customer needs and market shifts rather than speculative product development. The hiring of nine sales managers and ten digital campaign managers is intended to allow media advisors to focus on new business solicitation. Management expects this specialized fulfillment team to improve client retention by monitoring the performance of blended campaigns more effectively.

Interested in Saga Communications, Inc.? Here are five stocks we like better. Saga Communications’ Q1 revenue fell 5.6% to $22.9 million as declines in traditional advertising and other income outweighed a 25.2% jump in digital revenue to $4.4 million. Management is investing heavily in its digital transformation, adding sales and infrastructure resources that are expected to lift 2026 market expenses by about $1.5 million even though the effort should improve competitiveness and client retention over time. Blended digital-radio offerings are growing quickly, with blended revenue up 59% year over year in Q1 and digital-only blended revenue more than doubling, but attrition in non-blended accounts and weakness in streaming categories remain challenges. Saga Communications (NASDAQ:SGA) reported lower first-quarter revenue as weakness in traditional advertising offset continued growth in digital products, while management said the company is continuing to invest in its digital transformation despite near-term pressure on expenses. Executive Vice President and Chief Financial Officer Samuel Bush said net revenue for the quarter ended March 31, 2026, declined $1.3 million, or 5.6%, to $22.9 million, compared with $24.2 million in the prior-year period. He said political advertising was not a significant factor in the quarter, with gross political revenue of $275,000 in the first quarter of 2026 compared with $271,000 in the first quarter of 2025. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% Digital revenue increased $900,000, or 25.2%, to $4.4 million from $3.5 million a year earlier. However, Bush said that growth “was not enough to surpass the decline” in traditional advertising revenue, including national, local direct and local agency sales. Other income declined by about $200,000, primarily due to lower rental income following the sale of tower sites in the fourth quarter of last year. Station operating expenses were approximately flat with the prior-year quarter at $22 million. Bush said Saga expects station operating expenses to increase 1.5% to 2.5% for the full year, including costs tied to building infrastructure for its digital transformation. Corporate general and administrative expense is expected to be approximately flat with last year at $12.3 million. → Light Speed Returns: Corning Cashes In on NVIDIA Growth Bush said Saga is adding resources to support its blended sales strategy, including digital infrastructure, sales managers and digital campaign managers in markets that do not already have them. He said the initiative is intended to allow media advisors to spend more time calling on existing and potential clients while improving campaign execution and retention. “The expense of this initiative will initially be more costly than the revenue it will bring, but it is a necessary expenditure to be competitive with other digital companies and to better serve our clients,” Bush said. He estimated the effort will increase market expenses by about $1.5 million in 2026. → Years in the Making, AMD’s Upside Movement Has Just Begun Chris Forgy, who led much of the company’s operational commentary, said Saga has spent roughly two and a half years training general managers, sales managers, media advisors and content creators across its 27 markets for the digital shift. He described the company’s strategy as “customer-first” rather than “digital-first,” combining radio with search and display advertising. Forgy said Saga’s digital-only blended revenue rose more than $1 million, or 103%, year over year in the first quarter. Local direct revenue attached to blended products, defined as search and display, increased 29%. He also said the average blended local direct radio buy was 70% larger than the average non-blended local direct radio buy, while the average total blended buy per client was three times larger than the average non-blended local radio buy. At the same time, Forgy said account attrition remains a challenge. Saga gained 158 blended accounts but lost 419 non-blended accounts in the quarter. “Significant attrition is real,” he said. Revenue from blended digital and radio together totaled $3.6 million in the first quarter, up $1.3 million, or 59%, from the prior-year period. Still, Forgy said that lift did not offset the company’s overall revenue decline, with total gross revenue down 6% and total net revenue down 5.6%. Forgy highlighted several areas of growth within Saga’s digital portfolio. He said local e-commerce revenue increased 23.2% in the first quarter, and April e-commerce reached a record $347,000. For January through April, e-commerce revenue was up 24% year over year, and trailing 12-month revenue on the e-commerce platform was nearly $3 million. Interactive digital revenue increased 25.2% in the quarter. Within that category, Forgy said SEM and search revenue rose 105% year over year, targeted display rose 120% and social media rose 108%. Other digital areas were weaker. Forgy said national streaming revenue fell 31.5%, primarily due to a change in third-party provider processes and algorithms. Local streaming revenue declined 7%, while online news sites were also down 7.2%. Mobile streaming revenue increased 116%. Bush said Saga currently has $1.4 million in gross political revenue on its books for 2026, compared with $650,000 for all of 2025 and $3.3 million in 2024. He said the company expects political spending to pick up later in the cycle, particularly in the late third and early fourth quarters. The company paid a quarterly dividend of $0.25 per share on March 20, with an aggregate value of about $1.6 million. Bush said Saga’s board declared another quarterly dividend of $0.25 per share on May 6, payable June 12 to shareholders of record as of May 22. Including the newly declared dividend, Saga will have paid more than $145 million in dividends since its first special dividend in 2012, Bush said. Saga reported $30.4 million in cash and short-term investments as of March 31, 2025, and $27.8 million as of May 4, 2026, according to Bush’s remarks. Capital expenditures were $780,000 in the quarter, compared with $700,000 a year earlier. The company expects about $3.5 million in capital expenditures for 2026. Bush also said Saga continues to evaluate non-productive assets for possible monetization. The company previously sold excess land at an Iowa tower site for a little over $200,000 and sold an old studio site in Springfield, Massachusetts, for approximately $500,000 at the end of the quarter. Bush said second-quarter revenue is currently pacing down in the high single digits, with digital revenue up 10.2%. Management said the company is working to bring some digital offerings currently handled by third-party providers in-house, which Forgy said should reduce costs and improve margins over time. He also said Saga has deployed artificial intelligence in on-air and online products, including online news, to create operational efficiencies. Asked about the biggest risks over the next 12 to 24 months, Forgy pointed to the speed of execution and the broader weakness in traditional advertising. Bush said Saga’s priority amid potential industry consolidation is to strengthen the markets it already serves rather than expand simply to become larger. Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities. Founded in 1985 by Edward J. The article "Saga Communications Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Net revenue declined 5.6% to $22.9 million as 25.2% digital growth was insufficient to offset a broader macro downdraft in traditional local and national advertising. Management attributes the traditional revenue decline to significant client attrition, losing 419 non-blended accounts while gaining 158 higher-value blended accounts. The 'blended' strategy—combining radio, search, and display—is yielding 3x larger average total buys per client compared to traditional non-blended radio buys. Operational focus is shifting toward 'remodeling the house while living in it,' transitioning a workforce with nearly 600 years of collective broadcast experience into digital-proficient advisors. The company is monetizing non-productive assets, including tower sites and old studio properties, to fund capital expenditures and digital transformation without impacting core cash flow. Management emphasizes a 'customer-first' rather than 'digital-first' approach, using radio to drive search intent and digital tools to capture and convert that interest. Station operating expenses are projected to increase 1.5% to 2.5% for the year, driven by a $1.5 million investment in digital infrastructure and market-level sales managers. Management anticipates a 'crossover period' in the third and early fourth quarters of 2026, where digital investments are expected to become accretive. Q2 2026 is currently pacing down high single digits, though digital revenue is pacing up 10.2%. The company expects to spend approximately $3.5 million on capital expenditures during 2026, partially offset by the sale of non-core real estate assets. Political revenue is expected to accelerate in late Q3 and early Q4, with $1.4 million already booked compared to $3.3 million total in the 2024 election year. The sale of telecommunications towers in Q4 2025 resulted in a $11.6 million gain but contributed to an approximately $200,000 reduction in quarterly other income, primarily due to lost rental revenue. National streaming revenue fell 31.5% due to changes in third-party provider processes and algorithms, highlighting dependency on external platforms. A non-cash expense of approximately $50,000 per quarter will persist due to accounting requirements related to the tower sale-leaseback structure. The primary strategic risk identified is 'speed of execution'—the ability of local markets to adopt new digital training with sufficient authority and frequency. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Saga is bringing digital offerings in-house to eliminate third-party provider costs and improve operating margins. The company has deployed AI in on-air, online news, and online products to create operational efficiencies. Management identifies search growth, display growth, and local direct growth as the primary KPIs for investors to track. These metrics specifically measure the success of the 'blended' sales strategy over traditional legacy radio metrics. Management is monitoring the FCC for potential changes to ownership limits or rules. The company's first priority is strengthening existing markets rather than expanding solely for the sake of scale. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

GROSSE POINTE FARMS, Mich., May 07, 2026 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company” or “Saga”) today reported that net revenue decreased 5.6% to $22.9 million for the quarter ended March 31, 2026 compared to $24.2 million for the same period last year. Station operating expense decreased 0.2% for the quarter to $22.0 million compared to the same period last year. For the quarter, we had an operating loss of $3.3 million compared to $2.3 million for the same quarter last year and station operating income (a non-GAAP financial measure) decreased 62.0% to $0.9 million. Capital expenditures were $0.8 million for the quarter compared to $0.7 million for the same period last year. We had a net loss of $2.4 million for the quarter compared to $1.6 million for the first quarter last year. Diluted loss per share was $0.38 in the first quarter of 2026. The Company paid a quarterly dividend of $0.25 per share on March 20, 2026. The aggregate amount of the quarterly dividend was approximately $1.6 million. Simultaneous with this earnings release the Company issued a press release declaring a quarterly dividend of $0.25 per share with a record date of May 22, 2026 and a payable date of June 12, 2026. With payment of this most recent declaration Saga will have paid over $145 million in dividends to shareholders since the first special dividend was paid in 2012. The Company intends to pay regular quarterly cash dividends in the future. The Company’s balance sheet reflects $30.4 million in cash and short-term investments as of March 31, 2026 and $27.8 million as of May 4, 2026. For the quarter ended March 31, 2026 the Company recorded capital expenditures of $780 thousand compared to $700 thousand for the same period last year. The Company expects to spend approximately $3.5 million on capital expenditures during 2026. Saga’s 2026 First Quarter conference call will be held on Thursday, May 7, 2026 at 11:00 a.m. The dial-in number for the call is (973) 528-0008. Enter conference code 226287. A recording and transcript of the call will be posted to the Company’s website as soon as it is available after the call. The Company requests that all parties that have a question that they would like to submit to the Company please email the inquiry by 10:00 a.m. on May 7, 2026 to [email protected]. The Company will discuss, during the limited period of the conference call, those inquiries it deems of general relevance and interest. Only inquiries made in compliance with the foregoing directions will be discussed during the call. Saga utilizes certain financial measures that are not calculated in accordance with generally accepted accounting principles (GAAP) to assess its financial performance. The attached Selected Supplemental Financial Data tables disclose the Company’s reconciliation of non-GAAP measures: GAAP operating income to station operating income, GAAP net income to trailing twelve-month consolidated EBITDA as well as other financial data. Such non-GAAP measures include station operating income, trailing 12-month consolidated EBITDA, and consolidated net leverage ratio. These non-GAAP measures are generally recognized by the broadcasting industry as measures of performance and are used by Saga to assess its financial performance including, but not limited to, evaluating individual station and market-level performance, evaluating overall operations, as a primary measure for incentive-based compensation of executives and other members of management and as a measure of financial position. Saga’s management believes these non-GAAP measures are used by analysts who report on the industry and by investors to provide meaningful comparisons between broadcasting groups, as well as an indicator of their market value. These measures are not measures of liquidity or of performance in accordance with GAAP and should be viewed as a supplement to and not as a substitute for the results of operations presented on a GAAP basis including net operating revenue, operating income, and net income. Reconciliations for all the non-GAAP financial measures to the most directly comparable GAAP measure are attached in the Selected Supplemental Financial Data tables. This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement. Saga is a media company whose business provides radio, digital, e-commerce, on-line news and non-traditional revenue initiatives. We provide services to national, regional and local advertisers to help them meet their growing advertising needs. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com. Contact: Samuel D. Bush (313) 886-7070 (1) As presented in the Statement of Cash Flows in the Selected Consolidated Financial Data tables (2) As presented in the Operating Results in the Selected Consolidated Financial Data tables (1) As defined in the Company's credit facility.

GROSSE POINTE FARMS, Mich., May 07, 2026 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company”, “Saga” or “our”) today announced that its Board of Directors (“Board”) declared a quarterly cash dividend of $0.25 per share. The dividend will be paid on June 12, 2026, to shareholders of record on May 22, 2026. The aggregate amount of the payment to be made in connection with the quarterly dividend will be approximately $1.6 million. The quarterly dividend will be funded by cash on the Company’s balance sheet. Including this dividend, the Company will have paid over $145 million in dividends to shareholders since the first special dividend was paid in 2012. The Company currently intends to declare regular quarterly cash dividends in the future. The declaration and payment of any future dividend, whether quarterly, special, or based on the variable dividend policy, or the implementation of any stock buyback program will remain at the full discretion of the Board and will depend on the Company’s financial results, cash requirements, future expectations, and other pertinent factors. Saga is a media company whose business provides radio, digital, e-commerce, local on-line news and non-traditional revenue initiatives. Saga operates in 28 markets and provides services to national, regional and local advertisers to meet their growing advertising needs. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com. This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement. Contact: Samuel D. Bush (313) 886-7070