Beasley Broadcast Group (NASDAQ:BBGI – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $1.77 EPS for the quarter, Zacks reports. Beasley Broadcast Group had a negative return on equity of 19.90% and a negative net margin of 95.44%.
Here are the key takeaways from Beasley Broadcast Group’s conference call:
- Beasley said it has made major progress on the capital structure, including selling Fort Myers assets, restructuring about $184 million of notes into roughly $98 million of new PIK notes, repurchasing first lien debt, and adding a $35 million ABL for liquidity.
- First-quarter results remained under pressure, with revenue of $41.3 million and adjusted EBITDA of about $600,000 on a same-station basis, as local and national agency spending stayed weak.
- Digital revenue grew 18% year over year on a same-station basis, with owned-and-operated digital up about 26% and now making up a much larger share of digital revenue.
- Management highlighted early proof points in Tampa and Boston, where stronger digital adoption and local direct execution are supporting budget attainment, market share gains, and better revenue stability.
- The company expects Q2 revenue to decline in the mid- to high-single digits on a same-station basis, reflecting continued macro pressure and a slower-than-hoped recovery in April, May, and June pacing.
Beasley Broadcast Group Trading Up 6.5%
Shares of NASDAQ:BBGI traded up $1.02 during midday trading on Wednesday, hitting $16.80. The company had a trading volume of 21,101 shares, compared to its average volume of 899,114. Beasley Broadcast Group has a 12 month low of $3.14 and a 12 month high of $26.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.68. The stock has a market cap of $30.34 million, a price-to-earnings ratio of -0.15 and a beta of 4.69. The firm has a fifty day simple moving average of $9.82 and a 200 day simple moving average of $6.68.
Institutional Inflows and Outflows
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Beasley Broadcast Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.
Get Our Latest Research Report on BBGI
Beasley Broadcast Group Company Profile
Beasley Broadcast Group, Inc is a diversified media company primarily engaged in the ownership, operation and licensing of radio broadcast stations across the United States. Headquartered in Naples, Florida, the company provides local and regional audiences with a mix of music, news, talk and sports programming designed to serve diverse demographic markets. Through its portfolio of stations, Beasley generates advertising revenues by offering on-air spots, sponsorships and promotional partnerships to national and local advertisers.
In addition to traditional over-the-air programming, Beasley Broadcast Group offers digital services that include live audio streaming, podcast production, mobile apps and website content for many of its radio brands.
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