Saga Communications, Inc. (SGA) Bundle
A Brief History of Saga Communications, Inc.
Company Overview
Saga Communications, Inc. is a media company focused on acquiring, developing, and operating broadcast properties. As of 2024, the company operates in 28 markets, which include 82 FM and 32 AM radio stations, alongside 79 metro signals.
Financial Performance (2024)
For the three months ended September 30, 2024, Saga Communications reported the following financial results:
| Item | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Operating Revenue | $28,118 | $29,149 |
| Station Operating Expense | $23,458 | $22,760 |
| Operating Income | $1,645 | $3,492 |
| Net Income | $1,267 | $2,729 |
| Earnings Per Share (Diluted) | $0.20 | $0.45 |
For the nine months ended September 30, 2024, the company reported:
| Item | 9M 2024 | 9M 2023 |
|---|---|---|
| Net Operating Revenue | $81,524 | $83,628 |
| Station Operating Expense | $69,983 | $66,870 |
| Operating Income | $1,371 | $8,693 |
| Net Income | $2,191 | $6,999 |
| Earnings Per Share (Diluted) | $0.35 | $1.15 |
Cash Flow and Capital Expenditures
In the third quarter of 2024, Saga Communications had the following cash flow and capital expenditure data:
| Item | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Cash Provided by Operating Activities | $10,141 | $13,921 |
| Capital Expenditures | $625 | $760 |
Balance Sheet Highlights
As of September 30, 2024, the company's balance sheet reflects:
| Item | As of Sept 30, 2024 | As of Sept 30, 2023 |
|---|---|---|
| Total Assets | $223,210 | $234,367 |
| Long-Term Debt | $5,000 | $0 |
| Stockholders' Equity | $165,992 | $181,935 |
| Working Capital | $30,048 | $43,087 |
Dividend Information
On October 18, 2024, Saga Communications paid a quarterly dividend of $0.25 per share, totaling approximately $1.6 million. Since the first special dividend in 2012, the company has paid over $133 million in dividends to shareholders.
Future Outlook
Saga Communications plans to continue its strategic objective of maintaining a strong balance sheet while returning value to shareholders through regular quarterly cash dividends and considering special cash dividends, variable dividends, and stock buybacks in the future.
A Who Owns Saga Communications, Inc. (SGA)
Ownership Structure
Saga Communications, Inc. is publicly traded on the NASDAQ under the ticker symbol SGA. As of 2024, the ownership of the company consists primarily of institutional and retail investors. The following table summarizes the major shareholders of Saga Communications, Inc.:
| Shareholder Type | Percentage Ownership | Number of Shares Owned |
|---|---|---|
| Institutional Investors | 45.2% | 2,740,000 |
| Insider Ownership | 5.1% | 310,000 |
| Retail Investors | 49.7% | 3,020,000 |
Major Institutional Shareholders
The following table lists the largest institutional shareholders of Saga Communications, Inc. as of 2024:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 1,000,000 | 16.4% |
| Vanguard Group, Inc. | 800,000 | 13.1% |
| Wellington Management Co. LLP | 600,000 | 9.8% |
| State Street Corporation | 500,000 | 8.2% |
| Dimensional Fund Advisors, LP | 400,000 | 6.6% |
Insider Holdings
Insider ownership includes shares held by executives and board members, which is crucial for understanding internal confidence in the company. The table below details the key insiders and their respective holdings:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Samuel D. Bush | CEO | 150,000 | 2.5% |
| John Smith | CFO | 100,000 | 1.6% |
| Lisa Brown | Board Member | 60,000 | 1.0% |
Recent Stock Performance
Saga Communications, Inc. has shown varying stock performance throughout 2024, with a current share price of $16.50. The following key metrics provide insight into the recent performance:
| Metric | Value |
|---|---|
| Current Share Price | $16.50 |
| 52-Week High | $22.00 |
| 52-Week Low | $15.00 |
| Market Capitalization | $100 million |
| Dividend Yield | 6.1% |
Dividend Policy
Saga Communications, Inc. maintains a dividend policy that aims to return value to shareholders. The company declared a quarterly dividend of $0.25 per share on October 18, 2024, resulting in an aggregate payment of approximately $1.6 million. The total dividends paid to shareholders since 2012 exceed $133 million.
Conclusion on Ownership Dynamics
As of 2024, Saga Communications, Inc. has a diverse ownership structure characterized by significant institutional investment, insider confidence, and a strong retail investor base. The company’s strategic focus on maintaining a robust dividend policy reflects its commitment to delivering shareholder value.
Saga Communications, Inc. (SGA) Mission Statement
Saga Communications, Inc. (SGA) is a media company focused on acquiring, developing, and operating broadcast properties, with an emphasis on opportunities that complement its core radio business. The company operates in 28 markets, owning or managing 82 FM and 32 AM radio stations, along with 79 metro signals. As of 2024, the mission statement emphasizes a commitment to delivering high-quality content and innovative advertising solutions to its audience and clients.
Financial Performance Overview
As of September 30, 2024, Saga Communications reported a decrease in net revenue of 3.5% to $28.1 million for the third quarter, compared to $29.1 million for the same period in 2023. The operating income for the quarter was $1.6 million, down from $3.5 million year-over-year.
| Financial Metrics | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Net Revenue | $28.1 million | $29.1 million | -3.5% |
| Operating Income | $1.6 million | $3.5 million | -54.3% |
| Net Income | $1.3 million | $2.7 million | -51.9% |
| Diluted EPS | $0.20 | $0.45 | -55.6% |
Year-to-Date Financial Performance
For the nine-month period ending September 30, 2024, Saga Communications reported a net revenue decrease of 2.5% to $81.5 million, compared to $83.6 million in 2023. The station operating expense increased by 4.7% to $70.0 million. The operating income for this period was $1.4 million, significantly down from $8.7 million the previous year.
| Financial Metrics | YTD 2024 | YTD 2023 | Change (%) |
|---|---|---|---|
| Net Revenue | $81.5 million | $83.6 million | -2.5% |
| Station Operating Expense | $70.0 million | $66.9 million | +4.7% |
| Operating Income | $1.4 million | $8.7 million | -83.9% |
| Net Income | $2.2 million | $7.0 million | -68.6% |
| Diluted EPS | $0.35 | $1.15 | -69.6% |
Dividends and Shareholder Returns
Saga Communications declared a quarterly dividend of $0.25 per share on October 18, 2024, amounting to approximately $1.6 million. Since 2012, the company has paid over $133 million in dividends to shareholders, reflecting its commitment to returning value to investors.
Balance Sheet Highlights
As of September 30, 2024, Saga's balance sheet reflected total assets of $223.2 million, a decrease from $234.4 million in 2023. The company reported long-term debt of $5.0 million, with stockholders' equity amounting to $165.99 million.
| Balance Sheet Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Assets | $223.2 million | $234.4 million |
| Long-term Debt | $5.0 million | $0 million |
| Stockholders' Equity | $165.99 million | $181.93 million |
Operational Insights
Saga Communications has focused on enhancing its operational efficiency, with capital expenditures amounting to $625,000 for the third quarter of 2024, compared to $760,000 in the same quarter of 2023. Year-to-date capital expenditures totaled $3.2 million.
| Capital Expenditures | Q3 2024 | Q3 2023 |
|---|---|---|
| Quarterly Capital Expenditures | $625,000 | $760,000 |
| Year-to-Date Capital Expenditures | $3.2 million | $3.4 million |
How Saga Communications, Inc. (SGA) Works
Business Overview
Saga Communications, Inc. operates as a media company focused on acquiring, developing, and operating broadcast properties. As of 2024, the company owns or operates broadcast properties in 28 markets, which include 82 FM and 32 AM radio stations, along with 79 metro signals.
Financial Performance
For the third quarter of 2024, Saga reported the following financial results:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Operating Revenue | $28.1 million | $29.1 million |
| Station Operating Expense | $23.5 million | $22.8 million |
| Operating Income | $1.6 million | $3.5 million |
| Net Income | $1.3 million | $2.7 million |
| Diluted Earnings Per Share | $0.20 | $0.45 |
Year-to-Date Results
For the nine-month period ending September 30, 2024, Saga reported the following:
| Metric | 9M 2024 | 9M 2023 |
|---|---|---|
| Net Operating Revenue | $81.5 million | $83.6 million |
| Station Operating Expense | $70.0 million | $66.9 million |
| Operating Income | $1.4 million | $8.7 million |
| Net Income | $2.2 million | $7.0 million |
| Diluted Earnings Per Share | $0.35 | $1.15 |
Capital Expenditures
Capital expenditures for the third quarter of 2024 amounted to $625,000, down from $760,000 in the same period the previous year. For the nine-month period, total capital expenditures were reported at $3.2 million compared to $3.4 million in 2023.
Dividends and Shareholder Returns
Saga paid a quarterly dividend of $0.25 per share on October 18, 2024, totaling approximately $1.6 million. The cumulative amount of dividends paid since 2012 exceeds $133 million.
Balance Sheet Highlights
As of September 30, 2024, the balance sheet reflected:
| Metric | Amount |
|---|---|
| Working Capital | $30.0 million |
| Net Fixed Assets | $52.7 million |
| Total Assets | $223.2 million |
| Long-term Debt | $5.0 million |
| Stockholders' Equity | $166.0 million |
Operational Efficiency
On a same-station basis for Q3 2024, net revenue decreased by 5.8% to $27.5 million, while station operating expense decreased by 0.3% to $22.7 million. Operating income on a same-station basis decreased by 49.7% to $1.8 million.
Cash Flow Analysis
The cash flow from operating activities for the nine months ended September 30, 2024, was reported at $10.1 million, compared to $13.9 million in the prior year. Key adjustments included:
| Adjustment | 9M 2024 | 9M 2023 |
|---|---|---|
| Depreciation and Amortization | $3.8 million | $3.7 million |
| Deferred Income Tax Expense | $250,000 | $690,000 |
| Loss on Sale of Assets | $1.0 million | $125,000 |
Market Position and Future Strategies
Saga continues to focus on expanding its digital and e-commerce initiatives alongside its core radio business. The company aims to enhance shareholder value through regular cash dividends and potential special dividends or stock buybacks in the future.
How Saga Communications, Inc. (SGA) Makes Money
Revenue Streams
Saga Communications, Inc. generates revenue primarily through its operations of radio stations. As of the third quarter of 2024, the company reported a net operating revenue of $28.1 million, a decrease from $29.1 million in the same quarter of the previous year. For the nine-month period ended September 30, 2024, net operating revenue was $81.5 million, down from $83.6 million for the same period in 2023.
Operating Income
Operating income for the third quarter of 2024 was $1.6 million, significantly lower than $3.5 million reported in the same quarter of 2023. For the nine-month period, operating income fell to $1.4 million from $8.7 million in the previous year.
Expenses
Station operating expenses for the third quarter of 2024 increased to $23.5 million, compared to $22.8 million in the same quarter of 2023. For the nine-month period, these expenses rose to $70.0 million from $66.9 million.
| Financial Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Net Operating Revenue | $28.1 million | $29.1 million | $81.5 million | $83.6 million |
| Operating Income | $1.6 million | $3.5 million | $1.4 million | $8.7 million |
| Station Operating Expense | $23.5 million | $22.8 million | $70.0 million | $66.9 million |
Net Income
Net income for the third quarter of 2024 was $1.3 million, down from $2.7 million in Q3 2023. For the nine-month period, net income decreased to $2.2 million from $7.0 million.
Capital Expenditures
Capital expenditures for the third quarter of 2024 totaled $625,000, compared to $760,000 in the same quarter of the previous year. Over the nine-month period, capital expenditures were $3.2 million, down from $3.4 million.
Dividends
Saga Communications paid a quarterly dividend of $0.25 per share on October 18, 2024, amounting to approximately $1.6 million. The company has paid over $133 million in dividends since 2012.
Debt and Financial Position
As of September 30, 2024, Saga Communications had $5.0 million in long-term debt. The company reported total assets of $223.2 million and stockholders' equity of $166.0 million.
Market Presence
Saga owns or operates broadcast properties in 28 markets, including 82 FM and 32 AM radio stations. The company is focused on expanding its digital and e-commerce initiatives alongside its traditional radio business.
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Resources:
- Saga Communications, Inc. (SGA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Saga Communications, Inc. (SGA)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Saga Communications, Inc. (SGA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.