WJBR-FM

Beasley Broadcast Group Reports Fourth Quarter Revenue of $65.7 Million and Diluted EPS of $0.21

Retrieved on: 
Monday, February 12, 2024
Operating cost, Overwatch, WJBR-FM, KXTE-FM, Investment, Marketing, Growth, Sale, Net income, Adjustment, Webcast, Activision, Houston Outlaws, Net, Microsoft, Software, Video game

NAPLES, Fla., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today announced operating results for the three- and twelve-month periods ended December 31, 2023. For further information, the Company has posted a presentation to its website regarding the fourth quarter highlights and accomplishments that management will review on today’s conference call.

Key Points: 
  • Beasley reported fourth quarter operating income of $7.6 million, an increase of $39.3 million compared to an operating loss of $31.7 million in the fourth quarter of 2022.
  • Adjusted EBITDA (a non-GAAP financial measure) was $4.7 million in the fourth quarter of 2023 compared to $9.9 million in the fourth quarter of 2022.
  • Net revenues for the 2023 fourth quarter and full year decreased by $6.3 million and $9.3 million, respectively.
  • While macroeconomic pressures held fourth quarter digital revenue flat compared to the prior year, Beasley delivered meaningful full-year digital revenue growth, up 11.4% year-over-year.

Beasley Broadcast Group Reports Third Quarter Revenue Of $60.1 Million

Retrieved on: 
Wednesday, November 1, 2023
Adjustment, Sale, Operating cost, FCC, EBITDA, Net, WJBR-FM, Net income, Software, Advertising, Environment, Growth, Webcast, Beasley, Pharmaceutical industry, Video game, Bank

NAPLES, Fla., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today announced operating results for the three-month period ended September 30, 2023. For further information, the Company has posted a presentation to its website regarding the third quarter highlights and accomplishments that management will review on today’s conference call.

Key Points: 
  • Excluding the third quarter 2023 impairment losses of $88.8 million, Beasley would have reported operating income of $3.3 million in the third quarter of 2023 compared to operating income of $4.7 million in the third quarter of 2022.
  • Excluding the third quarter 2023 impairment losses of $88.8 million, Beasley’s operating income was $3.3 million compared to operating income of $4.7 million in the third quarter of 2022.
  • Adjusted EBITDA (a non-GAAP financial measure) was $5.5 million in the third quarter of 2023 compared to $7.2 million in the third quarter of 2022.
  • “Similar to recent quarters, Beasley delivered strong digital revenue growth of 9.1% year-over-year, with digital revenue representing 18.6% of total third quarter revenue.