In This Article:
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Total Net Revenue (Q4 2024): $67.3 million, a 2.3% increase compared to Q4 2023.
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Total Net Revenue (Full Year 2024): $240 million, a 2.8% decline compared to full year 2023.
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Same-Station Revenue (Q4 2024): Increased by 4.4%.
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Same-Station Revenue (Full Year 2024): Increased by 0.2%.
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Digital Revenue (Q4 2024): Accounted for 17.1% of total revenue.
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Digital Revenue (Full Year 2024): Accounted for 19.4% of total revenue, up from 18.4% in the prior year.
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Political Revenue (Q4 2024): $8.3 million.
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Political Revenue (Full Year 2024): $12.1 million.
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Station Operating Income (Q4 2024): $14.1 million, a 46% increase year-over-year.
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Operating Income (Q4 2024): $7.6 million, steady year-over-year.
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Interest Expense (Q4 2024): $3.5 million, a reduction of $3.4 million year-over-year.
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EBITDA (Q4 2024): $12.5 million.
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EBITDA (Full Year 2024): $32.2 million, a 35% improvement versus prior year.
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Capital Expenditures (Q4 2024): $387,000.
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Cash on Hand (End of Q4 2024): $13.8 million, down from $27.8 million at the end of Q3.
Release Date: March 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Beasley Broadcast Group Inc (NASDAQ:BBGI) achieved over $20 million in annualized savings through workforce realignment and technology-driven efficiencies.
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The company successfully executed strategic capital structure initiatives, improving its leverage profile and reducing financial risk.
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Political advertising revenue was strong, with $8.3 million in Q4 and $12.1 million for the full year, driven by federal election spending.
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Digital revenue as a percentage of total revenue increased to 19.4% for the full year, indicating growth in digital offerings.
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Station operating income (SOI) increased by 46% year-over-year in Q4, reflecting improved profitability.
Negative Points
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National advertising revenue, excluding political, declined by 4.9% in Q4, with further pressure expected in sectors like auto and consumer goods.
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Local over-the-air revenue declined by 5.7% in Q4, reflecting broader market trends and inventory constraints due to strong political advertising.
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New business development revenue declined by 12.8% year-over-year in Q4, indicating challenges in attracting new advertisers.
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Sports betting revenue decreased by $1.1 million year-over-year in Q4, reflecting a shift in industry strategies.
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Cash on hand decreased to $13.8 million at the end of Q4, down from $27.8 million at the end of Q3, due to debt repayments and restructuring fees.