Saga Communications Second Quarter 2024 Earnings: EPS Beats Expectations

Saga Communications (NASDAQ:SGA) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$28.7m (down 1.5% from 2Q 2023).
• Net income: US$2.50m (down 24% from 2Q 2023).
• Profit margin: 8.7% (down from 11% in 2Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.41 (down from US$0.55 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Saga Communications EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 38%.

Looking ahead, revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Media industry in the US.

Performance of the American Media industry.

The company's shares are up 4.5% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Saga Communications that you should be aware of.

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