Beasley Broadcast Group Q3 revenue falls on weak ad market
BBGI•Beasley Broadcast Group's third-quarter revenue fell 16% year over year to $42.8 million as national and local agency advertising weakened. Adjusted EBITDA declined to $1.3 million from $3.9 million a year earlier, and the company reported a $12.1 million net loss.
1. Revenue and earnings
Third-quarter revenue fell 16% year over year to $42.8 million, while adjusted EBITDA declined to $1.3 million from $3.9 million. Beasley Broadcast Group reported a net loss of $12.1 million and an operating loss of $12.8 million.
2. Business drivers and priorities
Declines in national and local agency advertising drove revenue lower. Digital revenue fell 24% year over year and 12% on a same-station basis, although digital margins improved; operating expenses declined 15% following structural cost reduction initiatives. The company said its priorities are stabilizing core revenue, expanding digital profitability and reducing leverage.
3. Asset sale
After the quarter, the company completed an asset sale that raised more than $10 million to reduce debt. Beasley said the advertising environment remains challenging and it aims to translate operational improvements into more consistent financial performance.
