With network revenue and digital gains making the first quarter of 2023 a three-month period in which CEO Caroline Beasley was “thrilled” with the “significant success and growth” seen at Beasley Media Group, what can investors and analysts expect to hear from the owner of radio stations that has also invested in eSports regarding the quarter ending June 30?
The answers will come on Thursday, August 3, which is the date Beasley has selected to unveil its Q2 2023 financial results.
The report featuring all of the financial details will arrive prior to the Opening Bell on Wall Street; Caroline Beasley and CFO Marie Tedesco will host an earnings call at 11am Eastern.
And, as has been the case for the last several quarters, no live questions will be taken by the two executives during the call. Rather, they ask that questions from analysts, institutional investors and debt holders be e-mailed to [email protected] at any time up until 9am Eastern on August 3.
What can investors expect to hear from Beasley, which trades on the Nasdaq?
As of the company’s first quarter earnings call in late April, Beasley’s Q2 revenue was pacing “slightly down,” Caroline Beasley said on the Q1 2023 call.
- April is down 3%
- May is down 2%
- June is up 2%
The April pacings are reflective of the 2022 Tampa Home Show event, which was held that month one year ago, resulting in unfair year-to-year comparisons; flat to slightly-up pacings are, therefore, the true year-over-year story because of those unfair comps.
Local is pacing up; national is pacing down by double-digits.
Two analysts presently track Beasley, and the earnings per share estimates they give for Q2 2023 are -$0.07 and -$0.06, respectively. The revenue estimate for Q2 is $63.85 million.
As the current trading week began, BBGI was valued at under $1, and has been a sub-$1 stock for most of July. With the performance outlook negative in both the short-term and long-term for Beasley and analysts calling the stock “overvalued” even at its current valuations, this could be putting increased pressure on the company to lower expenses while growing profits in some of its softer markets.
