What a way to start a new month.
The second quarter financial results for the audio media company with an investment in eSports will be distributed on Monday, August 1 before the Opening Bell on Wall Street.
Then, at 10am Eastern, Beasley Media Group CEO Caroline Beasley and CFO Marie Tedesco will host an earnings call for investors and financial analysts eager to learn how the company fared in the three-month period ending June 30, 2022.
Perhaps more “ongoing progress” is in store. That was the headline takeaway from the company’s first quarter 2022 report, in which Beasley experienced a lower net loss on a 15.6% gain in net revenue. The non-GAAP measure of Station Operating Income (SOI), for years a calculation of choice for radio broadcasting companies, rose to $5.9 million from $5.1 million.
On the call, Caroline Beasley offered a brief preview of what to expect come this Monday.
“Looking ahead to the second quarter and second half of 2022, our focus remains on driving further revenue diversification and audience expansion, improving margins, benefiting from the return of the political cycle, maintaining a strong and flexible balance sheet, reducing net leverage and growing free cash flow,” she said. “We expect progress on each of these fronts as we continue to close the gap on our pre-pandemic revenue and SOI levels and grow from there. I am extremely proud of our team members across the Company for everything they have done and are doing to help us move past the challenges presented by the pandemic. We have clearly accomplished a lot and I believe we have many more opportunities ahead to build the company and enhance stockholder value.”
That said, BBGI was priced at $1.25 just before 1pm Eastern on Tuesday, and is close to its pandemic-fueled lows. One year ago, Beasley was priced at $2.66 per share.
