In an uncommon move announced just hours before analysts and investors were set to receive them, Salem Media Group on November 6 shelved the distribution of its Q3 earnings results until further notice.
The company focused on conservative talk and Christian-themed programming is now ready to present its numbers to investors and analysts.
Salem confirmed that it will release its Q3 results at 3pm Eastern on Nov. 12. A teleconference to discuss the results is set for 4pm Eastern.
What can investors expect to see from the purveyor of Christian-themed and Conservative Talk programming in Q3, once the auditors are done with their work?
The forecast isn’t great. For Q3 Salem is projecting total revenue to decrease between 4% and 6% from year-ago revenue of $65.5 million. Excluding the impact of political revenue and recent acquisitions and dispositions, the company is projecting total revenue to decrease between 2% and 4%.
In morning trading on Veterans’ Day, SALM was up — rising 1.7% to $1.48 as of 11:11am Eastern.
That’s good news: On Thursday, SALM slid to a closing price of $1.46. That was the lowest Salem finish since July 2009.
