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Beasley Broadcast (BBGI)
:BBGI
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Beasley Broadcast Group
(NASDAQ:BBGI)49Neutral
Beasley Broadcast Group (BBGI) vs. S&P 500 (SPY)
Market Cap
$11.53M
Dividend YieldN/A
Average Volume (3M)3.57K
Price to Earnings (P/E)3.6
Beta (1Y)-0.31
Revenue Growth-5.77%
EPS GrowthN/A
CountryUS
Employees1,147
SectorCommunication Services
Sector Strength85
IndustryTraditional Media
Share Statistics
EPS (TTM)1.75
Shares Outstanding938,690
10 Day Avg. Volume4,467
30 Day Avg. Volume3,566
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.05
Price to Cash Flow (P/CF)-0.60
P/FCF Ratio4.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Beasley Broadcast Group Business Overview & Revenue Model
Company DescriptionBeasley Broadcast Group, Inc. (BBGI) is a publicly traded American company that operates radio stations across the United States. Founded in 1961 and headquartered in Naples, Florida, Beasley Broadcast Group owns and operates a diverse portfolio of AM and FM radio stations in various markets, providing a range of programming formats including music, talk, sports, and news. The company aims to deliver compelling entertainment and information to its audiences while serving the needs of advertisers and stakeholders.
How the Company Makes MoneyBeasley Broadcast Group makes money primarily through the sale of advertising time on its radio stations. This involves selling airtime to local, regional, and national advertisers who wish to reach its audience across different markets and demographic segments. Revenue is also generated through digital advertising and online streaming services, as the company expands its digital presence. Additionally, Beasley participates in event hosting and sponsorship, leveraging its brand and audience reach to create promotional opportunities. Strategic partnerships and joint ventures with other media companies further contribute to its revenue streams by enhancing content offerings and expanding market reach.
Beasley Broadcast Group Financial Statement Overview
Summary
Beasley Broadcast Group faces significant financial challenges with declining revenue, low profitability, high leverage, and cash flow difficulties. Despite minor improvements in EBIT and EBITDA margins, the high debt level and negative free cash flow emphasize the company's precarious financial position.Income Statement
The income statement shows a concerning decline in revenue from the previous year, with a negative revenue growth rate of -3.38% from 2023 to TTM. The gross profit margin for TTM is 11.07%, indicating limited profitability. The net profit margin is also low at 1.07%. While there is a slight recovery in EBIT and EBITDA margins to 3.38% and 14.64% respectively, the company has struggled with profitability in the past, highlighting inconsistent financial performance.45
Neutral
Balance Sheet
The balance sheet reveals a high debt-to-equity ratio of 2.08 in TTM, indicating significant leverage which poses financial risks. The return on equity is low at 1.75%, suggesting limited effectiveness in using equity to generate profit. The equity ratio stands at 25.52%, showing a moderate proportion of assets financed by equity. Overall, the balance sheet reflects financial instability with a high-risk profile due to debt levels.40
Negative
Cash Flow
Cash flow analysis shows negative free cash flow for TTM, although there is a slight improvement from the previous year's negative figure. The operating cash flow to net income ratio is negative, indicating cash flow challenges despite nominal net income. Additionally, the free cash flow to net income ratio is also negative, emphasizing cash generation issues. Overall, the company faces difficulties in generating sufficient cash flow, impacting liquidity.35
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 238.75M | 247.11M | 256.38M | 241.43M | 206.14M | 261.55M | Gross Profit |
| 26.43M | 38.86M | 33.22M | 30.65M | 203.14M | 260.79M | EBIT |
| 8.06M | -81.99M | 16.61M | 14.66M | -2.47M | 38.12M | EBITDA |
| 34.96M | -63.84M | -23.00M | 31.04M | 4.09M | 45.22M | Net Income Common Stockholders |
| 2.56M | -75.12M | -43.38M | -1.40M | -18.71M | 13.45M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 13.43M | 26.73M | 39.53M | 51.38M | 20.76M | 18.65M | Total Assets |
| 681.09M | 574.27M | 707.44M | 762.09M | 738.61M | 759.99M | Total Debt |
| 243.34M | 305.73M | 331.12M | 330.23M | 295.06M | 298.43M | Net Debt |
| 229.91M | 278.99M | 291.59M | 278.85M | 274.30M | 279.78M | Total Liabilities |
| 406.05M | 425.29M | 485.29M | 499.01M | 471.51M | 475.52M | Stockholders Equity |
| 275.03M | 148.98M | 222.15M | 263.08M | 267.73M | 284.54M |
| Cash Flow | Free Cash Flow | ||||
| -5.67M | -8.87M | -2.22M | -6.41M | -3.26M | 11.96M | Operating Cash Flow |
| -1.92M | -4.68M | 11.15M | -1.91M | 4.21M | 20.99M | Investing Cash Flow |
| 13.08M | 6.87M | -14.18M | -1.14M | -3.85M | -4.96M | Financing Cash Flow |
| -13.03M | -14.99M | -8.81M | 33.66M | 1.74M | -10.82M |
Beasley Broadcast Group Technical Analysis
Negative
6.50
Price Trends
8.21
Negative
9.19
Negative
10.84
Negative
Market Momentum
-0.42
Positive
24.37
Positive
11.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BBGI, the sentiment is Negative. The current price of 6.5 is below the 20-day moving average (MA) of 7.65, below the 50-day MA of 8.21, and below the 200-day MA of 10.84, indicating a bearish trend. The MACD of -0.42 indicates Positive momentum. The RSI at 24.37 is Positive, neither overbought nor oversold. The STOCH value of 11.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BBGI.
Beasley Broadcast Group Risk Analysis
Beasley Broadcast Group disclosed 26 risk factors in its most recent earnings report. Beasley Broadcast Group reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Beasley Broadcast Group Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $30.54B | 0.25 | -13.23% | 4.04% | 2.36% | -49.53% | |
49 Neutral | $11.53M | 3.61 | 1.77% | ― | -5.77% | ― | |
47 Neutral | $40.89M | ― | -33.39% | ― | -7.46% | -639.07% | |
41 Neutral | $21.49M | ― | -193.00% | ― | -2.07% | -138.25% | |
36 Underperform | $234.34M | ― | 86.54% | ― | 2.76% | 9.71% |
* Communication Services Sector Average
Performance Comparison
BBGI
Beasley Broadcast Group
6.30
-10.37
-62.21%
CMLS
Cumulus Media
0.52
-3.16
-85.87%
UONE
Urban One
1.38
-1.10
-44.35%
IHRT
iHeartMedia
1.83
-0.36
-16.44%
Beasley Broadcast Group Earnings Call Summary
Earnings Call Date: Feb 17, 2025 | % Change Since: -45.10% | Next Earnings Date: May 6, 2025
Earnings Call Sentiment Neutral
The call reflected a period of restructuring and strategic focus, with significant achievements in debt reduction and digital growth, but faced challenges in overall revenue decline and national advertising constraints.Highlights
Successful Debt Reduction
Completed exchange offer, new notes offering, and tender offer resulting in an immediate debt reduction of $47 million and extension of maturities to August 2028.
Increase in Political Revenue
Generated $2.7 million in net political revenue in Q3, bringing year-to-date net political revenue to $3.7 million, up 23% compared to the same period in 2020.
Digital Revenue Growth
Digital segment revenue grew 11.7% on a same-station basis for the quarter and 13.6% year-to-date, with digital accounting for 19.4% of Q3 total revenue.
Operating Income Improvement
Operating income increased 101.4% year-over-year from a negative $85.5 million to a positive $1.2 million due to reduced impairment loss.
Expense Reductions and Efficiency
Achieved expense reductions projected at over $5 million annually through voluntary early retirement and strategic headcount reductions.
Lowlights
Decline in Overall Revenue
Total net revenue declined 3.2% in Q3, reflecting challenges in the ad environment and economy at large.
Decrease in Local Spot Revenue
Over-the-air local revenue was down 8.9% same-station, with a 6.9% decline in local agency business.
Challenges in National Advertising
National revenue remains constrained, down 16% excluding political factors, reflecting broader industry challenges.
Auto Revenue Decline
Auto category revenue was down 11% year-over-year due to squeezed profits from rising inventory levels and high interest rates.
Company Guidance
During Beasley Broadcast Group's Q3 2024 earnings call, key metrics highlighted included a successful debt reduction of $47 million, extending maturities to August 2028, with 98.4% support from noteholders. The company executed a reverse stock split to maintain its NASDAQ listing. In Q3, same-station revenue rose by 0.5%, whereas total net revenue decreased by 3.2% year-over-year. Political revenue saw a significant increase, with $2.7 million generated in Q3, contributing to a total of $3.7 million year-to-date. Digital revenue grew by 11.7% on a same-station basis, now comprising 19.4% of total revenue. National revenue increased by 11.2% including political contributions, despite a 16% drop excluding political. Operating expenses fell by 0.3%, with a station operating income of $8.2 million. The company reported an adjusted EBITDA of $5.6 million for the quarter, with cash on hand at $27.8 million. Beasley Broadcast Group's strategic focus remains on digital growth and operational efficiency, projecting total annualized savings of approximately $20 million.Beasley Broadcast Group Corporate Events
Business Operations and StrategyFinancial Disclosures
Beasley Broadcast Group Highlights Strategic Financial Initiatives
Neutral
Nov 13, 2024
Beasley Broadcast Group is presenting financial materials to investors, showcasing their strategic efforts in cost reduction and financial performance improvement. The company is focusing on significant expense savings through various operational shifts, including headcount reductions and strategic partnerships. While utilizing non-GAAP financial measures to provide insight into their operational effectiveness, Beasley Broadcast Group also emphasizes the inherent risks and uncertainties in the financial market that could impact their future performance.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.