Beasley Broadcast Group (BBGI) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 16.1% YoY to $42.8M; Adjusted EBITDA declined to $1.3M from $3.9M.

• Cost reductions, 7% same-station local direct growth and a record 32% digital operating margin partly offset advertising weakness.

• Priorities include rebuilding core revenue, expanding digital profitability, improving free cash flow and reducing leverage.

Financial highlights

• Same-station revenue fell 10.2% YoY; same-station SOI was $3.7M vs. $4.8M, and reported SOI was $3.6M vs. $4.9M.

• Operating expenses excluding corporate costs, D&A and amortization fell 15.1% to $39.1M; same-station operating expenses declined $3.7M.

• Q3 net loss was $12.1M vs. $3.6M; reported operating loss was $12.8M, including a $13.1M FCC license impairment charge.

• 9M revenue was $129.5M vs. $152.9M; 9M net income was $75.4M vs. a $6.4M loss, including a $91.8M debt-restructuring gain.

• 9M Adjusted EBITDA was $5.4M vs. $9.7M; operating cash use increased to $15.4M from $5.3M.

Outlook and guidance

• Q4 revenue was pacing up low- to mid-single digits same-station, or slightly down excluding $2.8M of political revenue; FY26 was pacing down mid-single digits same-station.

• 2027 priorities include rebuilding revenue, improving digital profitability, converting lower costs into stronger EBITDA and free cash flow, and refinancing while divesting non-strategic assets.

• Structural cost savings are expected to continue into 2027 as revenue recovery, digital profitability and commercial opportunities are pursued.

• Digital growth opportunities span streaming, programmatic, branded content and influencer marketing.