Saga Communications, Inc. (SGA) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone, and welcome to the Saga Communications second quarter earnings release and conference call. At this time, all participants are placed on a listen-only mode. It is now my pleasure to hand the floor over to your host, Chris Forgy, President and CEO of Saga. Sir, the floor is yours. Thank you, Matthew. And once again, thank you to everyone who has taken the time to join Saga Communications' 2026 Q2 earnings call. We appreciate your continued support, your interest, and your participation in Saga Communications, Inc., what we believe is the best media company on the planet. Before my remarks, I'm going to surrender the floor to Sam, but only for a moment, Sam, so don't get comfortable. And then I'll be back with my comments shortly thereafter. Sam? Thank you, Chris. This call will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties that are described in the risk factor section of our most recent form 10-K and 10-Qs. This call will also contain a discussion of certain non-GAAP financial measures. Reconciliation for all the non-GAAP financial measures to the most directly comparable GAAP measure are included in the selected financial data tables. For the quarter ended June 30, 2026, net revenue decreased $1.8 million or 6.5% to $26.4 million compared to $28.2 million last year. Station operating expense increased $1.2 million or 5.4% for the quarter or 3.9% excluding the non-cash rent expense. We incurred the non-cash rent expense as a result of the tower sale we have discussed on previous calls. I will add more detail in a few minutes as well as talk more about station operating expenses in general as we continue to make progress on our digital initiatives. It is important to no...