Beasley Broadcast Group, Inc. (BBGI) Q1 2024 Earnings Call Transcript | Old North State Wealth News
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Beasley Broadcast Group, Inc. (BBGI) Q1 2024 Earnings Call Transcript

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Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q1 2024 Earnings Conference Call May 8, 2024 11:00 AM ET

Company Participants

Caroline Beasley – CEO
Marie Tedesco – CFO

Conference Call Participants

Operator

Good morning, and welcome to Beasley Broadcast Group First Quarter 2024 Earnings Call. Before proceeding, I would like to emphasize that today’s conference call and webcast will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Factors section of our most recent annual report on Form 10-K as supplemented by our quarterly reports on Form 10-Q.

Today’s webcast will also contain a discussion of certain non-GAAP financial measures within the meaning of Item 10 on Regulation S-K. A reconciliation of these non-GAAP measures with their most directly comparable financial measures calculated and presented in accordance with GAAP can be found in this morning’s news announcement and on the company’s website.

I would also like to remind listeners that following its completion, a replay of today’s call can be accessed for five days on the company’s website, www.bbgi.com. You can also find a copy of today’s press release on the Investors or Press Room sections of the site.

At this time, I would like to turn the conference over to your host, Beasley Broadcast Group CEO, Caroline Beasley. Please go ahead.

Caroline Beasley

Thank you, Melissa, and good morning, everyone. Thank you for joining us to review our first quarter results. Marie Tedesco, our CFO, is with me this morning.

Industry-wide ad softness led to a first quarter revenue decrease of 5.9%, which is slightly below the pacings we previewed at the time Q4 was reported. Perhaps more importantly, on a same-station basis, meaning excluding revenue from WJBR, the Outlaws and the March 23 home show in the year-ago period, first quarter revenue declined 3.1% or $1.7 million.

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