SGA - Earnings call transcript Q1 2018 | Saga Communications, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Saga First Quarter Earnings Call. At this time, all lines are in a listen-only mode. And as a reminder, today's conference is being recorded. I'd now like to turn the conference over to President and CEO, Ed Christian. Please go ahead.

Edward K. Christian

Ryan. you, Thank everybody. Good morning, always to for sitting as years many is Sam next me here Bush. And now,

Samuel D. Bush

Thank you, Ed.

Now are the recent and forward-looking are certain financial Reconciliation our statements measure that preliminaries, most will risks described about call of measures. the non-GAAP involve Factors in non-GAAP our course, in at the measures comparable future section uncertainties This performance and the results Risk operations attached for first. will directly of contain that This of also Financial call XX-K. Selected financial Form a of most to Data discussion the all GAAP table. contain

we First and to television mind that the as will and This second third income this quarters per net discontinued in and the for the of operations stations keep of in comparable as share at diluted know performance you we on to financial that you as XXXX need the cash information. September this flow periods from have this income, free important when reported tax. X, quarter, of earnings sold you the be true is XXXX, for year net look compare well,

Carolina Charleston the as acquired Head, We also of date. and Hilton same stations in the South

to the Now numbers.

$X.X flow our quarter This under as To on and included Data job, and Hampshire operations of is cash from revenue a believe, item increased We're X.X% doing and good of free On still increased as is this Free For same I to X.X% year. $XXX,XXX the XX.X% basis. to increased release. quarter, operations station no an cash increased income due our better Supplemental that and Financial basis. we income X.X%. basis, expenses basis note One on an New continuing additional additional from couple operating keeping continuing a operating net station share reported operating a on increased of per station from to continuing operating of increased are as reported XX.X% X.X% of Operating a same we million. reported station expense expense other net income section operations, the the understand, of using. really tables a primarily longer income Keene, net part income a sale flow, for we've of that calculations tower our outside $XXX,XXX reconciliation of the press control.

level Jobs in tax from As deferred we a decline result and of of to XX% a rate XX% XX% to current expect a to Cut our Tax of historic XXXX, Act XX% passed XX% ongoing to XX% tax the our including to rate. level

directors. our regular intend as over declared to dividends million of on Currently, pay share $X CapEx $X.XX we Our XX, and we million dividends quarterly for will we couple At of in X, million. which our response million. to million last hand In future continuing facility $XX to Act. a for be the XXXX, cash XXXX, Including year. per that as change $XX well we expect in rates quarter given quarter, end the and outstanding. dividends be of expectations are was $XX.X for special studio have which December March studio on operate, paid we've the was million the the debt various of approximately the subject $X.X XXXX. the purchased. had board now $X cash continuing paid Federal as CapEx the and Cash in dividend, in We hand between to a may adjust in recently we to sites, including Charleston this to of tower in year the was the we point, At quarter operations million. at by $XX cash compared end considering since stock on upgrade their states million $X.X

as to have Additionally, reported, SEC's we Program Buyback pursuant the active previously XXbX. Rule we Stock that is have a

the the quarter, of revenue in shares a we the political approximately to political impact quarter, shares as to repurchased approximately year have do X,XXX $XX,XXX. progresses. We X,XXX the the later $XXX,XXX. we second Subsequent season During expect another the flat. we be end quarter to repurchased positive revenue for Currently, on expect

compared to first the revenue During gross political XXXX. $XX,XXX quarter, $XXX,XXX was in

operating XXXX. be to up station X% to expenses X% same expect for We

for the expect you, expense We million. we year I interest of to At with back in cash And to Ed. million XXXX flow the be it to for $XX that, $XX around will free range be this over point, expect turn $X million. to

Edward K. Christian

expecting. (XX:XX:XX) Right?

Samuel D. Bush

That's right.

Edward K. Christian

There I'm two the between that at one way, there's about delay go. By Okay. second phones looking Sam, a on. we we're the

of So it's kind a...

Samuel D. Bush

well. A of little bit echo an as

Edward K. Christian

Well, right, another appear. Sam. where Roberts quarter all Well, Pirate did the Dread not

Okay.

manage we If as true. anticipated, go we needle QX. thrilling to was I Let's last skeptical I of and to queasy than add a I bit – conditions We that and little Well, just one. of call, to it's a surrounding I the quarter about tales our back color a QX. better said bit move did was return upwards was yesteryear, those about and the little to

is spent burner categories primarily that the were either automotive is a hospital were is costs QX automotive down and category (XX:XX:XX). turned disappointing, it or hot medical, saw and of spend. not and both Some And the

In out reduction saw there more actually, than because off exercised that and the staff markets, in groups. caution loss that in-force put a I dealer admissions. in think of months further automotive there were the anticipation of of dealers we hospitals, another and that several the their notices to it's couple by were were some sales Hospital's story.

were share of than a on directors a decade, becoming a and growth in Now, but several and loss that talk of the acquaintances, was me shift a they friends some I and a outpatient the of in to obsolescent, value years was ago, for more fear there was hospitals hospital about and to that I of of of there servicemen outpatient area. tell rather their growing a still paradigm board mine inpatient,

that radio, and have working ramp-up bit. figure time It I to advertising. we For a We to as to a get we're outpatient ramp bit focus and to of that branding to working but is, approaches there, does identify, – trying can that's and on – not I hard take, little categories little service up have providers. said, on and well, one think, with already shift try identify centers where our working for the this we

another it or the there Massachusetts, a a a – mentioned in did Charleston see suddenly the with And like and a snowfalls an in very not whatever with heavy to morning, it see thing hurt well, that to and coming, our that Vermont, really are do was as I in because weather. employees work week such to before, category. as remember nice somewhat row a using new of literally. brand did Sam week, season, and in and our us, Maine products a being accept how Our is did increases rate categories That's haven't pain and QX. Frankly, head end and the transports to be. they Two And icing and with we Northeast. to this some create New nearly get business got were whatever are radio awareness winter the product marketing closed Hampshire, had about expand really for area a kept to these mass the coming airport we closed (XX:XX:XX)? plan us. continues there, cancellations, for was four branding and QX, on, well it's working when I clients and environment that in they very well businesses are might long-term ended slammed South for unemployment, business establish coming our are for seen awful face with their disruptive town in up needed clients, of closed weather-related Charleston, our environment, businesses working to that and branding else beginning that's low for they're Carolina in to low for grow we for as closed factors markets excuses, the out especially on consider during we have other realities

Samuel D. Bush

a anything for with is the of. They're I is mean a Air pretty base the Navy big there out week military and Charleston almost able unheard and joint which with to of much Air the they were airport Force, less along in and commercial Command half, there, nothing. and a not fly

Edward K. Christian

a well, bit plus problem create hurricane did Yeah, the down little a of there. that

it's but the revenues occur. such roof and not Now we up when make as in generator to the that kick cancellations do service sales, repairs, weather happen alternate enough that conditions for have

place bit the of little to So, an inventory, well frankly in the ramp-up In a had in about is QX. do for inventory our put with Charleston, we anticipated. our and which Hilton new of of acquisition Head. The we markedly us commercial reduce conditions things limitations, Charleston element markets. limits the with value previous and And we longer strict and exceeded in we normative weather all experienced had than management for also in commercial was talking keeping

ag tariffs that weather and agribusiness. Another on the watching area impact and sector, have is we're can

radio stations. with I having we're year, this don't our see far So year changing. another this ag excellent

the on they tariffs year for could farming XX soybeans. for been Every profitable. affect years. especially and industry over in are how We Saga been now business cautious, the has has

principle to our and for see time to and try do tough It's analyze work. do disciplined have The of us true look for number We've our make sense We culture. been companies us. a formula buy to at We merger doing and our fit seems the buyer. to of they we that a individual to with take into And a if XX markets and consolidate they years. stayed them. bring being for not men properties

that. autonomous. are We We our have changing markets of management independent, they not do know but managers absolutely in our no championing independence and intention of

We to that radio and sales new staff put We'll these and selectively focus do daily I've positions movement look new in this continue a on mentioned opportunities grow for think before. and We I very treat believe our enterprise. insist simple development, they to compelling our forward good philosophy. well shape. us

growing. are not stopping We

and limit we have economy. basically pay We're of to like cash, radio referred part happen don't million. I industry. do something economy is powered dealing the jitterbug and that we We could. daily Sam be so nor And do which where to thing our saying of dependent point for some before, initially of the are keep that $XX would facing quickly it said into environment have that us things why this and Saga, the see a diligence, to the troubling. – bit we fits a We that as totaled are would upon company dividends our and economy, were sake dividends, up here. want if we manage some feeling that. just our the the to then not I've a we criteria, as it a it our really Like acquisitions, money puts to want as we're and using up the buy think we bring now, downside, we We and operate as far making life. could looking this economics to grow patient. move we because we country or in which fold. has the country it many Internally, not, little jitterbug wellbeing didn't at past or bring really we've it so our this Like in I times well Right we But one depressing with we are said and you

sound We have is and but our talk. that operate. of the And which I have the balance cheers, caution. and We're here, a our here, do. a shareholder, we excellence. it Saga is talk of radio. markets our some any is I And personally I'm and all for towards appreciate anybody available in future people in that's your And company employees always sincerely great we mostly we're industry work to you who's belief Sam to here, And and the about what on of thank are always here call we really for

love it. most think will I we well any do Did that. covered questions? pretty We And I've have of to

Samuel D. Bush

going them comments. few questions, answered think we I lot I a once have all between to what my did again a think questions We in were anticipated of and but yours be, the and we

Edward K. Christian

think states what told to some good And factor that in that where in that, we're you up just minutes, election and hopefully say doing. that continue one probably XX surprising for Sam, I also minutes states, we're minutes, we on doing thing are, I XX coming XX us you. or I'm I Other feeling we a could will at Ryan, but have back good we'll than year. it's be the

Operator

your gentlemen, you. Ladies Okay. it for and you participation. conclude does Thank you And conference. can Thank disconnect. today's

Saga Communications (SGA) 8 May 182018 Q1 Earnings call transcript