Saga Same-Station Q1 Revenue Flat

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On a same-station basis for the first quarter of 2018, Saga’s net revenue increased 0.3% to $26.2 million. CEO Ed Christian said both the automotive and medical categories were disappointing in the quarter. He said three months ago he felt was queasy about Q1 but “we were able to move the needle up a little.”

Regarding the medical category, Christian said his friends in that industry are telling him there is a fear that the growth of outpatient facilities who have an impact on hospitals resulting in fewer patients for them. Christian said several hospitals are reducing their workforces in anticipation of this shift.

Saga CEO Ed Christian

Weather hurt Saga in Q1 with four heavy snowstorms in the northeast causing businesses to close and advertising campaigns canceled.

Christian did signal that Saga was still interested in growing (Saga owns 108 stations in 26 markets) but will continue to be prudent as they look at opportunities and will not buy stations just for the sake of buying stations. Christian said Saga has been in business for over 30 years and has been profitable every year.

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