Beasley reported the company generated net revenue of approximately $67.4 million to $67.9 million in Q4, compared to $72.1 million in Q4 2019. The decrease is only about 6%. The company will report actual earnings in February.
CEO Caroline Beasley said, “We expect to report top-line revenue improvement in the second half of the year, with sequential quarter-over-quarter growth in both the third and fourth quarters of 2020. Our preliminary fourth quarter performance also demonstrates the significant operating benefits from the actions we took earlier this year to address the pandemic, including reducing station operating expenses and negotiating discounts with landlords, service providers and partners. Although it is difficult to predict what the impact of COVID-19 will be in the coming months, we remain optimistic that the commercial advertising market will return to more normalized revenue levels as we move further into the year, following broad vaccine distribution.”