Beasley Broadcast Group Reports $42.6 Million Revenue in Q1 2026, Net Income Turnaround

Beasley Broadcast Group, Inc. reported a net revenue of $42.6 million for the first quarter of 2026, a decrease of 12.9% compared to $48.9 million in the same period of 2025. The decline in revenue was primarily attributed to a significant drop in audio revenue, which fell by 16.4% to $31.9 million, largely due to reduced local direct and agency revenue, as well as the sale of its radio stations in Fort Myers, Florida. In contrast, digital revenue remained relatively stable, totaling $10.7 million, a slight decrease of 0.5% from the previous year.

The company's operating expenses also decreased, totaling $42.2 million for the first quarter of 2026, down 6.8% from $45.2 million in the prior year. This reduction was driven by effective expense management and the impact of the aforementioned station dispositions. Notably, Beasley recorded a gain on asset dispositions of $12.5 million in the first quarter of 2026, compared to a gain of $1.7 million in the same quarter of 2025. This contributed to a turnaround in net income, which reached $3.2 million for the first quarter of 2026, compared to a net loss of $2.7 million in the prior year.

In terms of strategic developments, Beasley completed several significant asset sales in early 2026, including the sale of its Fort Myers radio stations for a total of $18 million. These transactions were part of a broader strategy to streamline operations and improve financial stability. Additionally, the company entered into a $35 million asset-based revolving credit facility on May 1, 2026, aimed at enhancing liquidity and supporting ongoing operational needs.

As of March 31, 2026, Beasley reported total assets of $281.5 million and total liabilities of $327.6 million, resulting in a stockholders' deficit of $46.1 million. The company had 973,170 shares of Class A common stock and 833,137 shares of Class B common stock outstanding. The effective tax rate for the quarter was 29%, down from 37% in the previous year, reflecting changes in state income taxes and non-deductible expenses.

Looking ahead, Beasley management expressed cautious optimism regarding the company's financial outlook, bolstered by recent strategic transactions and improved liquidity. However, they acknowledged ongoing challenges, including the need to navigate a competitive advertising landscape and the potential impact of economic conditions on revenue generation. The company remains focused on leveraging its multi-platform media capabilities to drive growth and enhance shareholder value.