Saga Communications, Inc. (Nasdaq: SGA) reported its financial results for the three and nine months ended September 30, 2026, in a press release dated November 12, 2026. The company reported a decrease in net revenue for the third quarter of 2026, which fell 5.4% to $26.7 million compared to $28.2 million in the same period last year.
For the quarter, the company recorded an operating loss of $9.8 million, a significant deterioration from an operating loss of $626 thousand in the prior year. This loss was primarily driven by a non-cash impairment charge of $9.2 million related to the evaluation of FCC license values. The impairment was attributed to rising interest rates, which increased the discount rate used in fair value calculations, as well as decreases in operating margins and market revenue projections.
Without the non-cash impairment charge, the company’s operating loss would have been $563 thousand. In the nine-month period ended September 30, 2026, net revenue decreased 5.8% to $75.9 million, and the company reported a net loss of $8.5 million, or $1.34 per fully diluted share.
Regarding capital allocation, the company’s Board of Directors declared a quarterly cash dividend of $0.25 per share on its Class A Common Stock. This dividend will be paid on December 11, 2026, to shareholders of record on November 23, 2026. The aggregate payment is expected to be approximately $1.6 million. The company noted that this brings the total dividends paid to shareholders since 2012 to over $148 million.
On the balance sheet, the company reported cash and short-term investments of $23.5 million as of September 30, 2026. The company also noted $1.2 million in gross political revenue for the third quarter of 2026, with approximately $3.6 million of gross political revenue sold for the fourth quarter.
