Friday, August 05, 2022
Salem Media Group (SALM)
2000 Mules Boost Quarterly Results
Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overachieves Q2 estimates. While total company revenues of $68.7 million were in line with our $68.8 million estimate, adj. EBITDA overachieved estimates, $11.7 million versus our $7.3 million estimate. Adj. EBITDA, which increased 33%, benefited from a $3.3 million revenue share from the successful movie launch of 2000 Mules.
Political advertising off the charts. The company generated $1.5 million in Political advertising in the latest quarter, far outpacing its highest Political year in 2020. …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
