Boston Omaha, the public parent of Link Media Outdoor released second quarter 2020 financials. Here are the results of the second quarter 2020 earnings release. We’ve broken out Link Media’s performance below.
Link Media Outdoor Performance for Second Quarter 2020 (000’s)
- Link Media Outdoor revenues declined 7% to $6.7 million in the second quarter of 2020 as decreased revenues from covid offset increased revenues from the acquistion of Image Media in the third quarter of 2019.
- Lease costs increased by 1% to $1.5 million but remain a reasonable 23% of revenue.
- Commissions declined by 3% to $626,000 and are 9% of revenues.
- Link Media Cashflow (segment income or loss plus depreciation and amortization) declined by 20% to $1.5 million for the second quarter of 202o.
- Capital expenditures declined from $551,596 during the second quarter of 2019 to $118,000 during the second quarter of 2020. Link Media had 3,000 billboards with 5,600 faces across 11 states at June 2020.
- Link Media has $18 million drawn on a $40 million bank credit facility. Link’s parent Boston Omaha has $169 million in cash and marketable securities to support acquisitions.
Insider’s take: Not bad results given covid. Link Media’s CEO Scott Lafoy will talk about the company’s appetite for acquisitions on Wednesday’s Billboard Insider podcast.
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