GTN
Gray Media, Inc.5.21
+0.08+1.56%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
583.24MP/E (TTM)
12.12Basic EPS (TTM)
0.43Dividend Yield
0.06%Recent Filings
8-K
8-K
10-Q
Q3 FY2025 results
Gray Media's Q3 revenue fell 21% year-over-year to $749 million, driven by a 95% drop in political ads to $8 million amid the off-year cycle, while core advertising dipped 3% to $355 million and retransmission consent eased 6% to $346 million; yet operating income held at $102 million, down from $250 million, thanks to 5% lower broadcasting expenses from reduced network fees and staffing. The nine-month tally shows revenue off 11% to $2.3 billion with a $75 million net loss, versus $206 million profit last year, as political spending waned 88% and a $28 million intangible impairment hit. Cash climbed to $182 million, with free cash flow of $112 million derived from $177 million operating cash minus $65 million capex; debt stands at $5.7 billion after issuing $900 million 9.625% notes due 2032 and $775 million 7.25% notes due 2033 to refinance shorter-term obligations, leaving $742 million revolver availability. Pending station deals with Scripps, SGH, BCI, and AMG—totaling $253 million cash plus swaps—aim to add six markets and 11 duopolies, but regulatory hurdles loom. Competition from streaming erodes ad dollars.
8-K
Gray declares $0.08 dividend
Gray Media's board authorized a quarterly cash dividend of $0.08 per share on November 7, 2025, payable December 31 to shareholders of record on December 15. This steady payout underscores confidence in cash flows amid a competitive media landscape. Dividends aren't guaranteed. Forward-looking statements highlight risks to future payments.
8-K
Gray beats Q3 guidance
Gray Media reported Q3 2025 revenue of $749 million, hitting the high end of guidance despite a 21% drop from last year's $950 million, driven by lower political ads and the WANF transition to independent status. Expenses fell 5% to $542 million through cost controls, yielding $162 million Adjusted EBITDA. Key moves included debt refinancings extending maturities to 2033 and boosting revolver availability to $750 million, plus deals to acquire stations for $253 million total, creating 11 new duopolies and entering six markets. Regulatory approvals remain pending. These steps enhance market reach but hinge on closing.
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