---
schema_version: "secwatch.filing_event.v1"
accession: "0000104889-23-000063"
form_type: "8-K"
ticker: "GHC"
cik: "0000104889"
company_name: "Graham Holdings Co"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T01:55:11.716398+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.82
calibrated_materiality_score: 0.82
confidence: "high"
source: SEC EDGAR
---

# Graham Holdings posts Q3 net loss of $23M; impairments hit operating income

## Summary
- Q3 GAAP net loss of $23.0M ($5.02/share) vs. net income of $32.8M ($6.76/share) a year ago; adjusted net income of $48.9M ($10.45/share).
- Revenue rose 10% to $1,111.5M, driven by education (+16%), healthcare (+33%), and automotive (+29%), partly offset by TV broadcasting (-14%).
- Operating loss of $57.1M vs. operating income of $59.5M; includes $98.3M goodwill/asset impairment charges ($84.4M after-tax).
- Education (Kaplan) operating income up 60% to $29.9M; TV broadcasting operating income down 39% to $31.9M; manufacturing includes $47.8M Dekko impairment.
- Acquired a Toyota dealership in Henrico, VA on Sep 27, 2023; restructuring Leaf Group into three standalone businesses ongoing.

## SEC filing metadata
- accession: 0000104889-23-000063
- form_type: 8-K
- ticker: GHC
- cik: 0000104889
- company_name: Graham Holdings Co
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.82
- calibrated_materiality_score: 0.82
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/104889/000010488923000063/0000104889-23-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/104889/000010488923000063/ghc-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000104889-23-000063
- JSON: https://secwatch.observer/filing/0000104889-23-000063.json
- Plain text: https://secwatch.observer/filing/0000104889-23-000063.txt

## Key facts
- Earnings Releases
  Graham Holdings Co reported the third quarter ended September 30, 2023 results: revenue $1,111.5 million, net income net loss attributable to common shares of $23.0 million ($5.02 per share), EPS $5.02 per share.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $1,111.5 million
  - Net income: net loss attributable to common shares of $23.0 million ($5.02 per share)
  - EPS: $5.02 per share
  - Result: reported results
  source text: to adjust the fair value of the mandatorily redeemable noncontrolling interest (after-tax impact of $1.3 million, or $0.28 per share). Revenue for the third quarter of 2023 was $1,111.5 million, up 10% from $1,012.4 million in the third quarter of 2022. Revenues increased at education, healthcare and automotive, partially offset by declines at television broadcasting,
  evidence_url: https://www.sec.gov/Archives/edgar/data/104889/000010488923000063/0000104889-23-000063-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.