secwatch.observer — SEC 8-K summary
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Issuer:     Graham Holdings Co (GHC)
CIK:        0000104889
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0000104889-23-000063
Event type: earnings
Sentiment:  negative
Materiality: 0.82
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/104889/000010488923000063/0000104889-23-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/104889/000010488923000063/ghc-20231101.htm
  HTML page:      https://secwatch.observer/filing/0000104889-23-000063

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