---
schema_version: "secwatch.filing_event.v1"
accession: "0000104889-25-000033"
form_type: "8-K"
ticker: "GHC"
cik: "0000104889"
company_name: "Graham Holdings Co"
filed_at: "2025-04-30T23:59:59+00:00"
generated_at: "2026-05-23T01:53:28.526410+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Graham Holdings Q1 net income $23.9M ($5.45/share) down 81% YoY; adjusted EPS $11.64 vs $11.24

## Summary
- Revenue $1.1659B (+1% YoY); operating income $47.5M vs $35.4M.
- GAAP net income fell to $23.9M from $124.4M, mainly due to lower securities gains ($43.8M vs $104.2M) and a $66.4M noncontrolling interest adjustment.
- Adjusted net income $51M ($11.64/share) vs $50.4M ($11.24/share) — relatively flat.
- Agreed to settle $205M of mandatorily redeemable noncontrolling interest at CSI Pharmacy: $186.25M cash plus $18.75M stock.
- Debt $864.6M at 6.0% avg rate; cash & investments $1,114.7M; repurchased 3,978 shares for $3.5M.

## SEC filing metadata
- accession: 0000104889-25-000033
- form_type: 8-K
- ticker: GHC
- cik: 0000104889
- company_name: Graham Holdings Co
- filed_at: 2025-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/104889/000010488925000033/0000104889-25-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/104889/000010488925000033/ghc-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000104889-25-000033
- JSON: https://secwatch.observer/filing/0000104889-25-000033.json
- Plain text: https://secwatch.observer/filing/0000104889-25-000033.txt

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