Gray Television Q3 revenue $909M (+51%), EPS $1.03; political ad $144M below guidance

GRAY MEDIA, INC

2022-Q3 EPS reported $2.47 revenue$2,604,000,000

Net income attributable to common stockholders $95M ($1.03 diluted EPS) vs. loss of $30M in Q3 2021.
Political advertising revenue $144M (+1500% YoY) fell short of August guidance; full-year forecast $495-505M.
Core advertising $359M (+23% As-Reported, -3% Combined Historical Basis due to political displacement).
Returned $124M to shareholders: $100M debt prepayment and $20M dividends; additional $100M prepayment Nov 1.
Q4 guidance: total revenue $1.017-1.049B, core ad $385-400M, political $235-245M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GRAY MEDIA, INC reported three-months and nine-months ended September 30, 2022 results: revenue $909 million, net income $95 million, EPS $1.03 per fully diluted share. Guidance reaffirmed.

Period: three-months and nine-months ended September 30, 2022
Revenue: $909 million
Net income: $95 million
EPS: $1.03 per fully diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

a 417% increase in net income attributable to common stockholders, compared to the third quarter of 2021. Overall, the third quarter of 2022 produced record results, including $909 million in total revenue, due to the combination of recent acquisitions, added scale, increasingly efficient integrated operations, and the “on-year” of the two-year political

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Source: SEC EDGAR

accession 0001437749-22-025932

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