---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-025932"
form_type: "8-K"
ticker: "GTN"
cik: "0000043196"
company_name: "GRAY MEDIA, INC"
filed_at: "2022-11-04T23:59:59+00:00"
generated_at: "2026-06-22T07:20:53.348863+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-22-025932
- form_type: 8-K
- ticker: GTN
- cik: 0000043196
- company_name: GRAY MEDIA, INC
- filed_at: 2022-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/43196/000143774922025932/0001437749-22-025932-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/43196/000143774922025932/gtn20221102_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-025932
- JSON: https://secwatch.observer/filing/0001437749-22-025932.json
- Plain text: https://secwatch.observer/filing/0001437749-22-025932.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/43196/000143774922025932/0001437749-22-025932-index.htm

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