8-K
filed February 24, 2023, 6:59 PM ET
ticker GTN
CIK 0000043196
earnings
confidence high
sentiment positive
materiality 0.80
Gray Television reports record Q4 revenue $1.07B, net income $173M; enters $300M securitization facility
GRAY MEDIA, INC
2022-FY EPS reported
$4.33
revenue$3,676,000,000
- Q4 total revenue $1.072B (+49% YoY); net income attributable to common $173M ($1.88 diluted EPS), up 981% YoY.
- Full-year 2022 total revenue $3.676B (+52% YoY); net income $403M (+961% YoY); political ad revenue $515M.
- New $300M accounts receivable securitization facility (Feb 23) to repay $295M Term Loan B on March 1, 2023.
- Entered interest rate caps on ~$2.6B notional through 2024, capping LIBOR at 5% plus margin; $32M fee due Dec 2025.
- Q1 2023 guidance: total revenue $777M-$796M, core revenue $350M-$360M, retransmission $387M-$393M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
GRAY MEDIA, INC reported Fourth quarter ended December 31, 2022 results: revenue $1.1 billion, net income $173 million, EPS $1.88.
- Period
- Fourth quarter ended December 31, 2022
- Revenue
- $1.1 billion
- Net income
- $173 million
- EPS
- $1.88
- Result
- reported results
Exact text from the filing
For the fourth quarter of 2022: ● Total revenue was $1.1 billion, an increase of 49% from the fourth quarter of 2021, primarily due to the cyclical increase in political advertising revenue. ● Core Advertising Revenue was $406 million, an increase of 13% from the fourth quarter of 2021. ● Net income attributable to common stockholders was $173 million, or $1.88 per fully diluted share, an increase of 981% from the fourth quarter of 2021.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
GRAY MEDIA, INC reported Year ended December 31, 2022 results: revenue $3.7 billion, net income $403 million.
- Period
- Year ended December 31, 2022
- Revenue
- $3.7 billion
- Net income
- $403 million
- Result
- reported results
Exact text from the filing
For the full year of 2022: ● Total revenue was $3.7 billion, an increase of 52% from 2021, marking our highest ever annual revenue. ● Core Advertising Revenue was $1.5 billion, an increase of 26% from 2021. ● Net income attributable to common stockholders was $403 million, an increase of 961% from 2021. ● Broadcast Cash Flow was $1.4 billion, an increase of 77% from 2021.
View on SEC.gov
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