Gray Television Q2 net loss $9M; core ad revenue +4% YoY; Q3 guidance issued

GRAY MEDIA, INC

2023-Q2 EPS reported -$0.58 revenue$1,614,000,000

Total revenue $813M, down 6% YoY; net loss attributable to common stockholders $9M ($0.10/sh) vs profit $86M in Q2 2022.
Core advertising revenue $379M, +4% YoY; retransmission revenue $394M, +3% YoY; broadcast cash flow $251M, -23% YoY.
Q3 2023 guidance: total revenue $780M-$801M; core ad $360-368M; retrans $370-380M; political $15-16M.
Q3 expects pre-tax non-cash impairment charge of $33M-$43M in production segment due to Diamond Sports/ACC contract rejection and new CW deal.
CBS network affiliation renewed for 54 markets in June 2023.

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 updated its the three and six-month periods ended June 30, 2023 guidance (reaffirmed).

Period: the three and six-month periods ended June 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On August 4, 2023, Gray Television, Inc. issued a press release reporting its financial results for the three and six-month periods ended June 30, 2023.

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Source: SEC EDGAR

accession 0001437749-23-022031

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