Gray TV Q4 revenue $864M, net loss $22M; Q1 guidance strong; CFO succession plan

GRAY MEDIA, INC

2023-FY EPS reported -$1.39 revenue$3,281,000,000

Q4 total revenue $864M, down 19% YoY due to political comp, but up 20% vs 2021; core ad +2% YoY; net loss $22M ($0.24/share).
Q1 2024 guidance: total revenue $810-830M, core ad $365-375M (low-mid single digit growth), retrans $375-380M, political $30-33M.
CFO Jim Ryan to retire after 2025; Jeff Gignac hired as EVP Finance Apr 1, 2024, to become CFO Jul 1, 2024.
BMI sale closed Feb 8, 2024, net $110M pre-tax; $50M used to pay down revolver; credit facility upsized to $625M.
NBCUniversal began lease at Assembly Studios; $52M capex expected in 2024 for studio complex; $31M in incentive payments.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GRAY MEDIA, INC reported the fourth quarter ended December 31, 2023 results: revenue $864 million, net income $22 million, EPS $0.24 per share.

Period: the fourth quarter ended December 31, 2023
Revenue: $864 million
Net income: $22 million
EPS: $0.24 per share
Result: reported results

Exact text from the filing

Inc. ( “ Gray, ” “ we, ” “ us ” or “ our ” ) (NYSE: GTN) today announced strong financial results for the fourth quarter ended December 31, 2023, including total revenue of $864 million, which was in-line with the high end of our revenue guidance and total operating expenses (before depreciation, amortization, impairment and loss on disposal of assets) of $664

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Source: SEC EDGAR

accession 0001437749-24-005289

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