secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001437749-24-014920
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gray Q1 net income $75M ($0.79 EPS), core ad +4% YoY; announces $250M debt buyback
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- Total revenue $823M (+3% YoY); core advertising $372M (+4% YoY) helped by Super Bowl on 54 CBS stations.
- Net income attributable to common $75M ($0.79 diluted EPS) vs loss of $44M ($0.48 loss) in Q1 2023.
- Adjusted EBITDA $197M (+21% YoY); leverage ratio 5.63x as of March 31, 2024.
- Board authorizes up to $250M to repurchase outstanding debt through Dec 31, 2025.
- Q2 guidance: political revenue +55-72% vs Q2 2020; full-year interest expense est. $440M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774924014920/0001437749-24-014920-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774924014920/gtn20240503_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-014920

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer