Gray Media Q1 revenue $768M at high end of guidance; core ad up 2% YoY; net loss widens to $20M

GRAY MEDIA, INC

2026-Q1 EPS reported -$0.34 revenue$768,000,000

Core advertising revenue $352M, +2% YoY, exceeding guidance of flat; political revenue $30M (high end of $25-30M).
Net retransmission revenue $142M, -3% YoY; retrans consent $339M, -11% due to subscriber declines and distribution dispute.
Net loss $20M vs $9M loss in Q1 2025; Adjusted EBITDA $154M, down 4% from $160M.
Q2 2026 guidance: total revenue $780-800M, political $60-70M (vs $9M in Q2 2025), core down mid-single digits.
Closed acquisitions of TV stations: $115M from Allen Media (May 1) and $80M from Block Communications (May 6).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GRAY MEDIA, INC reported financial results for first quarter that ended March 31, 2026.

Period: first quarter that ended March 31, 2026
Result: reported results

Exact text from the filing

On May 7, 2026, Gray Media, Inc. issued a press release reporting its financial results for the three-months March 31, 2026.

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Source: SEC EDGAR

accession 0001437749-26-015344

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