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Gray Television (GTN)
NYSE:GTN
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Earnings Data
Report Date
Feb 21, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.21Last Year’s EPS
-$0.24Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2024
|% Change Since: -47.28%
|Next Earnings Date:Feb 21, 2025
Earnings Call Sentiment|Positive
Gray Media achieved significant revenue and EBITDA growth, along with notable debt reduction and digital ad sales success. However, challenges in political ad revenue, core ad revenue projections, and external factors like hurricanes and sub losses present concerns.Company Guidance
During the Gray Media Q3 2024 earnings call, the company provided significant guidance regarding their financial performance and strategic priorities. Total revenue for the third quarter was reported at $950 million, marking an 18% increase from the same period in 2023, driven by political advertising revenue. However, political ad revenue at $173 million was slightly below the guidance range. Net income attributable to common shareholders rose to $83 million, compared to a net loss of $53 million in Q3 2023. Adjusted EBITDA saw a substantial increase of 61% year-over-year, reaching $338 million. The company's leverage ratio was reported at 5.67 to 1, following a $250 million debt repayment in Q3, with plans to repay a total of $0.5 billion by year-end. Despite some political displacement, core ad revenue grew by 1% to $365 million. The company plans to reduce operating expenses by approximately $60 million annually and aims to continue focusing on debt reduction as a top capital allocation priority. Looking ahead, Gray Media expects to capture approximately $0.5 billion in political revenue for the full year 2024, reinforcing their position as a leading recipient of political ad dollars in the television broadcasting sector.Record Revenue Growth
Total revenue in Q3 was $950 million, an increase of 18% from Q3 2023, driven by political advertising revenue.
Significant Net Income Improvement
Net income attributable to common shareholders was $83 million in Q3 compared to a net loss of $53 million in Q3 2023.
Strong Adjusted EBITDA Growth
Adjusted EBITDA increased by 61% to $338 million in Q3 2024 compared to Q3 2023.
Debt Reduction Efforts
Gray Media reduced its outstanding debt principal balance by $246 million in Q3 and plans to reduce total net debt by approximately $500 million by year-end.
Digital Ad Sales Growth
Digital ad sales are experiencing double-digit growth rates, with 22 markets exceeding $1 million in digital ad sales in Q3.
Journalism Excellence Awards
Gray Media received 8 national Edward Murrow Awards for excellence in journalism.
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GTN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GTN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 08, 2024 | $5.67 | $4.19 | -26.10% |
| Aug 08, 2024 | $5.06 | $4.32 | -14.62% |
| May 07, 2024 | $6.31 | $6.35 | +0.63% |
| Feb 23, 2024 | $7.43 | $5.74 | -22.75% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Gray Television (GTN) report earnings?
Gray Television (GTN) is schdueled to report earning on Feb 21, 2025, TBA Not Confirmed.
What is Gray Television (GTN) earnings time?
Gray Television (GTN) earnings time is at Feb 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GTN EPS forecast?
GTN EPS forecast for the fiscal quarter 2024 (Q4) is $1.21.
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