Gray TV

Gray Television, Inc. is a television broadcasting company, which engages in owning and operating television stations and digital assets in markets throughout the United States. It operates through the following segments: Broadcasting, and Production Companies. The Broadcasting segment operates television stations located across local markets in the United States. The firm's segment includes the production of television and event content. The company was founded in January 1897 and is headquartered in Atlanta, GA.

Earnings data Q1 2021

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Earnings data Q3 2023

Earnings data Q4 2023

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Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Gray TV reports record revenue in Q4 2022 earnings call

Gray TV's strong financial performance in Q4 2022 and strategic focus on reducing leverage position the company well for future growth.
Stable subscriber counts and expectations of revenue growth from various sources indicate resilience and adaptability in a changing TV landscape.
Challenges in subscriber declines and macroeconomic uncertainties are being addressed through strategic initiatives and cautious evaluation of projects.

Gray TV surpasses revenue targets, eyes growth in local markets

Gray Television's Q1 2023 performance exceeded expectations, with strong revenue and optimistic outlook for core revenue growth.
The company's focus on local news content, strategic agreements, and infrastructure development position it well for future opportunities.
Challenges in personnel recruitment and financial uncertainties are areas of concern that Gray TV aims to address.
Overall, Gray Television's resilience, market relevance, and strategic initiatives bode well for its future growth and value creation.

Gray TV beats estimates, eyes political revenue, and strategic growth

Gray TV's Q2 2023 earnings call showcased strong financial performance, strategic partnerships, and industry recognition. While facing challenges related to political revenue uncertainties and industry disruptions, the company remains focused on deleveraging and exploring growth opportunities. With a solid foundation in core advertising and retransmission revenue, Gray TV is poised for continued success in the evolving media landscape.

Gray TV reports strong Q3 growth, eyes political ad revenue

Gray Television (GTN) showcased robust performance in core, retransmission, and political revenue, with a positive outlook on Assembly Studios' revenue potential.
The company's strengths lie in core advertising success, Assembly Studios' value, and debt-free financing, while facing challenges in sports deals and Charter Disney impacts.
Opportunities include increased political ad revenue, digital platform growth, and next-gen technology rollout, positioning Gray TV for continued success.

Gray TV reports strong 2023 revenue growth, eyes deleveraging and growth opportunities in 2024

Gray Television's 2023 performance showcased strong revenue growth and successful initiatives in advertising and content. Despite a net loss in Q4 '23, the company remains optimistic about its outlook for 2024, focusing on deleveraging and seizing growth opportunities.

Gray TV (GTN) reports robust Q1 earnings, eyes growth opportunities

Gray TV (GTN) delivered strong Q1 results, focusing on revenue diversification, financial stability, and debt reduction for long-term sustainability.
Despite challenges like political advertising displacement and delayed project revenues, the company is well-positioned to capitalize on growth opportunities.
Strategic partnerships, content quality recognition, and technological advancements present avenues for revenue growth and market competitiveness.
A prudent financial strategy, commitment to deleveraging, and focus on local market strengths underpin Gray Television's resilience in a dynamic industry landscape.

Gray TV (GTN) reports stellar Q3 results amidst ad revenue challenges

Gray TV's Q3 2024 performance reflects robust revenue growth, improved profitability, and efficient cost management, showcasing the company's financial strength and strategic focus.
While facing challenges in core ad revenue and political ad revenue, Gray TV's emphasis on debt reduction, operational excellence, and market diversification positions it well for future growth.
By addressing challenges, capitalizing on strengths, and seizing opportunities, Gray TV can navigate industry dynamics, enhance shareholder value, and sustain its competitive edge in the media landscape.

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ATLANTA, June 04, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray” or the “Company”) (NYSE: GTN) announced today that it has closed a refinancing of its $1.15 billion term loan due in 2026 and upsizing of its revolving credit facility.

Gray Announces Closing of Term Loan and Revolving Credit Facility Refinancing

ATLANTA, June 04, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today the early tender results of its previously announced offer to purchase for cash (the “Tender Offer”) any and all of its outstanding 5.875% Senior Notes due 2026 (the “Notes”), subject to certain terms and conditions set forth in the Offer to Purchase dated May 20, 2024 (the “Offer to Purchase”).

Gray Television Announces Early Tender Results of Its Cash Tender Offer for Its 5.875% Senior Notes Due 2026

ATLANTA, June 03, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that the Radio Television Digital News Association (RTDNA) awarded a combined 78 regional Edward R. Murrow awards for excellence in journalism to 35 of Gray's local stations, led by nine separate awards to WVUE in New Orleans, Louisiana, and six to Hawaii News Now in Honolulu, Hawaii. Among the highest honors:

RTNDA Awards 78 Regional Edward R. Murrow Awards to 35 Gray Television Stations

Netflix

Investors interested in Broadcast Radio and Television stocks are likely familiar with Gray Television (GTN) and Netflix (NFLX). But which of these two stocks offers value investors a better bang for their buck right now?

GTN vs. NFLX: Which Stock Is the Better Value Option?

Atlanta, June 03, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that it has completed its previously announced offering of $1.25 billion aggregate principal amount of 10.500% senior secured first lien notes due 2029 (the “Notes”). The Notes were issued at par.

Gray Announces Closing of Offering of $1.25 Billion of 10.500% Senior Secured First Lien Notes due 2029

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The P/B ratio helps to identify low-priced stocks with high growth prospects. KB Home (KBH), Qifu Technology (QFIN), The ODP Corporation (ODP), Tri Pointe Homes (TPH) and Gray Television (GTN) are some such stocks.

Buy These 5 Low Price-to-Book Value Stocks in June

ATLANTA, May 30, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) today announced that Greg Connor will join Gray as the next General Manager of WRDW (CBS) and WAGT (NBC) in Augusta, Georgia, on June 3, 2024. He will succeed Mike Oates, who is retiring after 33 years at the stations, including the last 7 years as General Manager.

Gray Names Greg Connor as General Manager of WRDW and WAGT in Augusta, Georgia

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Value investing is essentially about selecting stocks that are usually cheap but fundamentally sound. GTN, ODP, PSFE & QFIN boast a low P/CF ratio.

4 Low Price-to-Cash Flow Stocks to Pick for Optimum Returns

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.

Should You Invest in Gray Television (GTN) Based on Bullish Wall Street Views?

ATLANTA, May 23, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today the pricing of its previously announced private offering of $1.25 billion aggregate principal amount of 10.500% senior secured first lien notes due 2029 (the “Notes”). This represents an increase of $250 million over the amount previously announced. The Notes were priced at 100% of par. The offering of the Notes is expected to close on June 3, 2024, subject to customary closing conditions and the closing of the refinancing of its senior credit facility.

Gray Announces Upsizing and Pricing of $1.25 Billion of 10.500% Senior Secured First Lien Notes due 2029

E. W. Scripps

Radio and television broadcast companies like NFLX, GTN and SSP benefit from higher content consumption and steady digital viewing despite intense competition for ad revenues.

3 Broadcast Radio & TV Stocks to Buy From a Prospering Industry

The consensus price target hints at a 102% upside potential for Gray Television (GTN). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts See a 101.98% Upside in Gray Television (GTN): Can the Stock Really Move This High?

Gray Television (GTN) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Gray Television (GTN) Shows Fast-paced Momentum But Is Still a Bargain Stock

ATLANTA, May 20, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” the “Company,” “we,” or “our”) (NYSE: GTN) announced today the commencement of an offer to purchase for cash (the “Tender Offer”), subject to certain terms and conditions, any and all of its outstanding 5.875% Senior Notes due 2026 (the “Notes”).

Gray Television Commences Cash Tender Offer for Its 5.875% Senior Notes Due 2026

ATLANTA, May 20, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) announced today that it intends to offer up to $1 billion aggregate principal amount of senior secured first lien notes due 2029, subject to market conditions. The offering will be exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).

Gray Announces Private Offering of Senior Secured Notes

Investors interested in Broadcast Radio and Television stocks are likely familiar with Gray Television (GTN) and Netflix (NFLX). But which of these two stocks presents investors with the better value opportunity right now?

GTN vs. NFLX: Which Stock Should Value Investors Buy Now?

General Motors

The P/B ratio helps to identify low-priced stocks with high growth prospects. General Motors Company (GM), Qifu Technology (QFIN), The ODP Corporation (ODP), Tri Pointe Homes (TPH) and Gray Television (GTN) are some such stocks.

5 Valuable Price-to-Book Stocks to Add to Your Portfolio

ATLANTA, May 15, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” the “Company,” “we,” or “our”) (NYSE: GTN) announced today the commencement of a refinancing process for its existing $1.15 billion term loan due 2026 and up to $450 million of its 5.875% senior notes due 2026, with the goal of extending a significant portion of its near-term debt maturities.   Overall, the Company is targeting refinancing that outstanding debt with approximately $750 million of new senior secured term loans maturing in 2029 and approximately $750 million of additional senior secured debt, together with cash on hand and borrowings of approximately $100 million under its revolving credit facility due 2027.

Gray Television Announces Commencement of Proposed $1.6 Billion Refinancing Process and a Further Increase to its Revolving Credit Facility

Value investing is essentially about selecting stocks that are usually cheap but fundamentally sound. KBH, GTN, ODP & GM boast low P/CF ratios.

4 Stocks With Low Price-to-Cash Flow Ratio to Buy Now

ATLANTA, May 13, 2024 (GLOBE NEWSWIRE) -- Gray Television Inc. (“Gray”) (NYSE: GTN) is pleased to announce an agreement to bring select American Association of Professional Baseball (AAPB) games to free, over-the-air local television stations in multiple Midwestern markets and across three of Gray's local sports networks: Arizona Family Sports in Arizona, Peachtree Sports Network in Georgia, and Silver State Sports and Entertainment Network in Nevada. The AAPB is a Professional Partner League of Major League Baseball.

Gray Television Partners with American Association of Professional Baseball to Bring Summer Baseball to Viewers Free Over-The-Air

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GTN, NX and BRFS made it to the Zacks Rank #1 (Strong Buy) value stocks list on May 8, 2024.

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GTN, LXFR and CHRW made it to the Zacks Rank #1 (Strong Buy) income stocks list on May 8, 2024.

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BRFS, GPS, GTN, HIMS and SIGA have been added to the Zacks Rank #1 (Strong Buy) List on May 8, 2024.

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Gray Television, Inc. (NYSE:GTN ) Q1 2024 Earnings Conference Call May 7, 2024 10:00 AM ET Company Participants Hilton Howell - Chairman and CEO Kevin Latek - Chief Legal and Development Officer Jim Ryan - CFO Pat LaPlatney - President and Co-CEO Sandy Breland - Chief Operating Officer Jeff Gignac - EVP, Finance Conference Call Participants Daniel Kurnos - Benchmark Aaron Watts - Deutsche Bank Steven Cahall - Wells Fargo Craig Huber - Huber Research Jim Goss - Barrington Research John Kornreich - JK Media Davis Hebert - Wells Fargo Securities Michael Kupinski - Noble Financial Capital Markets Operator Good morning, ladies and gentlemen, and welcome to the Gray Television Q1 2024 Earnings Call. [Operator Instructions] And without further ado, I will now turn the program over to Executive Chairman and CEO, Hilton Howell Jr. Hilton Howell Thank you, operator.

Gray Television, Inc. (GTN) Q1 2024 Earnings Call Transcript

ATLANTA, May 07, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) today announced financial results for the first quarter ended March 31, 2024, reflecting our total revenue of $823 million and total operating expenses (before depreciation, amortization and loss on disposal of assets) of $632 million.

Gray's Operating Results for the First Quarter Driven by Continued Strong Demand and Execution; Gray Announces New $250 Million Debt Repurchase Authorization

News for Gray TV Stock (GTN)