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

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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

The mean of analysts' price targets for Gray Television (GTN) points to a 132.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Think Gray Television (GTN) Could Surge 132.92%: Read This Before Placing a Bet

Gray Television (GTN) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes Gray Television (GTN) a New Buy Stock

Gray Television (GTN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Gray Television (GTN) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

LOUISVILLE, Ky., April 29, 2024 (GLOBE NEWSWIRE) -- With Derby Week kicking off in Louisville, Kentucky, Gray Television, Inc. (NYSE: GTN) (“Gray”) is proud to announce several key initiatives to advance the NEXTGEN TV transition and bring more of the benefits of this new standard to viewers in Gray's local communities. Among many other consumer benefits, NEXTGEN allows broadcasters to deliver superior picture quality and immersive sound, and Gray is increasing its efforts to roll out these features for viewers.

GRAY TELEVISION ROLLING OUT ADVANCED FEATURES WITH NEXTGEN TV

ATLANTA, April 18, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray” or the “Company”) (NYSE: GTN) announced today that its daily, 30-minute news magazine InvestigateTV+ is renewed for a second season in 2024-2025. The renewal is the direct result of impressive, double-digit ratings growth in the show's debut season.   InvestigateTV+ built audience throughout its first season with an average of 25% growth with Adults 18+ across all Gray markets since its launch in September 2023 (Source: Nielsen).

Gray Renews InvestigateTV+ For 2024-2025 Season

ATLANTA, April 09, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE: GTN) today announced that it will release its earnings results for the quarter ended, March 31, 2024 on Tuesday, May 7, 2024.

GRAY SETS DATE FOR FIRST QUARTER EARNINGS RELEASE AND EARNINGS CONFERENCE CALL

Atlanta, Georgia, April 05, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray” or the “Company”) (NYSE: GTN) announced today that it has completed a series of debt principal payments totaling $53.75 million.

Gray Announces Paydown of Debt

ATLANTA, April 04, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today the promotion of Peter Zampa to Senior National Correspondent for the Gray Television Washington News Bureau.   In his new role, Peter will be based in New York City covering the local impact of national and international stories for Gray affiliates, including Wall Street and the United Nations.   He will also provide unique analysis for Local News Live, Gray's streaming network that provides live news coverage on more than 500 Gray station websites, connected TV apps, and mobile apps.

Gray Promotes Peter Zampa to Senior National Correspondent

ATLANTA, April 03, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that Local News Live, a streaming news network that provides live news coverage from Gray's 114 television markets and Washington DC Bureau, and Gray stations will stream continuous live coverage of the total solar eclipse on April 8th.   The programming will be available as a live stream on more than 500 Gray Television station websites, connected TV apps, and mobile apps. Gray stations in the path of totality will also provide complete local coverage to their communities on every screen.

Local News Live and Gray Stations to Stream Continuous Live Eclipse Coverage

ATLANTA, April 02, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that CBS has retained Gray's in-house news research and consulting group, Strategic Insights & Activation Team (“Strat Team”), as a provider of market research and news consulting services to all 14 CBS owned and operated television stations.   The first-of-its-kind partnership began on April 1, 2024.

Gray to Provide Research and Consulting Services to CBS Owned and Operated Television Stations

Gray Television is the second largest local television broadcaster in the US, with stations in 114 markets. My speculative buy thesis is based on America's increasing political divide and the potential for record-high political ad spending in the 2024 election cycle. Provided we get a normal ad cycle, GTN should be able to generate hundreds of millions in free cash flow that can go towards reducing debt and improving equity valuations.

Gray Television: Tune In To The Main Event

NEW YORK, April 02, 2024 (GLOBE NEWSWIRE) -- Gray Television Inc. “Gray” (NYSE: GTN) is pleased to announce that Gray's Emmy Award-winning Tupelo Media Group and Las Vegas station KVVU have teamed with SportsGrid FAST Channel to produce five major sporting event specials.  The specials will be part of the “ BEAT THE ODDS ” nationally syndicated sports betting and entertainment television series produced by Tupelo Media Group and KVVU.  The specials begin this weekend for college basketball and will also air on dozens of Gray's television stations.

Gray Television's BEAT THE ODDS and SportsGrid Launch Partnership for National Syndication of Five Sports Betting Specials

ATLANTA, March 28, 2024 (GLOBE NEWSWIRE) -- Gray Television Inc. (“Gray”) (NYSE: GTN) is pleased to announce a multi-year agreement with the Arena Football League to bring Saturday arena football games over-the-air to local audiences in at least thirty-four markets across the United States. The first AFL games on Gray's television stations will air on Saturday, April 27, 2024, and continue for the ten-week 2024 AFL season.

Gray Television Partners with Revamped Arena Football League to Bring Local Spring Football to Viewers Free Over-The-Air Starting April 27

Atlanta, March 04, 2024 (GLOBE NEWSWIRE) -- Gray Television Inc. (“Gray”) (NYSE: GTN) announced today that it has successfully completed renewals of retransmission consent agreements representing more than 70 percent of its total subscriber footprint among cable, satellite, and telco multichannel video programming distributors (“traditional MVPDs”) in its current three-year retransmission renewal cycle that began with the successful renewal of agreements with three of the largest traditional MVPDs in the first quarter of 2023.

Gray Television Surpasses Major Retrans Renewal Milestone with No Consumer Disruptions

Peachtree TV and Peachtree Sports Network to air Dream games across the region Peachtree TV and Peachtree Sports Network to air Dream games across the region

Atlanta Dream and Gray Television Announce Broadcast Partnership

Gray Television, Inc. (GTN) Q4 2023 Earnings Call Transcript

The TV channel operator didn't have a great fourth quarter. Its revenue, net loss, and top-line guidance didn't meet analyst expectations.

Why Gray Television Stock Tanked Today

Gray Television (GTN) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to earnings of $1.88 per share a year ago.

Gray Television (GTN) Reports Q4 Loss, Tops Revenue Estimates

ATLANTA, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Gray Television, 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 million, which was below the low end of our expense guidance for the quarter.

Gray Finishes 2023 In A Strong Position and Issues Positive Outlook for 2024

ATLANTA, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Gray Television Inc. (“Gray,” the “Company,” “we,” “us,” or “our”) (NYSE: GTN) announced today that Chief Financial Officer Jim Ryan has notified the Company of his voluntary decision to transition into retirement after 2025. Gray and Jim have agreed that he will remain with Gray as a Senior Advisor through his retirement to assist with a seamless transition of his duties.

Gray Television Announces CFO Jim Ryan's Upcoming Retirement and Appointment of Jeff Gignac to Succeed Him

ATLANTA, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) announced today that it has closed a refinancing and upsizing of its revolving credit facility and has postponed its planned opportunistic refinancing of its $1.19 billion term loan due in 2026, due to recent market conditions. In addition, Gray announced today that, on February 8, 2024, Gray received approximately $110 million in pre-tax cash proceeds from the closing of the previously announced sale of Broadcast Music, Inc. (“BMI”) to a shareholder group led by New Mountain Capital, LLC.

Gray Announces Closing and Upsizing of Revolving Credit Facility Refinancing and Announces Update on Term Loan and BMI Sale Proceeds

ATLANTA, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announces the launch of InvestigateTV+ en Español on February 26, 2024, in 26 of Gray's Telemundo markets. The program from Gray's award-winning investigative team, which currently airs in English in 113 of Gray's markets, will now reach an extended audience through its newly formatted show in Spanish. Airing Monday through Friday in early news windows across the country, the show will provide in-depth, informative, and inspirational stories in Spanish that aim to dig deeper into storytelling while providing viewers with solutions.

Gray Television Launches InvestigateTV+ en Español to Serve Extended Bilingual Audience in 26 Gray-Owned Telemundo Markets

Gray Television (GTN) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

News for Gray TV Stock (GTN)