Gray Television ( (GTN) ) has released its Q1 earnings. Here is a breakdown of the information Gray Television presented to its investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Gray Television, a leading multimedia company based in Atlanta, Georgia, operates a vast network of top-rated local television stations and digital assets across the United States, reaching approximately 37% of U.S. television households. The company also owns several video production companies and digital media properties.
In its latest earnings report for the first quarter of 2025, Gray Television reported total revenues of $782 million, slightly above the high end of its guidance, despite a 5% decrease from the previous year. The company also managed to reduce its operating expenses below guidance and decreased its outstanding debt by $17 million.
Key financial metrics from the report highlighted a decrease in core advertising revenue by 8%, attributed to changes in Super Bowl broadcasting channels and fewer selling days. Political advertising revenue dropped by 52% due to the off-year in the political cycle, although it exceeded expectations in Wisconsin. The company reported a net loss of $22 million, contrasting with a net income of $75 million in the same quarter last year, primarily due to reduced political advertising revenue.
Looking ahead, Gray Television remains cautiously optimistic despite macroeconomic uncertainties affecting revenue forecasts. The company expects continued growth in digital advertising and local market share, alongside benefits from cost-cutting initiatives. Management anticipates further financial flexibility and potential improvements in the regulatory environment as the year progresses.