Gray Media reports Q1 EPS (34c) vs. (23c) last year

Reports Q1 revenue $768M, consensus $768.05M. CEO Hilton Howell, Jr. commented, “Our Q1 2026 results were solid, with Core Advertising exceeding our guidance and Political revenue at the high end of our guidance range. A recently resolved dispute with a distribution partner impacted our Net Retransmission Revenue for the quarter. With all scheduled 2026 retransmission negotiations now complete and the improvement in underlying MVPD subscriber trends, we now have visibility on our growth in Net Retransmission Revenue for full year 2026. While we are seeing some softness in core advertising in Q2, we are optimistic that, as the largest owner of top-rated local television stations and a footprint covering most of the competitive races, we will again capitalize on a strong mid-term political cycle. We were thrilled to have added new stations in four new markets during Q1…We are strengthening our market position through innovative sports partnerships – including airing 19 MLB teams across our 16 broadcast sports networks this year – while continuing to focus on the balance sheet, evaluating accretive M&A opportunities, and attracting the best and brightest talent to Gray.”