Graham Holdings(GHC)
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Graham Holdings(GHC) - 2024 Q1 - Quarterly Results
2024-05-01 12:36
Exhibit 99.1 Contact: Wallace R. Cooney For Immediate Release (703) 345-6470 May 1, 2024 Debt, Cash and Marketable Equity Securities At March 31, 2024, the Company had $815.6 million in borrowings outstanding at an average interest rate of 6.4%, including $108.1 million outstanding on its $300 million revolving credit facility. Cash, marketable equity securities and other investments totaled $981.9 million at March 31, 2024. Overall, the Company recognized $104.2 million and $18.0 million in net gains on ma ...
Graham Holdings(GHC) - 2024 Q1 - Quarterly Report
2024-05-01 12:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-06714 GRAHAM HOLDINGS COMPANY (Exact name of registrant as specified in its charter) Delaware 53-0182885 (State or other jurisdiction of incorporation or organization) 1300 No ...
Graham Holdings Company: Lack Of Growth And Poor Capital Allocation Dilute Confidence On Dividend Outlook
Seeking Alpha· 2024-04-06 10:34
Editor's note: Seeking Alpha is proud to welcome John-Paul Lake as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more » Untangling all of the business units reveals lackluster growth engines. malerapaso/E+ via Getty Images Investment Thesis My goal is to identify the future Dividend Aristocrats or Champions, and this article examines whether Graham Holdings Com ...
Graham Healthcare Group Receives 2024 Top Workplaces USA Award
Prnewswire· 2024-03-21 13:06
TROY, Mich., March 21, 2024 /PRNewswire/ -- Graham Healthcare Group, a subsidiary of Graham Holdings Company (NYSE: GHC) has announced that it is a recipient of the prestigious USA TODAY Top Workplaces USA 2024 award. This achievement underscores the organization's dedication to fostering a people-first workplace culture and prioritizing the employee experience. With a history spanning 17 years, the Top Workplaces program has surveyed over 27 million employees, spotlighting culture excellence across 60 regi ...
Poznan University of Medical Sciences Expands Partnership with Kaplan to Offer Students Additional Prep for Medical and Dental Licensing Exams
Businesswire· 2024-03-06 07:55
POZNAN, Poland--(BUSINESS WIRE)--Poznan University of Medical Sciences (PUMS), one of Poland’s leading institutions to train aspiring doctors, is expanding its partnership with global educational services provider Kaplan to provide students with an even more powerful and diverse suite of services. Effective immediately, medical and dental students will have access to Kaplan resources from the first day of their academic journey through graduation. And beginning this spring, all third year PUMS medical stude ...
Graham Holdings(GHC) - 2023 Q4 - Annual Results
2024-02-22 16:00
Exhibit 99.1 Contact: Wallace R. Cooney For Immediate Release (703) 345-6470 February 23, 2024 GRAHAM HOLDINGS COMPANY REPORTS 2023 AND FOURTH QUARTER EARNINGS ARLINGTON, VA - Graham Holdings Company (NYSE: GHC) today reported its financial results for the fourth quarter and full year of 2023. The Company also filed its Form 10-K today for the year ended December 31, 2023 with the Securities and Exchange Commission. Revenue for 2023 was $4,414.9 million, up 12% from $3,924.5 million in 2022. Revenues increa ...
Graham Holdings(GHC) - 2023 Q4 - Annual Report
2024-02-22 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 001-06714 Graham Holdings Company (Exact name of registrant as specified in its charter) Delaware 53-0182885 (State or other jurisdiction of incorporation or organization) (I.R.S. Em ...
Graham Holdings(GHC) - 2023 Q3 - Quarterly Report
2023-10-31 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-06714 GRAHAM HOLDINGS COMPANY (Exact name of registrant as specified in its charter) Delaware 53-0182885 (State or other jurisdiction of incorporation or organization) 130 ...
Graham Holdings(GHC) - 2023 Q2 - Quarterly Report
2023-08-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Delaware 53-0182885 (State or other jurisdiction of incorporation or organization) 1300 North 17th Street, Arlington, Virginia 22209 (Address of principal executive offices) (Zip Code) (703) 345-6300 Com ...
Graham Holdings(GHC) - 2023 Q1 - Quarterly Report
2023-05-02 16:00
Financial Performance - The Company reported net income of $52.3 million ($10.88 per share) for Q1 2023, down from $95.6 million ($19.45 per share) in Q1 2022[93]. - Revenue for Q1 2023 was $1,031.5 million, a 13% increase from $914.7 million in Q1 2022, driven by growth in education, healthcare, and automotive sectors[93]. - The Company recorded $18.0 million in net gains on marketable equity securities in Q1 2023, with an after-tax impact of $13.3 million[95]. - The Company recognized net gains on marketable equity securities of $18.0 million in Q1 2023, compared to $46.9 million in Q1 2022[126]. - The effective tax rate for the Company was 26.6% in Q1 2023, slightly down from 26.9% in Q1 2022[128]. Revenue Breakdown - Kaplan's education division revenue increased by 6% to $378.0 million in Q1 2023, with operating income rising to $23.0 million from $20.4 million in Q1 2022[94]. - Automotive revenue surged 54% to $232.6 million in Q1 2023, with operating income improving by 53% to $10.8 million, attributed to recent acquisitions[110]. - Healthcare revenue grew by 52% to $102.1 million in Q1 2023, although operating income fell by 54% to $2.9 million due to increased pension expenses[106]. - Television broadcasting revenue decreased by 9% to $112.9 million in Q1 2023, with operating income declining 28% to $28.6 million, impacted by reduced advertising revenues[103]. - Manufacturing revenue slightly declined by 1% to $114.6 million in Q1 2023, with operating income down 27% to $7.3 million due to lower revenues at key businesses[104]. - Supplemental education revenue fell by 4% in Q1 2023, primarily due to decreased demand for test preparation programs, despite improved operating results[99]. Operating Income and Expenses - Leaf Group reported significant operating losses in Q1 2023, with revenue declines attributed to reduced traffic and marketing spend, leading to a $2.9 million non-operating pension expense[116]. - Clyde's Restaurant Group achieved an operating profit in Q1 2023, a significant improvement from an operating loss in Q1 2022, driven by strong guest traffic[117]. - Net interest expense increased to $13.1 million in Q1 2023 from $10.7 million in Q1 2022, primarily due to higher debt and interest rates[123]. - The Company reported a net non-operating pension and postretirement benefit income of $31.8 million in Q1 2023, down from $50.5 million in Q1 2022[125]. Cash Flow and Investments - Net cash provided by operating activities decreased due to lower net income, net of non-cash adjustments[141]. - Net cash used in investing activities was $(1,954) thousand in Q1 2023, compared to $19,523 thousand in Q1 2022[141]. - Capital expenditures for Q1 2023 were $22.3 million, with an estimated range of $90 million to $100 million for the full year[142]. - Net cash used in financing activities was $(57,802) thousand in Q1 2023, compared to $(64,362) thousand in Q1 2022[143]. - Common stock repurchases totaled approximately $23.4 million for 38,795 shares in Q1 2023, with remaining authorization for 109,626 shares[144]. - Quarterly dividend rate per share increased to $1.65 in Q1 2023 from $1.58 in Q1 2022, with an expected total dividend of $6.60 per share for 2023[145]. Balance Sheet and Receivables - As of March 31, 2023, Kaplan had an outstanding accounts receivable balance of $100.9 million from Purdue Global, including a long-term receivable of $19.5 million[98]. - As of March 31, 2023, the Company had $691.1 million in borrowings at an average interest rate of 5.9% and cash and investments totaling $771.1 million[124]. - The Company had a working capital of $514.3 million as of March 31, 2023, compared to $534.1 million at the end of 2022[135]. Market Risks - The company is exposed to market risks including equity price risk, interest rate risk, and foreign exchange rate risk[147]. - Proceeds from sales of marketable equity securities were $29.0 million in Q1 2023, down from $55.7 million in Q1 2022[141].