Gray Media (GTN) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.49. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 53.06%. A quarter ago, it was expected that this broadcast television company would post earnings of $1.59 per share when it actually produced earnings of $1.59, delivering no surprise.Over the last four quarters, the compan ...

Core Insights - Gray Media, Inc. reported total revenues of $782 million for Q1 2025, a decrease of 5% from Q1 2024, but 1% above the high end of guidance for the quarter [6][12] - The company experienced a decline in core advertising revenue, which was $344 million, down 8% year-over-year, attributed to the Super Bowl airing on fewer channels compared to the previous year [6][12] - Political advertising revenue saw a significant drop of 52% to $13 million, consistent with the off-year of the political advertising cycle, yet it was 225% greater than the high end of guidance for the quarter [6][12] Financial Performance - Adjusted EBITDA for Q1 2025 was $160 million, down from $197 million in Q1 2024, primarily due to the cyclical decrease in political advertising revenue [14][6] - The net loss attributable to common stockholders was $22 million in Q1 2025, compared to a net income of $75 million in Q1 2024 [6][14] - Total operating expenses were $690 million, slightly down from $699 million in Q1 2024, with broadcasting expenses decreasing year-over-year for the first time since the COVID slowdown [6][12] Debt and Financial Flexibility - The company reduced its outstanding debt by $17 million during Q1 2025 and amended its revolving accounts receivable securitization facility to increase commitments from $300 million to $400 million [6][12] - As of March 31, 2025, Gray Media had a First Lien Leverage Ratio of 2.92 to 1.00 and a total leverage ratio of 5.48 to 1.00, indicating a manageable level of debt relative to its earnings [6][12] - The company has $692 million of borrowing availability under its undrawn Revolving Credit Facility, enhancing its financial flexibility [6][12] Future Guidance - For the quarter ending June 30, 2025, the company anticipates core advertising revenue to decline by mid-single digits compared to the same quarter in 2024, influenced by macroeconomic uncertainties [8][12] - Despite the anticipated decline in core advertising revenue, the company expects strong double-digit growth in digital advertising revenue and continued growth from local customers [8][12] - The company has implemented cost containment measures that are expected to exceed an annualized savings run-rate of $60 million [9][12]

Core Insights - Gray Media and its stations received multiple prestigious awards for journalistic excellence, highlighting their commitment to impactful local journalism [1][4][11] Awards and Recognitions - Sandy Breland, Gray's Executive Vice President and COO, was awarded the 2025 John F. Hogan Distinguished Service Award by the Radio Television Digital News Association for her contributions to journalism [2][3] - Jeff Schlesser, news director at Gray's WWSB, received the 2025 RTDNA Loren Tobia Leadership Award for his leadership in local programming [3] - WANF in Atlanta won first place in the National Headliner Awards for the documentary "In Plane Sight: The Fix," which investigated abuses by Drug Enforcement Task Force Agents [5] - WAVE in Louisville secured third place in the same category for its documentary on the Old National Bank mass shooting [5] - InvestigateTV, Gray's national investigative unit, received second place for its report on automakers' data collection practices [6] - WANF and WVUE in New Orleans were nominated for the 46th annual News & Documentary Emmy Awards for their investigative stories [7][8] - WIBW in Topeka won the 2025 Celebration of Service to America Award for its mental health awareness campaign [9][10] Company Overview - Gray Media, Inc. is the largest owner of local television stations in the U.S., reaching approximately 37% of U.S. television households [12]

Core Insights - The Zacks Broadcast Radio and Television industry is experiencing challenges due to cord-cutting, but companies like Netflix, Gray Media, Fox Corporation, and TEGNA are benefiting from increased digital content consumption and diverse offerings [1][2]. Industry Overview - The industry includes companies providing entertainment, sports, news, and musical content across various platforms, generating revenue through program sales, advertising, and subscriptions [2]. - There is a shift towards a variable cost model to enhance flexibility and reduce fixed costs amid evolving market dynamics [2]. Trends - Companies are diversifying content for OTT services to adapt to changing consumer preferences, which is expected to boost ad revenues [3]. - The rise in digital viewing is driving demand for tailored content, leveraging AI and machine learning for user engagement [4]. - The macroeconomic landscape, including high inflation and competition from tech companies, is impacting advertising budgets and revenue growth [5]. - The introduction of low-priced "skinny bundles" is changing revenue dynamics, potentially dampening top-line performance [6]. Performance Metrics - The industry ranks 41 in the Zacks Industry Rank, indicating it is in the top 17% of over 250 industries, with a positive earnings outlook [7][9]. - The industry has outperformed the broader Zacks Consumer Discretionary sector and the S&P 500, gaining 54.4% over the past year compared to 2% and 1.5% respectively [11]. - The current EV/EBITDA ratio for the industry is 15.35X, slightly above the S&P 500's 15.19X [14]. Company Highlights - **Fox Corporation**: Demonstrated strong financial momentum with a 20% revenue growth and record EBITDA of $781 million, while also expanding its audience share and attracting new advertisers [17][18]. - **TEGNA**: Focused on modernization and technology deployment, targeting $90-$100 million in annualized savings, with a strong balance sheet and digital transformation initiatives [22][24]. - **Netflix**: Achieved first-quarter revenues of $10.54 billion, up 12.5% year over year, with a growing subscriber base and ambitious revenue targets [27][28]. - **Gray Media**: Positioned to capitalize on market-leading stations and diversified revenue streams, with successful partnerships in local sports and a focus on reducing debt [31][35].

It's said that the stock market is forward-looking by around six months. If that is the case, value investors who also happen to have fairly high-risk tolerance should put Gray Media, Inc. (NYSE:I am a private investor based out of Toronto, Canada and I have been investing since 2003. After 8 years in Corporate Finance with a Canadian Telecom company I have decided to dedicate myself full-time to the capital markets. I write on Seeking Alpha to demonstrate my financial analysis and writing skills across a v ...

Company Performance - Gray Media's stock closed at $3.34, showing no change from the previous day, underperforming the S&P 500's daily gain of 0.13% [1] - Over the past month, Gray Media's shares have declined by 34.77%, significantly worse than the Consumer Discretionary sector's loss of 7.24% and the S&P 500's loss of 6.3% [1] Upcoming Earnings - Gray Media is set to disclose its earnings on May 8, 2025, with projected earnings of -$0.48 per share, indicating a year-over-year decline of 160.76% [2] - The consensus estimate for revenue is $772 million, reflecting a 6.2% decrease compared to the same quarter last year [2] Full Year Projections - For the full year, the Zacks Consensus Estimates predict earnings of -$0.27 per share and revenue of $3.21 billion, representing declines of 108.04% and 12.05% respectively from the prior year [3] Analyst Estimates - Recent modifications to analyst estimates for Gray Media are crucial as they reflect short-term business trends, with positive revisions indicating analysts' confidence in the company's performance [4] - The Zacks Rank system, which incorporates these estimate changes, provides a rating system for stock performance [5] Zacks Rank and Industry Position - Gray Media currently holds a Zacks Rank of 2 (Buy), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [6] - The Broadcast Radio and Television industry, part of the Consumer Discretionary sector, has a Zacks Industry Rank of 84, placing it in the top 34% of over 250 industries [7]

ATLANTA, April 17, 2025 (GLOBE NEWSWIRE) -- Gray Media has promoted Dana Neves to Senior Managing Vice President, effective immediately. In her new role, Dana oversees a number of Gray's television markets in the Northeast and Mid-Atlantic areas. For the past 7 years, Dana has served as the General Manager of Gray's WFSB (CBS) in Hartford, Connecticut, and has led its Connecticut-focused broadcast sports network The Wax since its launch last year.   Gray will soon begin a search for Dana's successor. Dana ...

Group 1 - Major League Pickleball (MLP) has announced local media partnerships with Gray Media to enhance distribution in various team markets for the 2025 season [1][2] - The 2025 MLP season will include 10 regular season events, a Mid-Season Tournament, and two weeks of playoffs, running from April to August, with a standalone MLP Cup in November [3] - The sport of pickleball has seen significant growth, with over 20 million players currently participating [2] Group 2 - Gray Media is the largest owner of top-rated local television stations in the U.S., reaching approximately 37% of U.S. television households [4] - Gray Media's portfolio includes 78 markets with top-rated television stations and the largest Telemundo Affiliate group with 44 markets [4] - The company also offers digital marketing strategies through Gray Digital Media, enhancing its multimedia presence [4]

Gray Media (GTN) closed the latest trading day at $3.35, indicating a -0.59% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.81%. Elsewhere, the Dow gained 1.56%, while the tech-heavy Nasdaq added 2.06%.The broadcast television company's shares have seen a decrease of 19.95% over the last month, not keeping up with the Consumer Discretionary sector's loss of 7.73% and the S&P 500's loss of 6.14%.Market participants will be closely following the financia ...

ATLANTA, April 10, 2025 (GLOBE NEWSWIRE) -- Gray Media and the Military Basketball Association today announced a broadcast partnership to air select MBA playoff games and other content on Gray’s local television stations and broadcast sports networks.   The first MBA over-the-air game airs on the Gray Media platforms on Sunday, April 13 at 6 p.m. ET.  The initial airing features the MBA’s Eastern Conference Finals from the campus of Queens University of Charlotte in Charlotte, North Carolina. Game productio ...