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Jun 30, 2020
Graham Holdings Q2 2020 Earnings Report
Reported a decrease in net income due to the impact of COVID-19.
Key Takeaways
Graham Holdings Company reported a decrease in net income attributable to common shares of $18.9 million ($3.60 per share) for the second quarter of 2020, compared to $57.1 million ($10.65 per share) for the second quarter of 2019. Revenue for the second quarter of 2020 was $652.9 million, down 11% from $737.6 million in the second quarter of 2019. The COVID-19 pandemic significantly impacted the Company’s results.
Net income attributable to common shares decreased to $18.9 million, or $3.60 per share, compared to $57.1 million, or $10.65 per share, in Q2 2019.
Revenue decreased by 11% to $652.9 million, compared to $737.6 million in Q2 2019.
Operating income decreased to $5.9 million, compared to $58.0 million in Q2 2019.
The COVID-19 pandemic had a significant adverse impact on the Company's results, largely from reduced demand for products and services.
Revenue by Segment
Forward Guidance
The Company expects the significant adverse impact from COVID-19 to continue in the second half of 2020. The Company's management is taking a variety of measures to reduce costs and capital expenditures. The Company cannot predict the severity or duration of the pandemic, the extent to which demand for the Company’s products and services will be adversely affected or the degree to which financial and operating results will be negatively impacted.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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