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Jun 30, 2021
Graham Holdings Q2 2021 Earnings Report
Reported a significant increase in net income and revenue, driven by strong performance in education, television broadcasting, manufacturing, and healthcare divisions.
Key Takeaways
Graham Holdings Company reported a substantial increase in net income attributable to common shares for the second quarter of 2021, reaching $115.4 million ($22.99 per share) compared to $18.9 million ($3.60 per share) for the second quarter of 2020. Revenue also saw a significant increase, rising by 23% to $801.2 million. The company's operating income increased to $37.6 million, driven by improved results across multiple divisions, including education, television broadcasting, and manufacturing. The acquisition of Leaf Group Ltd. in June 2021 also contributed to the company's overall performance.
Net income attributable to common shares increased to $115.4 million ($22.99 per share) for Q2 2021, compared to $18.9 million ($3.60 per share) for Q2 2020.
Revenue increased by 23% to $801.2 million, driven by growth in education, television broadcasting, manufacturing, healthcare, and other businesses.
Operating income rose to $37.6 million, driven by improved performance in education, television broadcasting, manufacturing, and other businesses.
The acquisition of Leaf Group Ltd. in June 2021 contributed to the company's revenue in the 'other businesses' segment.
Revenue by Segment
Forward Guidance
The COVID-19 pandemic is expected to continue to have a significant adverse impact on several of the Company’s businesses for the remainder of 2021.
Challenges Ahead
- The COVID-19 pandemic and measures taken to prevent its spread, such as travel restrictions, shelter in place orders and mandatory closures, significantly impacted the Company’s results for 2020 and the first six months of 2021, largely from reduced demand for the Company’s products and services.
- This significant adverse impact is expected to continue for several of the Company’s businesses for the remainder of 2021.
- 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 is unknown.
- The degree to which financial and operating results will be negatively impacted is unpredictable.
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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