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Sep 30, 2020
Graham Holdings Q3 2020 Earnings Report
Reported net income attributable to common shares for the third quarter of 2020.
Key Takeaways
Graham Holdings Company reported net income attributable to common shares of $77.6 million ($15.22 per share) for the third quarter of 2020, compared to $43.1 million ($8.05 per share) for the third quarter of 2019. Revenue for the third quarter of 2020 was $717.0 million, down 3% from $738.8 million in the third quarter of 2019. The operating income increase is driven by higher earnings in education, television broadcasting and healthcare, partially offset by declines in manufacturing and other businesses.
Net income attributable to common shares increased to $77.6 million in Q3 2020 from $43.1 million in Q3 2019.
Revenue decreased by 3% to $717.0 million in Q3 2020 compared to $738.8 million in Q3 2019.
Operating income increased to $40.2 million in Q3 2020 from $16.3 million in Q3 2019.
COVID-19 pandemic significantly impacted the company's results, largely from reduced demand for the company’s products and services.
Revenue by Segment
Forward Guidance
The significant adverse impact is expected to continue for the remainder of 2020 and into 2021. The Company’s management has taken 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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