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Sep 30, 2021
Graham Holdings Q3 2021 Earnings Report
Graham Holdings' performance declined due to losses in manufacturing and television broadcasting, despite revenue increase, and was significantly impacted by the COVID-19 pandemic.
Key Takeaways
Graham Holdings Company reported a decrease in net income for the third quarter of 2021 compared to the same period in 2020. Revenue increased, but operating results declined in several divisions. The COVID-19 pandemic continued to impact the Company's results.
Net income attributable to common shares decreased to $39.6 million ($7.90 per share) from $77.6 million ($15.22 per share) year-over-year.
Revenue increased by 13% to $809.4 million, driven by growth in education, healthcare, and automotive sectors, but offset by declines in television broadcasting and manufacturing.
The company reported an operating loss of $16.6 million, compared to an operating income of $40.2 million in the same quarter of the previous year.
Operating results were negatively impacted by declines in manufacturing, television broadcasting and healthcare, offset by improvements in education and automotive.
Graham Holdings
Graham Holdings
Graham Holdings Revenue by Segment
Revenue by Segment
Education Revenue
CapyFin.comTelevision Broadcasting Revenue
CapyFin.comManufacturing Revenue
CapyFin.comHealthcare Revenue
CapyFin.comAutomotive Revenue
CapyFin.com Forward Guidance
All public statements made by the Company and its representatives that are not statements of historical fact, including certain statements in this press release, in the Company’s Annual Report on Form 10-K and in the Company’s 2020 Annual Report to Stockholders, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Challenges Ahead
- Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the duration and severity of the COVID-19 pandemic and its effects on the Company’s operations, financial results, liquidity and cash flows.
- Other forward-looking statements include comments about expectations related to acquisitions or dispositions or related business activities, including the TOSA, the Company’s business strategies and objectives, anticipated results of license renewal applications, the prospects for growth in the Company’s various business operations and the Company’s future financial performance.
- As with any projection or forecast, forward-looking statements are subject to various risks and uncertainties, including the risks and uncertainties described in Item 1A of the Company’s Annual Report on Form 10-K, that could cause actual results or events to differ materially from those anticipated in such statements.
- Accordingly, undue reliance should not be placed on any forward-looking statement made by or on behalf of the Company.
- The Company assumes no obligation to update any forward-looking statement after the date on which such statement is made, even if new information subsequently becomes available.
Revenue & Expenses
Visualization of income flow from segment revenue to net income