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Sep 30, 2023
Graham Holdings Q3 2023 Earnings Report
Reported a net loss due to goodwill impairment charges, declines in television broadcasting, manufacturing, automotive, and other businesses, offset by an increase in education.
Key Takeaways
Graham Holdings Company reported a net loss attributable to common shares of $23.0 million, or $5.02 per share, for the third quarter of 2023, compared to net income of $32.8 million, or $6.76 per share, for the third quarter of 2022. Revenue for the third quarter of 2023 was $1,111.5 million, up 10% from $1,012.4 million in the third quarter of 2022. The operating loss was $57.1 million for the third quarter of 2023, compared to operating income of $59.5 million for the third quarter of 2022.
Third quarter revenue increased by 10% year-over-year to $1,111.5 million.
Net loss attributable to common shares was $23.0 million, or $5.02 per share, compared to net income of $32.8 million, or $6.76 per share, in the same quarter last year.
Operating loss was $57.1 million, a decrease from the operating income of $59.5 million in the third quarter of 2022.
Adjusted operating cash flow was $83.7 million, down from $99.4 million in the third quarter of 2022.
Revenue by Segment
Forward Guidance
The Company did not provide specific forward guidance in the earnings report.
Revenue & Expenses
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Avg. Return Before/After Earnings
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