Quarterly ResultMay 7, 2026, 06:32 AM
Gray Media Q1 Net Loss $(20)M; Total Revenue $768M
AI Summary
Gray Media reported a net loss of $(20) million for Q1 2026, an increase from $(9) million in Q1 2025, on total revenue of $768 million, a 2% decrease year-over-year. Core advertising revenue grew 2% to $352 million, exceeding guidance, and political advertising revenue surged 131% to $30 million. The company also announced recent acquisitions of television stations in ten markets for a total of $195 million and provided Q2 2026 guidance, anticipating total revenue between $780 million and $800 million.
Key Highlights
- Net loss increased to $(20) million in Q1 2026 from $(9) million in Q1 2025.
- Total revenue for Q1 2026 was $768 million, a 2% decrease from Q1 2025.
- Core advertising revenue rose 2% to $352 million, exceeding guidance.
- Political advertising revenue increased 131% to $30 million in Q1 2026.
- Adjusted EBITDA decreased 4% to $154 million in Q1 2026.
- Acquired television stations in seven markets for $115 million on May 1, 2026.
- Acquired television stations in three markets for $80 million on May 6, 2026.
- Q2 2026 total revenue guidance is $780 million to $800 million.