Quarterly ResultAug 7, 2026, 06:38 AM
Gray Media Q2 Net Income $14M, Revenue $839M; Authorizes $250M Debt Buyback
AI Summary
Gray Media, Inc. announced strong financial results for the second quarter of 2026, with net income significantly improving to $14 million and total revenue increasing 9% year-over-year to $839 million. The company also authorized a new $250 million debt repurchase program, replacing a prior authorization. Political advertising revenue saw a substantial 822% increase, and Adjusted EBITDA grew by 27%, reflecting the benefits of recent M&A activity and exceeding most guidance metrics.
Key Highlights
- Q2 2026 Net Income was $14 million, a 125% increase from -$56 million in Q2 2025.
- Q2 2026 Total Revenue increased 9% year-over-year to $839 million.
- Q2 2026 Political Advertising Revenue surged 822% to $83 million.
- Q2 2026 Adjusted EBITDA rose 27% to $214 million.
- Board authorized a new $250 million debt repurchase program through December 31, 2027.
- Repurchased $100 million of 2029 1L Notes and $20 million of 2031 Notes in July 2026.
- Q3 2026 Total Revenue guidance is $935 million to $965 million.
- Consolidated Total Net Leverage Ratio was 5.73 to 1.00 as of June 30, 2026.
Price Impact
More from GTN