Quarterly ResultAug 7, 2026, 06:05 AM
Gray Media Q2 Revenue $839M (+9%); Net Income $14M vs $(56)M Loss
AI Summary
Gray Media reported strong financial results for the second quarter ended June 30, 2026, with total revenue increasing 9% year-over-year to $839 million and net income reaching $14 million, a significant turnaround from a loss in the prior year. The company's M&A activities contributed positively, and political advertising revenue substantially exceeded guidance. Gray Media also announced a new $250 million debt repurchase authorization and provided optimistic guidance for the third quarter of 2026.
Key Highlights
- Total Revenue for Q2 2026 was $839 million, an increase of 9% compared to Q2 2025.
- Net Income for Q2 2026 was $14 million, a significant improvement from a $(56) million loss in Q2 2025.
- Adjusted EBITDA increased 27% to $214 million in Q2 2026 compared to Q2 2025.
- Political Advertising Revenue reached $83 million in Q2 2026, exceeding guidance and up 822% YoY.
- Net Retransmission Revenue grew 10% to $150 million in Q2 2026.
- Board authorized up to $250 million for debt repurchases through December 31, 2027.
- Q3 2026 Total Revenue guidance is between $935 million and $965 million.
- Consolidated Total Net Leverage Ratio was 5.73 to 1.00 as of June 30, 2026.
Price Impact
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