| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.3K | 5.4% | 7.1% |
| Total Income | 1.3K | 5.4% | 7.1% |
| Expenditure | 1.2K | 3.5% | 6.6% |
| PBT | 317.48 | 681.0% | 423.7% |
| Net Profit | 281.10 | 865.6% | 664.9% |
| OPM | 6.42% | 1.74pp | 0.44pp |
| NPM | 21.58% | 19.23pp | 18.56pp |
| EPS | 65.53 | 881.0% | 677.3% |
Graham Holdings Company Reports Q2 2026 Earnings
30 Jul 2026 · 30 Jul, 6:07 pm
Summary
Graham Holdings Company reported a 7% increase in revenue for the second quarter of 2026, reaching $1,302.5 million, up from $1,215.8 million in the prior year quarter. Operating income also saw a significant rise to $83.6 million from $72.8 million, driven by improvements in education, television broadcasting, and other businesses. The company highlighted a substantial increase in net income attributable to common shares, which grew to $281.1 million ($64.86 per share) from $36.7 million ($8.35 per share) year-over-year, partly due to a $137.0 million noncash settlement gain from a pension plan transaction and strong performance in marketable equity securities.
Key Highlights
- 1
Graham Holdings Company reported revenue of $1,302.5 million for the second quarter of 2026, an increase of 7% compared to $1,215.8 million in the second quarter of 2025.
- 2
Operating income for the second quarter of 2026 was $83.6 million, up from $72.8 million in the second quarter of 2025.
- 3
Adjusted operating cash flow (non-GAAP) for the second quarter of 2026 was $119.8 million, an increase from $111.3 million in the second quarter of 2025.
- 4
The Company reported net income attributable to common shares of $281.1 million ($64.86 per share) for the second quarter of 2026, compared to $36.7 million ($8.35 per share) for the second quarter of 2025.
- 5
For the first six months of 2026, revenue was $2,538.5 million, up 7% from $2,381.7 million in the first six months of 2025.
- 6
The Company recorded a pre-tax noncash settlement gain of $137.0 million in the second quarter of 2026 related to a pension plan transaction.
- 7
Graham Holdings Company recognized $101.9 million in net gains on marketable equity securities in the second quarter of 2026, compared to $11.5 million in net losses in the second quarter of 2025.
Management Comments
Wallace R. Cooney
The Company reported net income attributable to common shares of $281.1 million ($64.86 per share) for the second quarter of 2026, compared to $36.7 million ($8.35 per share) for the second quarter of 2025. For the first six months of 2026, the Company reported net income attributable to common shares of $310.2 million ($71.04 per share), compared to $60.6 million ($13.81 per share) for the first six months of 2025. The results for the second quarter and first six months of 2026 and 2025 were affected by a number of items as described in the Non-GAAP Financial Information schedule attached to this release. Excluding these items, net income attributable to common shares was $84.2 million ($19.46 per share) for the second quarter of 2026, compared to $63.1 million ($14.33 per share) for the second quarter of 2025. Excluding these items, net income attributable to common shares was $158.1 million ($36.19 per share) for the first six months of 2026, compared to $114.1 million ($25.98 per share) for the first six months of 2025.
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