Graham Holdings Co. Files 10-Q for Q1 2024

TL;DR

<b>Graham Holdings Co. has filed its Q1 2024 10-Q report, detailing financial performance and operational updates.</b>

AI Summary

Graham Holdings Co (GHC) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Graham Holdings Co. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Graham Holdings Co. was formerly known as The Washington Post Company. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Graham Holdings Co, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, enabling them to assess the company's performance and make informed investment decisions. Understanding the company's financial health and operational segments, as detailed in this report, is crucial for evaluating its current market position and future prospects.

Risk Assessment

Risk Level: low — Graham Holdings Co shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any unusual or significant events that would elevate the risk profile.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue trends and profitability drivers for Q1 2024.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed period of report)
• 2024-05-01 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Fiscal quarter for which the report is filed)
• 12/31 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• Graham Holdings Co. (company) — Filer
• The Washington Post Company (company) — Former company name
• DE (jurisdiction) — State of incorporation
• 1300 NORTH 17TH STREET SUITE 1700 ARLINGTON VA 22209 (address) — Business and mailing address

FAQ

Industry Context

Graham Holdings Co. operates in the Services-Educational Services sector (SIC 8200).

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the consolidated balance sheets for changes in assets, liabilities, and equity from the previous fiscal year.
2. Examine the consolidated statements of operations to understand revenue and net income trends for the first quarter of 2024 compared to 2023.
3. Review any disclosures related to segments such as Television Broadcasting and Automotive.

Year-Over-Year Comparison

This filing represents the first quarterly report for fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $1.00 — stered Class B Common Stock, par value $1.00 per share GHC New York Stock Exchange

Filing Documents

• ghc-20240331.htm (10-Q) — 1596KB
• a2024q110-qex311.htm (EX-31.1) — 9KB
• a2024q110-qex312.htm (EX-31.2) — 9KB
• a2024q110-qex32.htm (EX-32) — 5KB
• 0000104889-24-000016.txt (&nbsp;) — 11093KB
• ghc-20240331.xsd (EX-101.SCH) — 89KB
• ghc-20240331_cal.xml (EX-101.CAL) — 127KB
• ghc-20240331_def.xml (EX-101.DEF) — 589KB
• ghc-20240331_lab.xml (EX-101.LAB) — 1003KB
• ghc-20240331_pre.xml (EX-101.PRE) — 778KB
• ghc-20240331_htm.xml (XML) — 1833KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Changes in Common Stockholders' Equity 5 Notes to Condensed Consolidated Financial Statements 6 Organization, Basis of Presentation and Recent Accounting Pronouncements 6 Acquisitions and Dispositions of Businesses 7 Investments 8 Accounts Receivable , Accounts Payable , Vehicle Floor Plan Payable and Accrued Liabilities 10 Inventories and Contracts in Progress 11 Goodwill and Other Intangible Assets 11 Debt 12 Fair Value Measurements 13 Revenue From Contracts With Customers 14 Earnings Per Share 16 Pension and Postretirement Plans 17 Other Non-Operating Income 18 Accumulated Other Comprehensive Income (Loss) 18 Contingencies 19 Business Segments 19 Item 2.

Management's Discussion and Analysis of Results of Operations and Financial Condition

Management's Discussion and Analysis of Results of Operations and Financial Condition 23 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32

OTHER INFORMATION

PART II. OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 5. Ot her Info rmation 33 Item 6. Exhibits 34

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. GRAHAM HOLDINGS COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended March 31 (in thousands, except per share amounts) 2024 2023 Operating Revenues Sales of services $ 646,410 $ 586,863 Sales of goods 506,252 444,683 1,152,662 1,031,546 Operating Costs and Expenses Cost of services sold (exclusive of items shown below) 387,743 356,942 Cost of goods sold (exclusive of items shown below) 432,220 370,272 Selling, general and administrative 263,979 241,962 Depreciation of property, plant and equipment 22,527 20,025 Amortization of intangible assets 10,751 13,944 Impairment of long-lived assets — 745 1,117,220 1,003,890 Income fr om Operations 35,442 27,656 Equity i n earnings of affiliates, net 2,331 4,661 Interest income 2,178 1,204 Interest expense ( 19,328 ) ( 14,294 ) Non-operating pension and postretirement benefit income, net 42,417 31,845 Gain o n marketable equity securities, net 104,152 18,022 Other income, net 1,647 3,083 Income Be fore Income Taxes 168,839 72,177 Provision for Income Taxes 43,500 19,200 Ne t Income 125,339 52,977 Net Income Attributable to Noncontrolling Interests ( 959 ) ( 705 ) Net Income Attributable to Graham Holdings Company Common Stockholders $ 124,380 $ 52,272 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic ne t income p er common share $ 27.87 $ 10.91 Basic average number of common shares outstanding 4,432 4,759 Diluted net income p er common share $ 27.72 $ 10.88 Diluted average number of common shares outstanding 4,457 4,776 See accompanying Notes to Condensed Consolidated Financial Statements. 1 GRAHAM HOLDINGS COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended March 31 (in thousands) 2024 2023 Net Income $ 125,339 $ 52,977 Other Comprehensive Loss, Before Tax Foreign currency translation adjustments: Translation adjustmen

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View this 10-Q filing on SEC EDGAR