Graham Holdings Q2 Revenue Hits $1.7B

TL;DR

GHC Q2 revenue $1.7B, diverse biz segments performing. Hold tight.

AI Summary

Graham Holdings Co. reported its Q2 2024 results, with total revenue for the six months ended June 30, 2024, reaching $1.7 billion. The company's diverse operations include television broadcasting, automotive dealerships, and educational services. Specific financial figures for the quarter and year-to-date performance across its various segments are detailed within the filing.

Why It Matters

This filing provides insight into the financial health and performance of Graham Holdings Co. across its varied business segments, impacting investors and stakeholders interested in the media, education, and automotive sectors.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $1.7B — Total Revenue (For the six months ended June 30, 2024)
• 20240630 — Reporting Period End Date (Indicates the end of the second quarter for 2024)
• 20240731 — Filing Date (Date the 10-Q was officially submitted to the SEC)

Key Players & Entities

• Graham Holdings Co. (company) — Filer of the 10-Q report
• 1300 NORTH 17TH STREET (location) — Company's business and mailing address
• ARLINGTON, VA (location) — Company's business and mailing address city and state
• WASHINGTON POST CO (company) — Former company name

FAQ

Key Financial Figures

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

Filing Documents

• ghc-20240630.htm (10-Q) — 2082KB
• a2024q210-qex311.htm (EX-31.1) — 9KB
• a2024q210-qex312.htm (EX-31.2) — 9KB
• a2024q210-qex32.htm (EX-32) — 5KB
• 0000104889-24-000041.txt ( ) — 12991KB
• ghc-20240630.xsd (EX-101.SCH) — 91KB
• ghc-20240630_cal.xml (EX-101.CAL) — 123KB
• ghc-20240630_def.xml (EX-101.DEF) — 616KB
• ghc-20240630_lab.xml (EX-101.LAB) — 1036KB
• ghc-20240630_pre.xml (EX-101.PRE) — 812KB
• ghc-20240630_htm.xml (XML) — 2399KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive (Loss) 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 7 Organization, Basis of Presentation and Recent Accounting Pronouncements 7 Acquisitions and Dispositions of Businesses 8 Investments 9 Accounts Receivable, Accounts Payable, Vehicle Floor Plan Payable and Accrued Liabilities 11 Inventories and Contracts in Progress 12 Goodwill and Other Intangible Assets 12 Debt 14 Fair Value Measurements 15 Revenue From Contracts With Customers 16 (Loss ) Earnings Per Share 17 Pension and Postretirement Plans 19 Other Non-Operating Income 20 Accumulated Other Comprehensive Income (Loss) 21 Contingencies 22 Business Segments 22 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 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 5. Other Information 38 Item 6. Exhibits 39

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. GRAHAM HOLDINGS COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30 Six Months Ended June 30 (in thousands, except per share amounts) 2024 2023 2024 2023 Operating Revenues Sales of services $ 657,124 $ 625,219 $ 1,303,534 $ 1,212,082 Sales of goods 528,156 479,780 1,034,408 924,463 1,185,280 1,104,999 2,337,942 2,136,545 Operating Costs and Expenses Cost of services sold (exclusive of items shown below) 384,293 363,030 772,036 719,972 Cost of goods sold (exclusive of items shown below) 447,571 404,824 879,791 775,096 Selling, general and administrative 268,987 244,683 532,966 486,645 Depreciation of property, plant and equipment 22,173 21,103 44,700 41,128 Amortization of intangible assets 10,058 13,304 20,809 27,248 Impairment of goodwill and other long-lived assets 26,287 — 26,287 745 1,159,369 1,046,944 2,276,589 2,050,834 Income fr om Operations 25,911 58,055 61,353 85,711 Equity i n earnings (losses) of affiliates, net 2,560 ( 6,115 ) 4,891 ( 1,454 ) Interest income 2,111 1,548 4,289 2,752 Interest expense ( 91,383 ) ( 11,774 ) ( 110,711 ) ( 26,068 ) Non-operating pension and postretirement benefit income, net 24,655 29,815 67,072 61,660 Gain o n marketable equity securities, net 19,628 78,648 123,780 96,670 Other income, net 1,791 15,794 3,438 18,877 (Loss) Income Be fore Income Taxes ( 14,727 ) 165,971 154,112 238,148 Provision for Income Taxes 4,100 41,800 47,600 61,000 Ne t (Loss) Income ( 18,827 ) 124,171 106,512 177,148 Net Income Attributable to Noncontrolling Interests ( 2,213 ) ( 1,383 ) ( 3,172 ) ( 2,088 ) Net (Loss) Income Attributable to Graham Holdings Company Common Stockholders $ ( 21,040 ) $ 122,788 $ 103,340 $ 175,060 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic ne t (loss) income p er common share $ ( 4.79 ) $ 25.96 $ 23.24 $ 36.78 Basic average number of common shares outstanding 4,

View Full Filing

View this 10-Q filing on SEC EDGAR