Graham Holdings Files Q3 2024 10-Q

TL;DR

GHC Q3 24 10-Q filed. Financials out.

AI Summary

Graham Holdings Co. reported its third-quarter results for the period ending September 30, 2024. The company's financial performance for the quarter and the nine months ended September 30, 2024, is detailed in this 10-Q filing. Specific financial figures and operational details for various business segments are provided.

Why It Matters

This filing provides investors with the latest financial performance data for Graham Holdings Co., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating significant new risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-10-30 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Graham Holdings Co. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-30 (date) — Filing date
• 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-20240930.htm (10-Q) — 2201KB
• a2024q310-qex311.htm (EX-31.1) — 9KB
• a2024q310-qex312.htm (EX-31.2) — 9KB
• a2024q310-qex32.htm (EX-32) — 5KB
• 0000104889-24-000065.txt ( ) — 13454KB
• ghc-20240930.xsd (EX-101.SCH) — 91KB
• ghc-20240930_cal.xml (EX-101.CAL) — 125KB
• ghc-20240930_def.xml (EX-101.DEF) — 635KB
• ghc-20240930_lab.xml (EX-101.LAB) — 1049KB
• ghc-20240930_pre.xml (EX-101.PRE) — 826KB
• ghc-20240930_htm.xml (XML) — 2499KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive Income (Loss) 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 17 Earnings ( Loss) Per Share 17 Pension and Postretirement Plans 19 Other Non-Operating (Expense) Income 21 Accumulated Other Comprehensive Income (Loss) 22 Contingencies 23 Business Segments 23 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 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5. Other Information 40 Item 6. Exhibits 41

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. GRAHAM HOLDINGS COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended September 30 Nine Months Ended September 30 (in thousands, except per share amounts) 2024 2023 2024 2023 Operating Revenues Sales of services $ 700,009 $ 633,535 $ 2,003,543 $ 1,845,617 Sales of goods 507,153 477,984 1,541,561 1,402,447 1,207,162 1,111,519 3,545,104 3,248,064 Operating Costs and Expenses Cost of services sold (exclusive of items shown below) 399,667 373,784 1,171,703 1,093,756 Cost of goods sold (exclusive of items shown below) 427,114 407,803 1,306,905 1,182,899 Selling, general and administrative 269,016 254,757 801,982 741,402 Depreciation of property, plant and equipment 21,332 22,207 66,032 63,335 Amortization of intangible assets 8,385 11,759 29,194 39,007 Impairment of goodwill and other long-lived assets — 98,321 26,287 99,066 1,125,514 1,168,631 3,402,103 3,219,465 Income (Loss) fr om Operations 81,648 ( 57,112 ) 143,001 28,599 Equity i n losses of affiliates, net ( 13,361 ) ( 791 ) ( 8,470 ) ( 2,245 ) Interest income 2,277 1,986 6,566 4,738 Interest expense ( 25,896 ) ( 11,810 ) ( 136,607 ) ( 37,878 ) Non-operating pension and postretirement benefit income, net 38,307 35,653 105,379 97,313 Gain o n marketable equity securities, net 30,496 16,759 154,276 113,429 Other (expense) income, net ( 465 ) 3,581 2,973 22,458 Income (Loss) Be fore Income Taxes 113,006 ( 11,734 ) 267,118 226,414 Provision for Income Taxes 38,500 9,400 86,100 70,400 Ne t Income (Loss) 74,506 ( 21,134 ) 181,018 156,014 Net Income Attributable to Noncontrolling Interests ( 2,003 ) ( 1,897 ) ( 5,175 ) ( 3,985 ) Net Income (Loss) Attributable to Graham Holdings Company Common Stockholders $ 72,503 $ ( 23,031 ) $ 175,843 $ 152,029 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic ne t income (loss) p er common share $ 16.54 $ ( 5.02 ) $ 39.74 $ 32.23 Basic aver

View Full Filing

View this 10-Q filing on SEC EDGAR