Graham Holdings Co - Class B · Q4 2023 earnings

Briefing

Reported a 10% increase in revenue and a significant improvement in operating income due to prior year impairment charges and gains in healthcare and automotive.

Graham Holdings Company reported a 10% increase in revenue for Q4 2023, reaching $1,166.8 million compared to $1,064.0 million in 2022. Operating income was $40.8 million, a significant improvement from an operating loss of $54.9 million in the same period last year. Net income attributable to common shares was $53.3 million ($11.72 per share), compared to $6.2 million ($1.28 per share) for the same period of 2022.

• Q4 revenue increased by 10% year-over-year, driven by growth in education, healthcare, and automotive sectors.
• Operating income improved significantly due to prior year impairment charges and gains in healthcare and automotive, offsetting declines in education, television broadcasting, and manufacturing.
• Net income attributable to common shares increased to $53.3 million, or $11.72 per share, compared to $6.2 million, or $1.28 per share, in Q4 2022.
• The company repurchased 100,263 shares of its Class B common stock at a cost of $62.1 million during the fourth quarter.

Headline financials

Revenue & EPS history

All public statements made by the Company and its representatives that are not statements of historical fact, including certain statements in this press release, in the Company’s Annual Report on Form 10-K and in the Company’s 2023 Annual Report to Stockholders, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.