NYSE$GHC

Graham Holdings Co - Class B · Q4 2024 earnings

Q4 2024 earnings · · After market close · Investor relations

Briefing

Graham Holdings Company reported its financial results for the fourth quarter and full year of 2024, with significant increases in revenue and net income.

Graham Holdings Company reported a 7% increase in fourth-quarter revenue to $1,245.8 million and a substantial rise in net income attributable to common shares to $548.8 million, up from $53.3 million in the prior year. This growth was primarily driven by strong performance in education, television broadcasting, and healthcare segments.

  • Fourth-quarter 2024 revenue increased 7% to $1,245.8 million, up from $1,166.8 million in 2023.
  • Net income attributable to common shares for Q4 2024 was $548.8 million ($125.55 per share), significantly higher than $53.3 million ($11.72 per share) in Q4 2023.
  • Operating income for the fourth quarter of 2024 increased 78% to $72.5 million, compared to $40.8 million in 2023.
  • Adjusted operating cash flow for Q4 2024 increased 68% to $139.6 million, up from $83.0 million in 2023.

Headline financials

Total Revenue

$1.25B

Previous: $1.17B+6.8%
EPS (adj)

$22.58

Previous: $10.94+106.4%
Adjusted Operating Cash Flow

$140M

Previous: $83M+68.2%
Capital Expenditures

$27.1M

Previous: $35.7M-24.1%
Net Gains on Marketable Equity Securities

$27M

Previous: $24.6M+9.7%
Net Pension Obligations Assumed

$2.51B

Previous: $2.11B+18.8%
Common Stock Repurchases

$15.9M

No prior period
Shares Outstanding

4.3M

No prior period
Borrowings Outstanding

$748M

Previous: $812M-7.8%
Cash, Marketable Equity Securities and Other Investments

$1.16B

Previous: $899M+28.7%
Net Income

$552M

Previous: $55.7M+890.5%
Operating Income

$72.5M

Previous: $40.8M+77.7%

Revenue & EPS history

Graham Holdings · Revenue · Quarterly

$1.25B

Q4 2024+6.8%vs Q4 2023
Beat estimate in 8 of 14 quarters(57%)
ActualEstimate

Revenue by segment

Graham Holdings · $1.03B total across 5 segments · Q3 2023

  • Education
    $412M+16.0%
  • Automotive
    $272M+28.7%
  • Healthcare
    $116M+33.3%
  • Television Broadcasting
    $116M-14.1%
  • Manufacturing
    $109M-11.2%

Forward guidance

The forward-looking statements indicate potential for continued growth, but also acknowledge various risks and uncertainties that could impact future financial performance.

Tailwinds

  • Expectations related to acquisitions or dispositions and related business activities.
  • Company's business strategies and objectives are designed for growth.
  • Prospects for growth in the Company's various business operations.
  • Future financial performance is anticipated to be positive.
  • Management's forecasts and assumptions support a positive outlook.

Headwinds

  • Risks and uncertainties described in Item 1A of the Company's Annual Report on Form 10-K.
  • Factors that could cause actual results to differ from stated expectations.
  • No obligation to update forward-looking statements if new information becomes available.
  • Reliance on forward-looking statements should be tempered by inherent uncertainties.
  • Potential for unforeseen events to impact business operations.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2024

Historical avgQ4 2024

-0.7%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+0.5%

Avg return

30 days after

42%

28 / 67 earnings

Positive

+8.2%

Q3 2020

Best reaction

-9.4%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.4%-2.0%-4.6%
Q4 2025-1.5%-1.7%-1.6%
Q3 2025-1.3%-2.2%+4.4%
Q1 2025-0.8%+1.5%+2.9%
Q4 2024+0.7%-2.4%-2.1%
Q3 2024+6.8%+6.9%+17.9%
Q2 2024-9.4%-14.0%-2.4%
Q1 2024+3.5%+6.3%+7.3%
Q4 2023-2.8%-1.5%+4.7%
Q3 2023+3.4%+7.0%+10.2%
Q2 2023+1.4%+4.0%+1.3%
Q1 2023-1.6%+1.6%+2.6%
Q4 2022-4.0%-4.4%-12.6%
Q3 2022+0.9%+0.1%-4.8%
Q2 2022-2.6%-3.1%-8.1%
Q1 2022+3.6%+2.6%+4.1%
Q4 2021+2.2%+0.8%+4.0%
Q3 2021+2.0%+2.5%-0.8%
Q2 2021-1.6%-4.6%-8.9%
Q1 2021+2.4%+5.1%+5.0%
Q4 2020-5.4%-5.8%-7.8%
Q3 2020+8.2%+10.1%+17.2%
Q2 2020+2.0%+4.6%+5.4%
Q1 2020-7.4%+1.5%+2.1%
Q4 2019+0.1%+1.8%-28.7%
Q3 2019-2.3%-1.8%-2.0%
Q2 2019-3.6%-7.4%-5.5%
Q1 2019-2.7%-4.3%-8.5%
Q4 2018-1.1%-0.1%+0.4%
Q3 2018+7.1%+9.7%+17.0%
Q2 2018-1.2%+0.9%+0.7%
Q1 2018-2.9%-1.2%-4.2%
Q4 2017-1.9%-2.6%+1.9%
Q3 2017-0.3%-2.5%+2.7%
Q2 2017-3.5%-1.4%-2.8%
Q1 2017-2.0%-1.8%+0.9%
Q4 2016+2.1%+4.2%+9.5%
Q3 2016-5.3%-5.4%+4.3%
Q2 2016+1.0%-1.0%-0.5%
Q1 2016+0.1%
Q4 2015-3.9%
Q3 2015-3.7%
Q2 2015+0.3%
Q1 2015-2.2%
Q4 2014-0.2%
Q3 2014+2.2%
Q2 2014+3.9%
Q1 2014-0.8%
Q2 2013-2.7%
Q4 2013+3.9%
Q3 2013+2.1%
Q1 2013-0.1%
Q4 2012-1.8%
Q3 2012-1.7%
Q2 2012+2.4%
Q1 2012-2.3%
Q4 2011+1.9%
Q3 2011-2.6%
Q2 2011+2.0%
Q4 2008-0.4%
Q1 2011-0.4%
Q3 2009+0.3%
Q3 2010+0.3%
Q2 2009-8.4%
Q2 2010-8.4%
Q4 2010-8.4%
Q1 2010+3.0%

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