GTN Earnings Prediction
The chart below shows how GTN performed 10 days before and after its earnings report, based on data from the past quarters. Typically, GTN sees a +11.00% change in stock price 10 days leading up to the earnings, and a +1.56% change 10 days following the report. On the earnings day itself, the stock moves by -6.02%. This data can give you a slight idea of what to expect for the next quarter's release.
GTN Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
864.00M
-19.40%
7.60%
Gross Margin
17.01%
-53.49%
-5.13%
Operating Margin
13.19%
-61.68%
-12.48%
Net Margin
-1.04%
-105.99%
-79.12%
EPS
-0.24
-112.90%
-57.89%
No Data Available
GTN Earnings Analysis
Corporation (GTN.A) Earnings Conference Call
Positive
- Gray Television saw significant growth in core advertising and retransmission consent revenues in the fourth quarter of 2023, with core advertising revenue up 2% compared to the previous year and retransmission consent revenue up 3%.
- The company reported total revenue of $864 million in the fourth quarter of 2023, exceeding the high end of revenue guidance. Operating expenses were below the low end of expense guidance for the quarter, showcasing strong financial management.
- Gray Television successfully completed the sale of BMI, receiving $110 million in pre-tax proceeds. This successful investment yielded significant returns for the company.
- The company posted a net loss attributable to common stockholders of $22 million in the fourth quarter of 2023, partly due to non-cash write-downs of certain investments. Despite this, operational performance and revenue growth remained strong.
- Gray Television showcased its commitment to local direct advertising business, with a 12% growth in new local direct ad revenue in the fourth quarter of 2023. This momentum has continued in 2024, indicating a solid foundation for future growth.
- The company secured professional sports partnerships, bringing games featuring teams like the Atlanta Hawks and New Orleans Pelicans to broadcast television. These initiatives aim to leverage Gray's unique assets for future growth and audience engagement.
- Gray Television renewed all retransmission consent agreements with MVPDs that expired in January 2024, covering a significant portion of the subscriber base at higher rates and improved terms. This reflects the enduring value of the company's local stations.
- The company capitalized on the Super Bowl with $18 million in local ad sales across its CBS portfolio, representing a significant increase over previous Super Bowl revenue. This success highlights Gray Television's strong performance in key advertising events.
Negative
- Gray Television posted a net loss attributable to common stockholders of $22 million in the fourth quarter of 2023, partly due to non-cash write-downs of certain investments.
- The unexpected turmoil in the capital markets led to the postponement of the effort to refinance senior credit facilities, except for the revolving credit facility that was successfully refinanced at a larger amount of $625 million.
- The company had to delay the refinancing of the term loan expiring in 2026 due to market conditions, impacting its financial planning for the future.
- Gray Television faced investments that did not yield the expected results, leading to challenges in financial performance, despite strong operational achievements throughout the year.
- The company provided limited details and guidance on the political revenue for the full year 2024, leaving uncertainty around this significant revenue stream.
