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Gray Media Q3 revenue beats estimates on political advertising strength

By Reuters News


Overview

  • US broadcast TV station owner's Q3 revenue rose 30% yr/yr, beating analyst expectations

  • Q3 net income missed analyst estimates

  • Record political ad revenue and acquisitions drove results; company plans further debt reduction


Outlook

  • Gray Media expects full-year 2026 political advertising revenue of $630 mln to $640 mln

  • Company forecasts Q4 2026 total revenue between $1.115 bln and $1.140 bln

  • Gray Media plans to reduce outstanding debt by $175 mln to $200 mln in Q4 2026


Result Drivers

  • POLITICAL ADVERTISING - Co said record political advertising revenue of $198 mln drove Q3 results

  • ACQUISITIONS - Co said acquisitions contributed $66 mln in total advertising revenue in Q3

  • CORE ADVERTISING - Co said core advertising revenue grew 1% yr/yr, helped by acquisitions and stronger non-political demand


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$972 mln

$954.22 mln (5 Analysts)

Q3 EPS

$0.66

Q3 Net Income

Miss

$78 mln

$83.70 mln (5 Analysts)


Reuters Recommended Reads

  • Nov 5 - E.W. Scripps Q3 revenue rises on increased political ad revenue

  • Nov 4 - Magnite Q3 revenue beats, driven by political ad spends

  • Nov 3 - US Senate panel sets hearing for Trump's FCC pick; ABC TV licenses in focus


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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