Graham Holdings Company reported significant financial developments for the nine months ended September 30, 2024, reflecting a robust performance across its various segments. Total revenue for this period reached $3,545.1 million, marking a 9% increase from $3,248.1 million in the same period of 2023. The company achieved a net income of $181.0 million, up from $156.0 million year-over-year, with basic earnings per share rising to $39.74 from $32.23.
The company's operating income also saw a substantial improvement, totaling $143.0 million compared to $28.6 million in the prior year. This increase was driven by strong performances in the education, television broadcasting, healthcare, and automotive segments. Notably, television broadcasting revenue surged by 25% to $145.4 million in Q3 2024, bolstered by political advertising and summer Olympics-related promotions.
In the education segment, revenue for Kaplan International increased by 11% in Q3 2024, while the overall education division reported an 8% rise in revenue for the first nine months. However, the supplemental education sector experienced a decline due to reduced activity in medical licensure test preparation.
The healthcare segment demonstrated a 34% revenue increase in Q3 2024, reflecting strong demand for home health and hospice services. Conversely, the manufacturing segment faced challenges, with revenue declining by 13% in Q3 2024, attributed to lower demand at Hoover and Dekko.
Strategically, Graham Holdings continued its acquisition strategy, acquiring two small businesses in 2024 and five businesses in 2023 for a total of $83.3 million. The company also recorded impairment charges of $26.3 million related to goodwill and intangible assets, reflecting ongoing challenges in certain segments.
Financially, total current assets rose to $2,084.6 million as of September 30, 2024, up from $1,849.3 million at the end of 2023. Cash and cash equivalents increased to $244.4 million, while total liabilities grew to $1,331.9 million. The company’s total equity reached $4,032.4 million, reflecting a solid financial position.
Graham Holdings also reported a significant increase in net cash provided by operating activities, totaling $290.7 million compared to $202.5 million in the previous year. The company’s capital expenditures are projected to be between $95 million and $105 million for 2024, indicating ongoing investment in growth initiatives.
About Graham Holdings Co
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.