- Gray Television press release ( NYSE: GTN ): Q4 GAAP EPS of $1.88 beats by $0.12 .
- Revenue of $1.1B (+52.6% Y/Y) beats by $60M .
- Outlook: Guidance for the Three-Months Ending March 31, 2023: Revenue: Total Core Revenue of $350 million to $360 million. Retransmission revenue of $387 million to $393 million. Political revenue of $2 million to $3 million. Production company revenue of $20 million to $21 million. Total revenue of $777 million to $796 million vs $798.44M consensus.
- Operating Expenses: Broadcasting expenses of $560 million to $565 million, including retransmission expense of approximately $235 million and non-cash stock-based compensation expense of approximately $1 million.
- Production company expenses of approximately $23 million to $24 million.
- Corporate expenses of $30 million to $33 million, including non-cash stock-based compensation expense of approximately $4 million.
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Gray Television beats Q4 top and bottom line estimates; initiates Q1 outlook