2024-02-23 22:20:20 ET
Gray Television, Inc. (GTN)
Q4 2023 Earnings Conference Call
February 23, 2024, 11:00 AM ET
Company Participants
Hilton Howell - Chairman and CEO
Kevin Latek - Chief Legal and Development Officer
Jim Ryan - Chief Financial Officer
Pat LaPlatney - President and Co-CEO
Sandy Breland - Chief Operating Officer
Conference Call Participants
Aaron Watts - Deutsche Bank
Dan Kurnos - Benchmark
Jim Goss - Barrington Research
John Kornreich - JK Media
Craig Huber - Huber Research
Hal Steiner - BNP
Alan Gould - Loop Capital
Steven Cahall - Wells Fargo
Presentation
Operator
Welcome to the Gray Television Q4 2023 Earnings Call. I will now turn the call over to Hilton Howell, Chairman and CEO of Gray Television. You may begin.
Hilton Howell
Thank you, operator. Good morning, everyone, and thank you for joining us. As the operator mentioned, I’m Hilton Howell, the Chairman and CEO of Gray Television. Thank you for joining our fourth quarter 2023 earnings call. With me here in Atlanta are all of our executive officers, Pat LaPlatney, our President and Co-CEO; Sandy Breland, Chief Operating Officer; Kevin Latek, our Chief Legal and Development Officer; and Jim Ryan, our Chief Financial Officer.
As usual, we will begin with a disclaimer that Kevin will provide. Thereafter, I will discuss the company’s results and expectations, followed by brief remarks from Jim Ryan regarding our financial posture. And then after those remarks, we will have a few questions for all of our officers here with me today.
Kevin?
Kevin Latek
Great. Thank you, Hilton, and good morning, everyone. Gray uses its website as a key source of company information. The website address is www.gray.tv. We filed our annual report on Form 10-K with the SEC a few minutes ago.
Included on the call may be a discussion of non-GAAP financial measures, and in particular, broadcast cash flow, operating cash flow, free cash flow, certain leverage ratios. These metrics are not meant to replace GAAP measurements, but are provided as supplements to assist the public in their analysis and valuation of our company. Included in our earnings release as well as on our website are reconciliations of the non-GAAP financial measures to the GAAP measures reported in our financial statements.
Certain matters discussed on this call may include forward-looking statements regarding, among other things, future operating results. Those statements are subject to a number of risks and uncertainties. Actual results in the future could differ from those expressed or implied in any forward-looking statements as a result of various important factors that have been set forth. The company’s most recent reports filed with the SEC, including our most recent annual report on Form 10-K and our most recent earnings release. The company undertakes no obligation to update these forward-looking statements.
I’ll now return the call to Hilton.
Hilton Howell
Thank you, Kevin. Before turning to today’s earnings release, I want to address Gray’s upcoming transition to a new Chief Financial Officer for the first time in 25 years. A few days ago, after the successful completion of the refinancing and the upsizing of our revolver, Jim Ryan notified me that he would like to transition into retirement after 2025. And as part of that plan to step down from his CFO position later this summer....
Read the full article on Seeking Alpha
For further details see:
Gray Television, Inc. (GTN) Q4 2023 Earnings Call Transcript