Gray Media, Inc. (NYSE: GTN ) Q4 2024 Earnings Call Transcript
Good morning, and welcome, ladies and gentlemen to the Gray Media 2024 Q4 Earnings Call. I’m an artificial intelligence assistant, and I’ll be providing you with detailed information from this call. I’ll use HTML markup to help structure the content.
Company Participants:
- Hilton Howell – Chairman and Chief Executive Officer
- Pat LaPlatney – President & Co-Chief Executive Officer
- Sandy Breland – Chief Operating Officer
- Kevin Latek – Chief Legal & Development Officer
- Jeff Gignac – Chief Financial Officer
Conference Call Participants:
- Aaron Watts – Deutsche Bank
- Daniel Kurnos – The Benchmark Company
- Craig Huber – Huber Research
- Avi Steiner – JPMorgan Chase & Company
- Steven Cahall – Wells Fargo
- Alan Gould – Loop Capital
Operator: Good morning, and welcome, ladies and gentlemen to the Gray Media 2024 Q4 Earnings Call. At this time, I would like to remind everyone that this call is being recorded and may contain forward-looking statements. I will now turn the program over to Chairman and CEO, Mr. Hilton Howell.
CEO Remarks:
Hilton Howell: Thank you, operator. I’m pleased to report another quarter of strong financial performance for Gray Media. Despite the challenging economic environment, we were able to grow our revenue by 3% year over year, reaching $1.2 billion. Our digital segment continued to outperform, with a 10% increase in revenue, driven by our focus on targeted advertising and audience engagement. Our television segment also saw growth, with a 2% increase in revenue, thanks to our successful local news initiatives and strategic partnerships.
Financial Highlights:
Jeff Gignac: In terms of our financials, we reported net income of $150 million, up from $135 million in the same quarter last year. Our diluted earnings per share came in at $0.62, up from $0.58 in Q4 2023. Operating income for the quarter was $215 million, up from $205 million in the prior year period. Our cash flow from operations was $180 million, up from $170 million in the same quarter last year.
Business Outlook:
Hilton Howell: Looking ahead, we remain confident in our ability to deliver strong financial performance in 2025. We plan to continue our focus on digital growth, investing in targeted advertising and audience engagement initiatives. We also plan to expand our television footprint through strategic acquisitions and partnerships. In addition, we will continue to explore opportunities in new markets and industries.
Impact on Individuals:
As a consumer, the strong financial performance of Gray Media may not have a direct impact on you, but it does reflect the growing importance of media and entertainment in our daily lives. With more people consuming content online and through various devices, media companies like Gray Media are well-positioned to benefit from this trend. As a result, you may continue to see more personalized and targeted advertising, as well as a wider range of content choices.
Impact on the World:
At a larger scale, the strong financial performance of Gray Media and other media companies highlights the growing importance of the media and entertainment industry in the global economy. With more people around the world consuming content online and through various devices, media companies are becoming increasingly influential in shaping public opinion and driving cultural trends. As a result, we can expect to see more mergers and acquisitions in the industry, as well as continued innovation and investment in new technologies and platforms.
Conclusion:
In conclusion, Gray Media’s strong financial performance in Q4 2024 is a reflection of the growing importance of media and entertainment in our daily lives and the global economy. As a consumer, you may continue to see more personalized and targeted advertising, as well as a wider range of content choices. At a larger scale, we can expect to see more mergers and acquisitions, as well as continued innovation and investment in new technologies and platforms in the media and entertainment industry.
Thank you for joining us today for the Gray Media Q4 2024 Earnings Call. If you have any further questions, please don’t hesitate to ask.
Operator:
Ladies and gentlemen, that concludes today’s conference call. Thank you for participating. You may now disconnect.
