Gray Media Q1 Loss of $0.34 on $768M Revenue; Declares $0.08 Dividend
Gray Media reported Q1 2026 loss per share of $0.34 versus a $0.28 consensus loss and revenue of $768 million against a $768.05 million forecast. The broadcaster said Core Advertising revenue exceeded guidance, announced a $0.08 dividend and held a 0.03 debt-to-equity ratio.
1. Q1 2026 Earnings Results
Gray Media reported a net loss per share of $0.34 on revenue of $768 million for the first quarter, missing the consensus loss estimate of $0.28 per share and falling $0.05 million short of the $768.05 million revenue forecast.
2. Operational Highlights and Outlook
Core Advertising revenue exceeded guidance as a resolved distribution partner dispute lifted net retransmission revenue, and management reaffirmed a positive growth outlook for the full year based on advertising strength and political spending trends.
3. Balance Sheet and Financial Health
The company maintained a low debt-to-equity ratio of 0.03 and a current ratio of 1.20, while reporting a negative price-to-earnings ratio of -13.41; Gray Media also invested $80 million in acquiring new television stations.
4. Dividend Declaration
Gray Media declared a quarterly cash dividend of $0.08 per share, marking its commitment to returning capital to shareholders despite the recent quarterly loss.