Gray Television Sees 21.2% Revenue Drop to $749M; 25.3% Decline Forecast
Gray Television reported $749 million in revenues last quarter, a 21.2% year-on-year decline, and beat EPS estimates while issuing next-quarter revenue guidance below analysts’ forecasts. Investors expect a 25.3% year-on-year revenue drop this quarter, with analysts maintaining estimates and setting an average price target of $6.40 versus the current $4.69.
1. Last Quarter Results
Gray Television reported $749 million in revenues last quarter, down 21.2% year-on-year, and beat EPS expectations but issued revenue guidance below analysts’ forecasts.
2. Upcoming Quarter Forecast
Analysts project a 25.3% year-on-year revenue decline this quarter based on current advertising bookings and market conditions, reversing last year’s 20.9% quarterly gain.
3. Analyst Estimates and Price Target
Coverage analysts have maintained their estimates over the past month, reflecting steady outlooks, and set an average price target of $6.40 versus the current $4.69 share price.
4. Peer Performance Context
Peer broadcasters delivered mixed results—FOX grew revenue 2% and AMC Networks held flat, yet both saw share declines post-report, highlighting sector headwinds facing Gray Television.