Gray Television Expects Q1 Revenue of $810M-$830M Vs $874.98M Est

Author: Benzinga Newsdesk | February 23, 2024 07:52am

Guidance for the Three-Months Ending March 31, 2024

Based on our current forecasts for the quarter ending March 31, 2024, we anticipate the following key financial results, as outlined below in approximate ranges. We present revenue net of agency commissions. We present operating expenses excluding depreciation, amortization and gain/loss on disposal of assets.
 

• Revenue:
  • Total Core Revenue of $365 million to $375 million, up low to mid-single digit percentage increases.
    • In the three months ended March 31, 2024, we anticipate approximately $18 million of net revenue from the broadcast of the Super Bowl on our 49 CBS channels compared to an aggregate of $6 million of net revenue relating to the broadcast of the Super Bowl on our 27 FOX channels during the three months ended March 31, 2023.
  • Retransmission revenue of $375 million to $380 million.
  • Political revenue of $30 million to $33 million.
  • Production company revenue of $23 million to $24 million.
  • Total revenue of $810 million to $830 million.

Posted In: GTN