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Gray Television GTN Q2 2025 earnings

Reported August 8, 2025 · Before market open

Revenue$772.0MBeat by $3.3M
EPS-$0.42Miss by $0.19
Revenue estimate$768.8M
EPS estimate-$0.23

Next report

Nov 6, 2026 (in 2 months)
Revenue estimate$951.9M
EPS estimate$0.81

Financials

Q2 2025

Income statement

See full
Revenue$772.0M-6.5%
Operating income$82.0M-46.1%
Net income-$56.0M-355%
EPS (diluted)-$0.71-889%

Balance sheet

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Cash & equivalents$199.0M+165%
Total debt$5.7B-8.9%
Total equity$2.2B+6.1%
Total assets$10.4B-2.7%

Cash flow

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Operating cash flow$31.0M+72.2%
CapEx$25.0M-13.8%
Free cash flow$6.0M—

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$466.21M-9.6%
Enterprise value$5.93B-10.9%
P/E2.3×-6.1×
P/S0.1×0.0×

Profitability

See full
Operating margin21.1%+6.8pp
Net margin5.6%+3.8pp
FCF margin19.9%+17.3pp

Returns & leverage

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Return on equity9.4%+6.5pp
Debt / equity2.6×-0.4×
Current ratio0.9×-0.8×

Segments

By product

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Retransmission Consent$369.0M-0.5%
Core Advertising$361.0M-3.2%
Service Other$15.0M-11.8%
Political Advertising$9.0M-80.9%

By segment

See full
Broadcasting$754.0M-6.7%
Production Companies$18.0M0.0%
All Other Segments-—

FAQ

When did Gray Television report Q2 2025 earnings?
Gray Television (GTN) reported Q2 2025 earnings on August 8, 2025 before market open.
What were Gray Television's Q2 2025 revenue and EPS?
Gray Television reported revenue of $772.0M and eps of $-0.42 for Q2 2025.
Did Gray Television beat estimates in Q2 2025?
Revenue beat the consensus estimate of $768.8M by $3.3M. EPS missed the consensus estimate of $-0.23 by $0.19.
How did Gray Television's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 6.5% from $826.0M a year earlier.
Where can I find Gray Television's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001437749-25-025557) and the 10-Q periodic report (0001437749-25-025616) directly on SEC EDGAR. The filing index links above go to sec.gov.