Earnings summaries and quarterly performance for Graham Holdings.
Executive leadership at Graham Holdings.
Timothy J. O’Shaughnessy
Detailed
President and Chief Executive Officer
CEO
Andrew S. Rosen
Detailed
Chairman – Kaplan, Inc. and Executive Vice President – Graham Holdings Company
Jacob M. Maas
Detailed
Executive Vice President
Nicole M. Maddrey
Detailed
Senior Vice President, General Counsel and Secretary
Wallace R. Cooney
Detailed
Senior Vice President – Finance and Chief Financial Officer
Board of directors at Graham Holdings.
Anne M. Mulcahy
Detailed
Chair of the Board
Christopher C. Davis
Detailed
Lead Independent Director
Danielle Conley
Detailed
Director
Donald E. Graham
Detailed
Director
G. Richard Wagoner, Jr.
Detailed
Director
Jack Markell
Detailed
Director
Katharine Weymouth
Detailed
Director
Thomas S. Gayner
Detailed
Director
Tony Allen
Detailed
Director
Research analysts covering Graham Holdings.
Recent press releases and 8-K filings for GHC.
Graham Holdings Company Reports Strong 2025 Performance and Strategic Capital Actions
GHC
M&A
New Projects/Investments
Debt Issuance
- Graham Holdings Company (GHC) experienced a "very good year" in 2025, with its largest businesses performing at or above expectations. The company's strategy focuses on driving free cash flow per share through owners' earnings growth, share repurchases, pension management, and acquisitions.
- In 2025, GHC undertook several strategic capital actions, including spending over $200 million to redeem the majority of mandatorily redeemable non-controlling interest in CSI. The company also acquired Hoover Architectural Solutions, partially funded by assuming $107.4 million in net pension obligations , and refinanced $400 million notes due in June 2026. GHC maintains a strong balance sheet, with net cash and securities exceeding $500 million at the end of Q3.
- Year-to-date through Q3 2025, GHC's adjusted operating cash flow increased by $3 million, reaching $310 million, primarily driven by strong performance in Kaplan, healthcare, and manufacturing, despite a $45 million reduction at Graham Media Group. Kaplan's revenue increased 4% and its adjusted operating cash flow rose 18% year-to-date. Graham Media Group anticipates record-breaking midterm spending in 2026.
8 hours ago
Graham Holdings Company (GHC) Discusses 2025 Performance, Strategic Acquisitions, and Segment Outlook at Investor Day
GHC
New Projects/Investments
Debt Issuance
Revenue Acceleration/Inflection
- Graham Holdings Company (GHC) reported a strong year-to-date 2025 for its Healthcare segment, with revenue increasing 36% and adjusted operating cash flow rising 46%. The company anticipates meaningful profitability growth in Healthcare in 2026 despite elevated investments.
- In 2025, GHC made significant capital allocation moves, including redeeming the majority of a non-controlling interest for over $200 million and acquiring Hoover Architectural Solutions, largely funded by assuming $107 million in pension liabilities. The company also refinanced $400 million in notes and issued $500 million in new bonds maturing in December 2033.
- While the Graham Media Group faced challenges with Q3 2025 revenues down 28% and operating income down 57% due to non-election year dynamics , the Framebridge business expanded its store count by approximately 40% and expects overall operating margin to improve by several thousand basis points from 2024 to 2025.
- As of September 30, 2025, GHC maintained a robust balance sheet with $1.236 billion in cash and securities against $732 million in debt, resulting in a net cash and securities position of $504 million.
9 hours ago
Graham Holdings Company Issues Senior Notes and Amends Credit Facility
GHC
Debt Issuance
- Graham Holdings Company issued $500 million aggregate principal amount of 5.625% senior unsecured notes due 2033 on November 24, 2025.
- The company entered into a new $400,000,000 revolving credit facility with a five-year maturity.
- Proceeds from the notes offering and new credit facility will be used to redeem outstanding 5.750% notes due 2026, refinance the existing revolving credit facility, and repay a $150 million term loan facility.
- The company is required to maintain a Total Net Leverage Ratio of not greater than 3.50 to 1.00 (or 4.00 to 1.00 for certain acquisitions) and a Consolidated Interest Coverage Ratio of not less than 3.00 to 1.00 as of the end of each fiscal quarter beginning December 31, 2025.
Nov 24, 2025, 9:32 PM
Graham Holdings Company Prices $500 Million Senior Notes Offering
GHC
Debt Issuance
Refinancing
- Graham Holdings Company (GHC) announced the pricing of a $500 million private offering of senior unsecured notes due 2033.
- The notes will have a coupon of 5.625% per annum, payable semi-annually, and were priced at 100% of principal amount.
- The company intends to use the net proceeds from this offering, along with borrowings from an amended $400 million revolving credit facility, to redeem its outstanding 5.750% notes due 2026, refinance existing revolving loans, and repay its $150 million term loan facility.
Nov 13, 2025, 10:08 PM
Graham Holdings Company Announces Proposed $500 Million Private Offering of Senior Notes
GHC
Debt Issuance
- Graham Holdings Company (GHC) announced a proposed $500 million private offering of senior unsecured notes due 2033, subject to market and other conditions.
- Concurrently, the company intends to amend and restate its revolving credit facility, increasing total commitments by lenders to $400 million.
- The net proceeds from the notes offering, combined with borrowings from the amended revolving credit facility, are intended to redeem all outstanding 5.750% notes due 2026, refinance existing revolving loans, and repay the existing $150 million term loan facility.
Nov 12, 2025, 12:45 PM
Graham Holdings Company Reports Q3 2025 Financial Results and Business Updates
GHC
Earnings
M&A
Share Buyback
- Graham Holdings Company reported increased revenue and net income attributable to common shares for both the third quarter and first nine months of 2025, with detailed figures provided below. Operating income, however, decreased in Q3 2025 but showed an increase for the first nine months of the year.
- The company completed the sale of World of Good Brands (WGB) and Hoover acquired Arconic Architectural Products, LLC, assuming $107.4 million in net pension obligations.
- Graham Holdings Company repurchased 3,978 shares of its Class B common stock for $3.5 million during the first nine months of 2025, with 462,482 shares remaining authorized for repurchase as of September 30, 2025.
| Metric | Q3 2024 | Q3 2025 | 9M 2024 | 9M 2025 |
|---|---|---|---|---|
| Revenue ($USD Millions) | $1,207.2 | $1,278.9 | $3,545.1 | $3,660.5 |
| Operating Income ($USD Millions) | $81.6 | $67.1 | $143.0 | $187.4 |
| Net Income Attributable to Common Shares ($USD Millions) | $72.5 | $122.9 | $175.8 | $183.6 |
| Diluted EPS ($USD) | $16.42 | $27.91 | $39.49 | $41.75 |
Oct 29, 2025, 12:31 PM
Graham Holdings Reports Third Quarter 2025 Earnings
GHC
Earnings
M&A
Share Buyback
- Graham Holdings Company reported revenue of $1,278.9 million for the third quarter of 2025, a 6% increase from Q3 2024, and $3,660.5 million for the first nine months of 2025, up 3% from the prior year period.
- Net income attributable to common shares for Q3 2025 was $122.9 million ($27.91 per share), significantly higher than $72.5 million ($16.42 per share) in Q3 2024. For the first nine months of 2025, net income was $183.6 million ($41.75 per share), compared to $175.8 million ($39.49 per share) in the same period of 2024.
- Operating income for Q3 2025 decreased to $67.1 million from $81.6 million in Q3 2024, while adjusted operating cash flow (non-GAAP) also declined to $110.1 million from $126.1 million. However, for the first nine months of 2025, operating income increased to $187.4 million from $143.0 million, and adjusted operating cash flow slightly increased to $309.5 million from $307.4 million.
- As of September 30, 2025, the company held $1,242.9 million in cash, marketable equity securities, and other investments, with $731.9 million in borrowings outstanding. During the first nine months of 2025, 3,978 shares of Class B common stock were repurchased for $3.5 million.
- The company engaged in acquisitions and dispositions, including the sale of World of Good Brands, the acquisition of Arconic Architectural Products, LLC, the closure of an Ourisman Jeep dealership, and the acquisition of a Honda automotive dealership.
Oct 29, 2025, 12:30 PM
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