Graham Holdings Co

Latest Results (07.08.2024):

Share Repurchase

In the fourth quarter of 2023, Graham Holdings Co purchased a total of 100,263 shares of its Class B common stock at a cost of $62.1 million. As of December 31, 2023, there were 4,478,810 shares outstanding. The company has remaining authorization to acquire up to 236,403 shares of Class B common stock.

Pension Plan

At December 31, 2023, Graham Holdings Co had a pension surplus of $2,113.6 million, reported as Prepaid Pension Cost in the Company’s Consolidated Balance Sheet. This is an increase from $1,658.0 million at December 31, 2022.

Overall Company Results

Graham Holdings Co reported net income attributable to common shares of $205.3 million ($43.82 per share) for the year ended December 31, 2023, compared to $67.1 million ($13.79 per share) for the year ended December 31, 2022. For the fourth quarter of 2023, net income attributable to common shares was $53.3 million ($11.72 per share), compared to $6.2 million ($1.28 per share) for the same period of 2022.

Education Division

For the fourth quarter of 2023, Graham Holdings Co's education division revenue totaled $395.5 million, up 9% from $361.8 million for the same period of 2022. Kaplan reported operating income of $21.5 million for the fourth quarter of 2023, compared to $25.2 million in the fourth quarter of 2022.

Television Broadcasting

In the fourth quarter of 2023, Graham Holdings Co's television broadcasting revenue decreased 19% to $124.6 million, from $154.7 million in 2022. This decline was primarily due to a $34.0 million drop in political advertising revenue and a small decline in retransmission revenues, partially offset by increased digital advertising revenues.