Gray Television Earnings: What To Look For From GTN

Local television broadcasting and media company Gray Television (NYSE:GTN) will be announcing earnings results this Thursday morning. Here’s what you need to know.

Gray Television met analysts’ revenue expectations last quarter, reporting revenues of $749 million, down 21.2% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations.

This quarter, the market is expecting Gray Television’s revenue to decline 25.3% year on year, a reversal from the 20.9% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gray Television has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Gray Television’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 2%, beating analysts’ expectations by 1.8%, and AMC Networks reported flat revenue, topping estimates by 1.6%. FOX traded down 6.2% following the results while AMC Networks was also down 2.3%.

The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the consumer discretionary stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.3% on average over the last month. Gray Television is up 8.1% during the same time and is heading into earnings with an average analyst price target of $6.40 (compared to the current share price of $4.69).