Gray Media (GTN) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, February 26, 2026 astatine 11:18 AM CST 26 min read

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Thursday, Feb. 26, 2026 astatine 11 a.m. ET

• Chairman and Chief Executive Officer — Hilton Hatchett Howell

• President and Co-Chief Executive Officer — Donald Patrick LaPlatney

• Executive Vice President and Chief Financial Officer — Jeffrey R. Gignac

• Executive Vice President and Chief Legal and Development Officer — Kevin P. Latek

• Executive Vice President, Chief Operating Officer, and Chief Diversity Officer — Sandy Breland

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Today, we filed with the SEC our Form 8-K, our 4th fourth net release, and updated slides. Later today, we volition record with the SEC our yearly study connected Form 10-K. Net retransmission gross and definite leverage ratios are among the non-GAAP metrics we whitethorn reference. These metrics are not meant to regenerate GAAP measurements but are provided arsenic supplements to assistance the nationalist successful its investigation and valuation of our company. Further discussions and reconciliations of the company's non-GAAP fiscal measures to comparable GAAP fiscal measures tin beryllium recovered connected our website. All statements and comments made by absorption during this league call, different than statements of humanities facts, should beryllium deemed forward-looking statements.

These forward-looking statements are taxable to a fig of risks and uncertainties. Actual results successful the aboriginal could disagree from those described successful the forward-looking statements arsenic a effect of assorted important factors that are contained successful our astir caller filings with the SEC. We undertake nary work to update oregon revise immoderate forward-looking statements, whether arsenic a effect of caller information, aboriginal events, oregon otherwise. Or revise immoderate forward-looking statements, whether arsenic a effect of caller information, aboriginal events, oregon otherwise. I present instrumentality the telephone to Hilton.

Hilton Hatchett Howell: Thank you, Alan. Today, we are precise pleased to denote that our results for 2025 compared precise favorably to our antecedently issued guidance for some revenues and expenses. Total gross successful 2025 was $792 million, supra the precocious extremity of our guidance for the quarter. Total operating expenses earlier depreciation, amortization, impairment, and summation oregon nonaccomplishment connected disposal of assets successful the 4th fourth were $618 million, which was $5 cardinal beneath the debased extremity of our guidance. Notably, wrong these results, our broadcasting expenses really declined arsenic compared to 4th fourth 2024. On a full-year basis, broadcasting expenses declined by $78 million, oregon astir 3%, successful 2025 arsenic compared to 2024.