Gray Media Raises Low End of Third-Quarter Revenue Guidance
Dow Jones2026/09/28 10:36By Colin Kellaher
Gray Media raised the low end of its third-quarter revenue guidance, as the multimedia company is getting a boost from higher-than-expected spending on political advertisements.
Gray on Monday said it now expects quarterly revenue of $950 million to $965 million, up from a prior forecast of $935 million to $965 million.
Analysts polled by FactSet, on average, are expecting Gray to post third-quarter revenue of $952 million.
The Atlanta company raised its quarterly forecast for political advertising revenue to $188 million to $195 million from $165 million to $185 million, and said it now expects core advertising revenue for the quarter will be flat to down 1%, compared with prior guidance of being roughly flat.
Gray said it is providing the updated guidance in connection with lender meetings to potentially refinance its credit facility, adding that it expects to have no borrowings outstanding under the credit line at the end of the quarter.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 28, 2026 06:36 ET (10:36 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
JPMorgan optimistic about renewed capital inflows into tech stocks: lower positions and falling valuations create opportunities
The JPMorgan team of strategists believes that as position crowding decreases, earnings performance remains strong, and valuations become more realistic, technology stocks will regain some of the momentum lost since mid-year. Investors are expected to re-enter the sector.
Nvidia increases stock repurchase authorization by 150 billion dollars
VinFast schedules Q2 2026 results webcast
Vestis names Russell Tiejema CFO effective Sept. 28, 2026
Crypto prices
More
