GHC earnings analysis
What we found in GHC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Graham Holdings Company reported a strong performance in Q1 2026, with revenues reaching $1.236 billion, up 6% from the prior year, accompanied by improved net income of $29.1 million. Segment growth was driven by education, television broadcasting, healthcare, and manufacturing, though automotive showed a decline. Despite significant impairment charges from the Kaplan Languages Group, the overall outlook remains positive with various segments anticipating continued growth.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 6% YoY
- Total revenue increased to $1.236 billion in Q1 2026 from $1.166 billion in Q1 2025.
- Improved EPS to $6.62
- Earnings per share rose to $6.62 from $5.45 in Q1 2025.
- Healthcare Division Soars 20%
- Healthcare revenue grew by 20%, from $173.7 million to $209.3 million, driven largely by CSI's expansion.
- Television Broadcasting Revenue Up 8%
- Television broadcasting revenue increased to $111.6 million, up from $103.6 million a year ago.
- Manufacturing Revenue Increases 28%
- Manufacturing revenue rose to $125.0 million, highlighting strong growth post-Acquisition.
- Significant Improvement in Equity Earnings
- Equity in earnings of affiliates rose sharply to $34.9 million compared to losses of $8.4 million in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Impairment Charges
- Q1 2026 included a $19.0 million impairment charge related to the Kaplan Languages Group.
- Growing Automotive Sector Challenges
- Automotive revenues decreased by 5%, from $280.9 million to $267.6 million, largely due to dealership closures.
- Market Volatility Impact on Securities
- GHC recorded net losses of $68.9 million on marketable equity securities in Q1 2026.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $6.62
- Segment
- Education
- Segment
- Healthcare
- Segment
- Television Broadcasting
- Segment
- Manufacturing
- Segment
- Automotive
- Segment
- Other Businesses
What they said about what is next.
Management anticipates continued revenue growth in healthcare and education sectors, particularly at Kaplan.
The filing reads better than the one before it.
What came before.
- 10-K · February 25, 2026
- Graham Holdings remains a diversified holding company with a large education franchise (Kaplan) and multiple other operating businesses (broadcasting, healthcare, manufacturing, automotive, media). Consolidated revenue…
- 10-Q · October 30, 2024
- Graham Holdings reported quarter revenue of $1,207.16M (up $95.64M / +8.6% year-over-year) and GAAP diluted EPS of $16.42 versus a loss of $(5.02) in Q3 2023. Gross margin expanded to ~31.5% (from ~29.7%) and operating…
- 10-Q · July 31, 2024
- Graham Holdings Company reported strong Q2 results with revenues of $1.19 billion, a 7.9% increase year-over-year, and a notable earnings surprise as diluted EPS came in at $-4.79 compared to an expected $8.74. The…
- 10-Q · August 2, 2023
- Graham Holdings reported quarterly revenue of $1,104,999,000 and delivered a strong earnings swing to diluted EPS of $25.89 compared with $(13.95) in the prior-year quarter, driven largely by a $78,648,000 net gain on…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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