10-K · February 11, 2026
GCI Liberty completed its Separation in 2025 and raised approximately $300 million in a fully subscribed rights offering (11,059,127 shares issued) to fund working capital, capex, debt repayment or strategic M&A. The…
Earnings analysis · 10-Q
GLIBK earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
GCI Liberty's Q1 2026 results reveal a revenue decline of 3.8% year-over-year, falling short of expectations, with EPS at $0.45 against an estimate of $1.21, representing a significant earnings surprise. The company…
Read full summary
GCI Liberty's Q1 2026 results reveal a revenue decline of 3.8% year-over-year, falling short of expectations, with EPS at $0.45 against an estimate of $1.21, representing a significant earnings surprise. The company continues to navigate economic challenges and rising operational costs, compounded by headwinds from regulatory uncertainties and competitive pressures.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.45
What stood out
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Revenue Decline Year-over-Year
Revenue decreased to $256 million, down from $266 million in Q1 2025, reflecting a 3.8% decline.
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Significant EPS Miss
Reported EPS was $0.45 compared to the estimated $1.21, marking a surprise of -62.8%.
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Cash Position Remains Solid
GCI Liberty ended Q1 with $435 million in cash and cash equivalents.
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Controlled Interest Expense
Interest expense decreased from $10 million in Q1 2025 to $8 million in Q1 2026 due to lower outstanding amounts.
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Increased Operating Costs
Operating income fell to a loss of $28 million compared to a profit in Q1 2025, driven by rising expenses.
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Acquisition Activity
The company is advancing with the $310 million Quintillion acquisition, with a $160 million term loan set to fund the transaction.
What to watch
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Regulatory Pressures
Continued legal challenges regarding the FCC's USF programs could significantly disrupt GCI’s revenue streams.
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Competitive Market Environment
Increased competition in Alaska may reduce market share and financial performance, impacting customer demand.
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Economic Conditions in Alaska
Economic dependency on volatile oil prices may adversely affect GCI's operational performance and customer affordability.
Management's outlook
Management did not provide explicit numeric guidance but cited ongoing economic pressures and competition.
Earlier filings 2
10-Q · November 5, 2025
GCI Liberty reported Q3 2025 revenue of $257.0M, down $5.0M from $262.0M in Q3 2024, while nine‑month revenue rose to $784.0M from $753.0M. The quarter includes a non‑cash impairment charge of $525.0M (goodwill and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.