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Graham Holdings Company — Third Quarter 2026 Earnings Summary

  • Revenue grew 4% year-over-year to $1,326.0 million in Q3 2026 and 6% to $3,864.5 million for the first nine months, driven by double-digit increases in television broadcasting, healthcare, and manufacturing, partially offset by a 14% decline in education.
  • Adjusted net income per diluted share rose to $18.77 in Q3 2026 from $14.08 in the prior year period, while GAAP net income per share decreased to $17.60 due to a shift from $84.8 million in net gains to $15.0 million in net losses on marketable equity securities.
  • The company completed the $127.5 million sale of Dublin Business School in October 2026 and returned $198.6 million to shareholders via share repurchases during the first nine months of 2026.
  • Adjusted operating cash flow increased 11% to $121.8 million in Q3 and 15% to $354.5 million for the first nine months, while the company maintained a strong liquidity position with $1,246.2 million in cash and investments at September 30, 2026.
Company
GRAHAM HOLDINGS CO
Sector
Consumer Defensive
Industry
Education & Training Services