Gray Media (GTN) issued an upward revision to its financial outlook for the third quarter ending September 30, 2026, driven by stronger-than-expected political advertising demand and improved cost control. While the company noted a slight softening in core advertising, the robust political environment and lower corporate spending prompted an increase in its total revenue floor and narrowed the expected range upward.
Key Highlights
- Political advertising revenue guidance raised to $188 million–$195 million, up from the previous range of $165 million–$185 million.
- Total revenue guidance floor lifted to $950 million, resulting in an updated quarterly range of $950 million–$965 million.
- Corporate and administrative expenses lowered to $30 million–$35 million, down from the prior outlook of $35 million–$40 million.
- Core advertising growth expectations adjusted to a range of -1% to flat, compared to the previously issued guidance of flat.