Graham (GHM) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 72.22%. A quarter ago, it was expected that this maker of vacuum and heat-transfer equipment would post earnings of $0.18 per share when it actually produced earnings of $0.33, delivering a surprise of 83.33%.Over the last f ...

Revenue Performance - Revenue for the third quarter of 2024 was $1,207.2 million, up 9% from $1,111.5 million in the third quarter of 2023[2] - Revenue for the first nine months of 2024 was $3,545.1 million, up 9% from $3,248.1 million in the first nine months of 2023[3] - Total operating revenues for the company grew by 9% to $1.21 billion in Q3 2024 from $1.11 billion in Q3 2023[16] - Education division operating revenues increased by 6% to $438.09 million in Q3 2024 compared to $411.84 million in Q3 2023[16] - Television broadcasting operating revenues grew by 25% to $145.42 million in Q3 2024 from $116.11 million in Q3 2023[16] - Healthcare division operating revenues surged by 34% to $155.41 million in Q3 2024 compared to $116.16 million in Q3 2023[16] - Manufacturing division operating revenues declined by 13% to $95.39 million in Q3 2024 from $109.22 million in Q3 2023[16] - Automotive division operating revenues increased by 6% to $289.39 million in Q3 2024 compared to $272.02 million in Q3 2023[16] - Kaplan International operating revenues increased by 11% to $277.0 million in Q3 2024 compared to $250.0 million in Q3 2023[19] - Higher Education operating revenues grew by 5% to $85.7 million in Q3 2024 from $81.9 million in Q3 2023[19] - Supplemental Education operating revenues decreased by 3% to $76.1 million in Q3 2024 from $78.3 million in Q3 2023[19] - Total operating revenues for the Education Division increased by 6% to $438.1 million in Q3 2024 from $411.8 million in Q3 2023[19] Operating Income and Cash Flow - Operating income for the third quarter of 2024 was $81.6 million, compared to an operating loss of $57.1 million in the third quarter of 2023[2] - Operating income for the first nine months of 2024 was $143.0 million, compared to $28.6 million in the first nine months of 2023[3] - Adjusted operating cash flow (non-GAAP) for the third quarter of 2024 was $126.1 million, up from $83.7 million in the third quarter of 2023[2] - Adjusted operating cash flow (non-GAAP) for the first nine months of 2024 was $307.4 million, up from $255.3 million in the first nine months of 2023[3] - Education division operating income increased by 17% to $34.89 million in Q3 2024 compared to $29.86 million in Q3 2023[16] - Television broadcasting operating income surged by 94% to $61.91 million in Q3 2024 from $31.95 million in Q3 2023[16] - Healthcare division operating income increased by 91% to $14.26 million in Q3 2024 compared to $5.97 million in Q3 2023[16] - Total operating income for the company was $81.65 million in Q3 2024 compared to a loss of $57.11 million in Q3 2023[16] - Kaplan International operating income increased by 15% to $25.5 million in Q3 2024 from $22.2 million in Q3 2023[19] - Higher Education operating income grew by 34% to $11.4 million in Q3 2024 from $8.5 million in Q3 2023[19] - Supplemental Education operating income increased by 15% to $11.2 million in Q3 2024 from $9.7 million in Q3 2023[19] - Adjusted Operating Cash Flow (non-GAAP) doubled to $4.4 million in Q3 2024 from $2.2 million in Q3 2023[19] - Total operating income before amortization and impairment increased by 13% to $37.3 million in Q3 2024 from $33.1 million in Q3 2023[19] - Adjusted Operating Cash Flow (non-GAAP) is calculated as Operating Income before Amortization of Intangible Assets and Impairment of Long-Lived Assets[20] Net Income and Earnings Per Share - Net income attributable to common shares for the third quarter of 2024 was $72.5 million ($16.42 per share), compared to a net loss of $23.0 million ($5.02 per share) in the third quarter of 2023[7] - Net income attributable to common shares for the first nine months of 2024 was $175.8 million ($39.49 per share), compared to $152.0 million ($32.14 per share) in the first nine months of 2023[7] - Net Income attributable to Graham Holdings Company Stockholders for Q3 2024 was $72.5 million, compared to a net loss of $23.0 million in Q3 2023[22] - Adjusted Net Income (non-GAAP) for Q3 2024 was $76.1 million, compared to $48.9 million in Q3 2023[22] - Diluted income per common share, adjusted (non-GAAP) for Q3 2024 was $17.25, compared to $10.45 in Q3 2023[22] - Net Income attributable to Graham Holdings Company Stockholders for the nine months ended September 30, 2024 was $175.8 million, compared to $152.0 million in the same period of 2023[23] - Adjusted Net Income (non-GAAP) for the nine months ended September 30, 2024 was $183.5 million, compared to $150.8 million in the same period of 2023[23] - Diluted income per common share, adjusted (non-GAAP) for the nine months ended September 30, 2024 was $41.20, compared to $31.87 in the same period of 2023[23] Gains and Impairments - The Company recognized $30.5 million and $154.3 million in net gains on marketable equity securities in the third quarter and first nine months of 2024, respectively[5] - The Company estimates a one-time pre-tax settlement gain of approximately $700 million in the fourth quarter of 2024 due to the purchase of an irrevocable group annuity contract[10] - Goodwill and other long-lived asset impairment charges for Q3 2024 were $626 thousand, compared to $98.3 million in Q3 2023[22] - Net gains on marketable equity securities for the nine months ended September 30, 2024 were $154.3 million, compared to $113.4 million in the same period of 2023[23] - Gain on sale of certain businesses and websites for the nine months ended September 30, 2024 was $7.2 million, compared to $0 in the same period of 2023[23] Interest Expense - Interest expense related to the fair value adjustment of the mandatorily redeemable noncontrolling interest for the nine months ended September 30, 2024 was $85.1 million, compared to $1.4 million in the same period of 2023[23]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-06714 GRAHAM HOLDINGS COMPANY (Exact name of registrant as specified in its charter) Delaware 53-0182885 (State or other jurisdiction of incorporation or organization) (I. ...

Investment Style and Strategy - The investor follows a contrarian investment style, focusing on highly risky and often illiquid options [1] - The investment portfolio is split approximately 50%-50% between shares and call options [1] - The investment timeframe typically ranges between 3-24 months [1] - The investor prefers stocks that have experienced a recent sell-off due to non-recurrent events, especially when insiders are buying shares at the new lower price [1] Screening and Analysis Process - The investor screens thousands of stocks, primarily in the US, using fundamental analysis to assess company health, leverage, and financial ratios compared to sector and industry medians and averages [1] - Professional background checks are conducted on insiders who purchased shares after a recent sell-off [1] - Technical analysis is used to optimize entry and exit points, with a focus on multicolor lines for support and resistance levels on weekly charts [1] Portfolio Allocation and Preferences - The investor occasionally buys shares to avoid being categorized as a degenerate by fellow investors, maintaining the 50%-50% allocation between shares and call options [1] - The investor may also own shares in less stable markets, referred to as "banana republics" [1]

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Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Is Graham (GHM) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.Graham is a member of our Industrial Products group, which includes 212 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 differ ...

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