Gray Media guides Q2 revenue above estimates

Gray Media (NYSE:GTN) on Tuesday forecast its second quarter total revenue to come in between $769M and $775M. The Seeking Alpha consensus estimate is $765.2M.

The company expects core advertising revenue for the current quarter to be between $360M and $362M. It previously guided revenue in the segment to decline in mid-single digits.

Retransmission consent revenue for Q2 was forecast to be between $368M and $369M. It previously guided between $369M and $371M.

It also expects to record a non-cash impairment charge of about $29M during the quarter, related to intangible assets associated with its Atlanta station, WANF.

The impairment charge is not expected to have a material impact on Gray’s ongoing operations or liquidity.

Source: Press Release