Graham Holdings Company Reports First Quarter Earnings

Graham Holdings Company reported its financial results for the first quarter of 2026, with revenue increasing by 6% to $1,236.0 million compared to the first quarter of 2025. Operating income rose to $57.8 million from $47.5 million in the prior year's quarter. The company also reported adjusted operating cash flow of $112.9 million, up from $88.0 million in Q1 2025. In a significant development, Graham Holdings Company announced an agreement to sell the Kaplan Languages Group (KLG) for an expected closing date of May 1, 2026, and recorded a $19.0 million pre-tax impairment charge related to this business. The company also acquired Covenant Home Health in March 2026. As of March 31, 2026, the company had $822.0 million in outstanding borrowings and $1,171.8 million in cash, marketable equity securities, and other investments. Net income attributable to common shareholders was $29.1 million ($6.62 per share) for the quarter, compared to $23.9 million ($5.45 per share) in Q1 2025. Excluding certain items, adjusted net income was $73.9 million ($16.79 per share) for Q1 2026, versus $51.0 million ($11.64 per share) in Q1 2025.