Graham Holdings Q1 revenue rises 1% to $1.17 billion; GAAP EPS falls to $5.45
Graham Holdings reported first-quarter 2025 revenue of $1,165.9 million, up 1% from a year earlier, and operating income of $47.5 million, up from $35.4 million. Net income attributable to common shareholders fell to $23.9 million ($5.45 per diluted share) from $124.4 million ($27.72), mainly due to a $66.4 million interest expense from a fair value adjustment on a noncontrolling interest at Graham Healthcare Group. Excluding certain items, adjusted diluted EPS was $11.64, compared with $11.24 a year earlier.
Key points
- Revenue of $1,165.9 million, up 1% from $1,152.7 million; operating income of $47.5 million vs. $35.4 million
- GAAP net income attributable to common shareholders of $23.9 million ($5.45 per diluted share) vs. $124.4 million ($27.72) a year earlier
- Interest expense of $66.4 million tied to the fair value adjustment of the mandatorily redeemable noncontrolling interest at Graham Healthcare Group
- Adjusted diluted EPS (non-GAAP) of $11.64 vs. $11.24; on February 25, 2025, the company agreed to settle part of that noncontrolling interest for $205 million
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 30, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.