GTN Q3 FY2026 earnings: results, stock reaction and implied move

Reported results

Total revenue was $972 million for the third quarter of 2026, a 30% increase compared to third quarter 2025.
GAAP net income was $78 million for the third quarter of 2026, compared to a GAAP net loss of $10 million for the third quarter of 2025.
Core advertising revenue was $358 million for the third quarter of 2026, an increase of 1% compared to third quarter 2025.
Political advertising revenue was $198 million for the third quarter of 2026, compared to $8 million in the third quarter of 2025.
Non-GAAP Net Retransmission Revenue was $150 million for the third quarter of 2026, an increase of 14% from $132 million in the third quarter of 2025.
Non-GAAP Adjusted EBITDA was $319 million for the third quarter of 2026, an increase of 97% compared to $162 million in the third quarter of 2025.

For the fourth quarter ending December 31, 2026, expected total revenue (less agency commissions) is between $1,115 million and $1,140 million, and full-year 2026 expected total revenue is between $3,695 million and $3,720 million.
For the fourth quarter ending December 31, 2026, expected political advertising revenue is between $319 million and $329 million, and full-year 2026 expected political advertising revenue is between $630 million and $640 million.
For the fourth quarter ending December 31, 2026, expected Net Retransmission Revenue is between $152 million and $155 million, and full-year 2026 expected Net Retransmission Revenue is between $594 million and $597 million.
For the full year ending December 31, 2026, expected capital expenditures are between $110 million and $120 million, and interest expense is estimated at $450 million.

The figures above come from the earnings release the company filed with the SEC on 2026-11-06 (8-K, Item 2.02). Read the original filing on sec.gov.