Graham Holdings Co 8K

Graham Holdings Company reported higher second-quarter 2026 results, completed the sale of Kaplan Languages Group, executed a major pension annuity settlement generating a substantial noncash gain, recorded a large U.S. tax benefit with an associated global minimum tax accrual, and continued share repurchases while maintaining significant liquidity.

On July 30, 2026, Graham Holdings Company reported its financial results for the second quarter and first half of 2026, highlighting a 7% year-over-year increase in quarterly revenue to $1.30 billion and a 15% rise in operating income to $83.6 million, driven by strength in television broadcasting, healthcare, manufacturing, automotive and other businesses, partially offset by weakness in education. The company disclosed that it completed the sale of Kaplan Languages Group on May 1, 2026, following a previously recorded $19.0 million impairment and recognizing a $5.2 million loss on the sale in Q2, and that related restructuring and sale activity generated a $69.6 million U.S. income tax benefit, which in turn triggered a $19.2 million accrual for non-U.S. global minimum corporate top-up tax under emerging OECD Pillar Two rules. In June 2026, Graham Holdings settled $124.3 million of defined benefit pension obligations by purchasing an irrevocable group annuity contract for $113.9 million funded from plan assets, resulting in a $137.0 million pre-tax noncash settlement gain and transferring responsibility for payments to an insurance company for approximately 1,080 retirees and beneficiaries. The company also reported strong non-operating items, including $101.9 million of net gains on marketable equity securities in Q2, total borrowings of $900.4 million at a 5.7% average rate against $1.30 billion of cash, marketable equity securities and other investments as of June 30, 2026, and repurchases of 110,471 Class B shares for $122.0 million during the first half of 2026, leaving 4,251,268 shares outstanding and authorization to repurchase an additional 352,011 shares.

Filing Facts

CIK

104889

Ticker

-

Form

8K

Source Type

sec

Accession

0001628280-26-050829

Alert Tier

6