Graham Holdings - GHC STOCK NEWS

Graham Holdings Company (NYSE: GHC) has announced its 2023 Annual Meeting of Shareholders, scheduled for May 4, 2023, at 8:30 a.m. (ET). This meeting will occur in-person in Arlington, Virginia, and will also be accessible via webcast. Shareholders and plan participants can submit questions ahead of time through the company's investor relations email. Additional information regarding the meeting and presentation materials is available on the company’s website at www.ghco.com.

Stillman College, an HBCU, has announced a partnership with Kaplan to provide free test preparation courses for graduate-level admissions exams, including the GRE®, GMAT®, LSAT®, and MCAT®. This initiative aims to enhance opportunities for underrepresented students, making essential test prep accessible at no cost. Kaplan brings over 85 years of experience in standardized test preparation. The collaboration aligns with Stillman College's commitment to student success and supports its strategic investment in student resources. The All Access program also includes partnerships with other universities, underscoring its broader impact in higher education.

Kaplan has partnered with Junior Achievement (JA) to provide educational programs aimed at prepping JA students for career success. Key initiatives include the Securities Industry Essentials (SIE) credential program, aimed at aiding students entering the financial sector, along with opportunities at Purdue Global for affordable online degrees, offering up to 20% tuition reductions. Furthermore, JA participants will receive a 15% discount on Kaplan’s SAT prep courses. This collaboration aligns with JA's mission to equip young people with essential skills for economic success.

Graham Holdings Company (NYSE: GHC) has announced the transition of Donald E. Graham from Chairman of the Board to Chairman Emeritus, with Anne Mulcahy elected as the new Chair effective May 2023. Mulcahy, a long-time board member and former Chairman and CEO of Xerox Corporation, is recognized for her successful turnaround of Xerox. Timothy J. O'Shaughnessy, CEO, praised Mulcahy's extensive knowledge of the company's business and culture. Mulcahy also holds directorships at Johnson & Johnson and LPL Financial, showcasing her broad experience and leadership capabilities.

HelloFresh has partnered with Kaplan to provide GED courses at no cost for its hourly workers, aiming to help them achieve their high school equivalency diploma. Employees can choose between self-paced and live online courses. This initiative aligns with HelloFresh's commitment to employee development and education. Kaplan emphasizes the value of education and professional advancement linked to GED completion, with 97% of U.S. colleges and employers accepting the credential. Since 1942, over 20 million people have earned a GED, with graduates typically earning $9,000 more annually than those without.

NEW YORK – The Creating Pathways and Access for Student Success Foundation (CPASS) has partnered with Kaplan to provide prep courses for medical and dental school entrance exams, including the MCAT® and DAT®. This initiative aims to assist underrepresented Illinois students aspiring for STEM careers. Recipients will gain access to CPASS's academic support in key subjects and professional development workshops. The program reflects CPASS’s commitment to increase diversity in healthcare professions. Kaplan's involvement emphasizes its dedication to supporting educational access for underrepresented groups. This collaboration is anticipated to expand to reach more students in the summer.

Graham Holdings Company (NYSE: GHC) reported a substantial decline in net income for the year ended December 31, 2022, totaling $67.1 million ($13.79 per share), down from $352.1 million ($70.45 per share) in 2021. Excluding specific items, net income was $287.2 million ($59.03 per share) for 2022, compared to $162.6 million ($32.53 per share) in the prior year. Revenues rose 23% to $3.92 billion, driven by growth across all divisions. However, the company faced challenges including $129 million in impairment charges and a significant operating loss of $54.9 million in Q4 2022. Highlights included increased revenue from education and automotive divisions, while healthcare results were impacted by increased costs and expenses.