Graham Holdings Stock Price, News & Analysis

Haig Partners LLC advised Lustine Automall in its sale to Graham Ourisman Automotive, a venture between Graham Holdings Company (NYSE: GHC) and Chris Ourisman. The acquisition includes Lustine Toyota and Lustine Chrysler-Dodge-Jeep-Ram located in Woodbridge, VA. Haig Partners has facilitated the sale of 15 dealerships in Virginia and 29 nationwide in 2022. The dealerships are expected to thrive in the competitive DC automotive market, benefiting from strong product offerings from Toyota and Chrysler-Dodge-Jeep-Ram.

Graham Holdings Company (NYSE: GHC) has acquired a Toyota dealership and a Chrysler-Dodge-Jeep-Ram dealership in Woodbridge, VA, from the Lustine Automotive Group. The financial terms of the deal were not disclosed. Christopher J. Ourisman will lead the operations at these dealerships with a team of industry professionals. Graham Holdings now owns five automotive dealerships, including locations in Rockville, Tysons Corner, Bethesda, and Manassas, VA, enhancing its market presence in the automotive sector.

The SEAL Future Foundation (SFF) has enhanced its partnership with Kaplan to provide U.S. Navy SEALs with Kaplan Credegree programs, allowing them to earn industry-recognized credentials at no cost. The programs include Certified Financial Planner, Certified Public Accountant, and many more, aimed at boosting job readiness. SFF's senior director emphasized the importance of these credentials for transitioning SEALs, while Kaplan's director expressed excitement in helping more veterans secure professional credentials. This initiative is aimed at preparing veterans for successful civilian careers.

Cleveland State University has become the first public institution in Ohio to offer free graduate exam preparation for its students. In partnership with Kaplan, students can access prep courses for the GRE, GMAT, LSAT, and MCAT, along with professional certifications. This initiative supports CSU's mission to enhance social mobility and reduce barriers to graduate education. A notable 40% increase in freshmen from the Cleveland Metropolitan School District was observed last fall, showcasing CSU's commitment to local communities.

Xavier University of Louisiana has announced a partnership with Kaplan to offer free prep courses for graduate admissions exams like GRE, GMAT, LSAT, and MCAT to all undergraduate students. This initiative aims to enhance student success without any out-of-pocket expenses. Xavier University, recognized for graduating a high number of African American medical professionals, aims to further support students in pursuing advanced degrees and professional certifications. The partnership aligns with Xavier's mission to foster a more equitable society through education.

Kaplan’s new service, Career Core, has been recognized by Fast Company in its 2022 World Changing Ideas Awards for its innovative approach to preparing students for the workforce. This initiative offers students access to industry-specific advisors and comprehensive career development resources. Designed to enhance job readiness, Career Core aims to support diverse student needs and boost operational efficiency for institutions. Kaplan seeks to expand its partnerships to further enhance this service, which generates over $1 billion in economic impact for university partners.

Graham Holdings Company (NYSE: GHC) has declared a quarterly dividend of $1.58 per share. This dividend, which reflects the company's commitment to returning value to its shareholders, will be payable on August 5, 2022, to those recorded on July 19, 2022. This decision underscores GHC's financial stability and ongoing dedication to shareholder returns.

Tutera Senior Living & Health Care and Residential Home Health have established a joint venture in which Residential will manage Tutera's Continua Home Health division.

This partnership aims to enhance home health care services across Eastern Kansas and Western Missouri, marking Residential's entry into these markets. All Continua employees will be retained, and Residential is set to provide improved operational efficiencies and clinical innovations.

This collaboration aims to improve patient outcomes and streamline home health services for both organizations.

Graham Holdings Company (NYSE: GHC) reported a net income of $95.6 million ($19.45 per share) for Q1 2022, down from $112.5 million ($22.44 per share) in Q1 2021. Excluding certain items, net income was $62.7 million ($12.76 per share), a 35% increase from $46.3 million ($9.25 per share) year-over-year. Revenue rose 28% to $914.7 million, driven by growth across several sectors, particularly education and broadcasting. However, the healthcare segment faced challenges due to increased operational costs. The company declared an effective tax rate of 26.9% for both quarters.