Graham Holdings Company (GHC) AGM 2026 summary

Opening remarks and agenda

• Legal disclaimer and forward-looking statements highlighted, referencing SEC filings for risks.

• Meeting agenda included formal proceedings, management commentary, operational updates, director elections, and executive compensation vote.

• Introduction of board nominees and independent auditors; confirmation of quorum with high shareholder participation.

Financial performance review

• 2025 revenue grew 6% year-over-year, with healthcare and manufacturing gains offsetting automotive declines.

• Adjusted operating cash flow in Q1 2026 rose 28% to $113 million; 5-year CAGR for revenue and cash flow at 11.4% and 11.6%, respectively.

• Excluding Graham Media Group, operating cash flow grew at a 24.1% CAGR over five years.

• Balance sheet ended Q1 with a $344 million net cash and securities surplus; share repurchases resumed in Q1 2026.

Board and executive committee updates

• Ten directors nominated and elected, with seven by Class A and three by Class B shareholders.

• Executive compensation for 2025 approved by 96.27% of Class A shares.