E.W. Scripps (NASDAQ:SSP) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• E.W. Scripps beat EPS estimates, reporting a quarterly loss of $0.34 per share versus the expected $0.53 loss, but revenue of $490.4 million fell short of the $511.7 million consensus.
• The company is accelerating its restructuring, targeting $100 million in annualized savings by year-end 2026 while expanding sports partnerships and forecasting $225 million–$250 million in political advertising revenue for 2026.
• Significant challenges remain, including a $1.1 billion impairment charge, declining advertising and distribution revenue, a 13% drop in Scripps Networks revenue, and increased net leverage of 4.9 times.

E.W. Scripps (NASDAQ:SSP - Get Free Report) announced its quarterly earnings data on Friday. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.19, Zacks reports. E.W. Scripps had a negative return on equity of 3.00% and a negative net margin of 58.02%.The firm had revenue of $490.40 million during the quarter, compared to the consensus estimate of $511.65 million.

Here are the key takeaways from E.W. Scripps' conference call:

• Transformation savings were accelerated; Scripps now expects $100 million in annualized run-rate savings by year-end 2026, while maintaining its longer-term target of $125 million–$150 million by 2028.
• The company expanded its sports strategy with new multi-year partnerships involving the Detroit Pistons, Nashville Predators and Women’s Volleyball World Cup, which management expects to support advertising and distribution growth.
• Political advertising is tracking toward a record $225 million–$250 million in 2026, above the $198 million generated during the 2022 midterm cycle; renewed Comcast and DirecTV agreements are also expected to improve net distribution revenue.
• Second-quarter results were pressured by a $1.1 billion non-cash impairment charge, Nielsen measurement changes, declining linear-TV viewing and weaker direct-response advertising. Scripps Networks revenue fell 13% and segment profit dropped to $26 million from $57 million.
• Local media core advertising declined 4.8% in the quarter, while temporary carriage blackouts drove a 13% drop in distribution revenue; net leverage increased to 4.9 times from 4.4 times in the prior quarter.

E.W. Scripps Stock Up 12.5%

NASDAQ SSP traded up $0.37 on Friday, reaching $3.32. The stock had a trading volume of 1,914,393 shares, compared to its average volume of 646,341. The business has a 50 day moving average price of $3.03 and a 200 day moving average price of $3.57. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 3.08. E.W. Scripps has a 1 year low of $2.02 and a 1 year high of $5.39. The company has a market capitalization of $303.91 million, a price-to-earnings ratio of -0.24 and a beta of 0.65.

Insiders Place Their Bets

In other news, major shareholder Molly E. Mccabe sold 142,970 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $3.48, for a total transaction of $497,535.60. Following the completion of the sale, the insider directly owned 123,523 shares of the company's stock, valued at $429,860.04. This trade represents a 53.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 326,675 shares of company stock valued at $1,117,887. Corporate insiders own 5.24% of the company's stock.

Hedge Funds Weigh In On E.W. Scripps

Hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in E.W. Scripps by 8.6% in the first quarter. Empowered Funds LLC now owns 316,113 shares of the company's stock valued at $936,000 after acquiring an additional 25,070 shares during the last quarter. Strs Ohio bought a new stake in E.W. Scripps in the first quarter worth approximately $117,000. Geode Capital Management LLC increased its stake in shares of E.W. Scripps by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,516,298 shares of the company's stock worth $4,459,000 after purchasing an additional 10,957 shares during the last quarter. Creative Planning increased its stake in shares of E.W. Scripps by 111.4% during the 2nd quarter. Creative Planning now owns 49,518 shares of the company's stock worth $146,000 after purchasing an additional 26,090 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of E.W. Scripps by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 152,443 shares of the company's stock valued at $448,000 after purchasing an additional 19,393 shares in the last quarter. Institutional investors and hedge funds own 67.81% of the company's stock.

Wall Street Analyst Weigh In

SSP has been the topic of several research analyst reports. Wall Street Zen raised E.W. Scripps to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings restated a "sell (d)" rating on shares of E.W. Scripps in a report on Friday, May 29th. Benchmark decreased their price target on shares of E.W. Scripps from $10.00 to $8.00 and set a "buy" rating for the company in a report on Monday, May 11th. Finally, Zacks Research raised shares of E.W. Scripps from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.95.

Trending Headlines about E.W. Scripps

Here are the key news stories impacting E.W. Scripps this week:

• Positive Sentiment: Scripps said it is targeting $100 million in annualized cost savings by year-end, a plan that could improve profitability and cash flow as the company restructures its local television operations. Scripps targets $100 million in annual run-rate savings
• Positive Sentiment: Management forecast approximately $225 million to $250 million in political advertising revenue, providing an important potential boost during the 2026 election cycle. Political advertising and savings outlook
• Positive Sentiment: Second-quarter adjusted results were viewed as better than feared in some estimates: Scripps reported a loss of $0.34 per share, compared with a consensus estimate of a $0.53 loss in one widely followed estimate. Management also highlighted artificial intelligence and a 24-hour streaming-news model as opportunities to reduce operating costs and expand content distribution. Scripps reports second-quarter financial results
• Neutral Sentiment: The company is implementing a transformation plan centered on AI-enabled local news production and streaming. The strategy could improve efficiency, but its effect on audience growth and long-term revenue remains unproven. Scripps layoffs and AI strategy
• Negative Sentiment: Second-quarter revenue was $490.4 million, below the approximately $511.7 million consensus estimate, while the company remained unprofitable. Some estimates also showed the per-share loss was worse than expected, underscoring continued earnings pressure. Scripps reports second-quarter loss
• Negative Sentiment: Scripps has cut roughly 12% of its workforce, primarily at local television stations. The layoffs may support the savings target but also highlight significant pressure on the traditional television business and execution risk from the restructuring. Scripps workforce reductions

E.W. Scripps Company Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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