E.W. Scripps (NASDAQ:SSP) Posts Earnings Results

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

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 Performance

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

Insider Buying and Selling at E.W. Scripps

In related news, major shareholder Molly E. Mccabe sold 142,970 shares of the business’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 transaction, the insider owned 123,523 shares of the company’s stock, valued at approximately $429,860.04. The trade was a 53.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 326,675 shares of company stock worth $1,117,887. 5.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. bought a new stake in shares of E.W. Scripps in the third quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. increased its position in E.W. Scripps by 67.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 14,923 shares of the company’s stock worth $37,000 after acquiring an additional 5,992 shares during the period. Oxford Asset Management LLP bought a new position in E.W. Scripps during the second quarter worth $46,000. Bank of Montreal Can acquired a new position in E.W. Scripps during the 4th quarter valued at $64,000. Finally, Squarepoint Ops LLC acquired a new position in E.W. Scripps during the 3rd quarter valued at $42,000. 67.81% of the stock is owned by institutional investors.

E.W. Scripps News Summary

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research raised E.W. Scripps from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded E.W. Scripps to a “hold” rating in a report on Saturday, August 1st. Benchmark decreased their target price on E.W. Scripps from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of E.W. Scripps in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.95.

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.