Fri, Nov. 6, 11:19 AM
- E.W. Scripps (NYSE:SSP) has slid today, -6.6%, after a Q3 earnings report where an adjusted break-even result became a $24.4M loss after an impairment charge to its digital business.
- The company says that since it acquired its digital product Newsy, it's seen slow revenue growth despite recent momentum with Apple TV and Comcast's Watchable. Investing in it as an over-the-top platform led Scripps to record a n impairment to goodwill.
- Operating revenue by segment: Television, $157.4M (up 35.2%); Radio, $20.4M (new); Digital, $10.9M (up 102.8%); Syndication and other, $972K (down 27.8%).
- For Q4, management sees TV revenue dropping in the low to mid-teens (political revenue expected of $4M vs. $43.9M last year); radio revenue down mid-single digits; and digital revenue up in the mid-30% range.
- Press Release
Fri, Nov. 6, 7:33 AM
Thu, Nov. 5, 5:30 PM
Fri, Aug. 7, 11:31 AM
- E.W. Scripps (NYSE:SSP) is up 3.7% after posting a wider Q2 loss (driven by restructuring costs) in its first quarter reporting under new categories, following the April 1 merger/spinoff with Journal Media Group that placed broadcast properties with Scripps.
- Pre-spinoff newspaper results are now reported as discontinued operations.
- Revenues by segment: Television, $167.4M (up 50.3%); Radio, $19.4M (new); Digital, $8.6M (up 58%); Syndication and Other, $2.7M (down 6.1%). In P&L, the company lost $4.9M in Digital and $1M in Syndication and Other, but drew a $4.9M profit from Radio and a $44.6M profit in TV.
- Results in TV were boosted by retransmission revenues that rose $13.5M to $36M, offsetting a decline in political advertising (down $4.7M to $2.2M).
- For Q3, management says it expects TV revenue down mid single digits (prior year had $21M political revenue) and expenses up high single digits; radio revenue flat to down low single digits, and expenses to rise low single digits; and digital revenue (boosted by its Midroll acquisition) to be up more than 40% and expenses up mid-20s.
- Press Release
Fri, Aug. 7, 7:34 AM
Thu, Aug. 6, 5:30 PM
Fri, May 8, 5:28 PM
- E.W. Scripps (NYSE:SSP) finished down 0.8% today after its first quarterly report as primarily a TV-station holder, following its merger/spinoff with the now-Journal Media Group.
- The transaction reduced EPS by about $0.07; the company recorded a loss of $0.09/share.
- Newspaper operating revenues fell 7.1%, to $91.5M, but the operation grew profit to $9.1M from $8.6M.
- Television operating revenues were up 17% to $120M, driven by retransmission revenue that more than doubled, along with revenue from two stations acquired from Granite last year.
- On April 30, the company had cash and equivalents of $123M against debt of $409M.
- Beginning next quarter, the company will report in four segments: Television, radio, digital, and syndication and other.
- Press Release
Fri, May 8, 8:09 AM
Thu, May 7, 5:30 PM
Wed, Mar. 4, 8:58 AM
- E.W. Scripps (NYSE:SSP) posted lackluster earnings for Q4 as TV results boosted by midterm political ads couldn't shake the drag from newspapers.
- The company missed on top and bottom lines. Income from operations before taxes of $18.1M, up from $7.1M. EPS of $0.27 was impacted by acquisition-integration costs and write-offs totaling about $0.11/share.
- Revenue breakouts: Television, $147M (up 28%); Newspapers, $95M (down 7.9%); Shared services/corporate (includes investment in digital ops), $15.1M (up 2%).
- Cash and equivalents at year's end of $158M vs. total debt of $198M.
- Along with shareholders of Journal Communications (NYSE:JRN), the company is set for a March 11 vote to merge and combine their broadcast operations in one company (to be called E.W. Scripps) and newspaper ops in the other (to be called Journal Media Group).
- The company isn't providing guidance (and hasn't been repurchasing shares) due to the Journal transaction.
- Conference call at 9 a.m. ET.
- Press release
Wed, Mar. 4, 7:32 AM
Tue, Mar. 3, 5:30 PM
Tue, Feb. 3, 10:17 AM
- The New York Times Co. (NYSE:NYT) is up 5.9% on news of its Q4 earnings beat.
- Digital ad growth of 19% is seen as encouraging as the company wrestles with slipping print advertising revenue.
- News peers are also trading higher today: (GCI +2.8%), (SSP +2.9%), (LEE +3.4%), (AHC +2.5%).
- The NYT conference call comes up at 11 a.m.
Nov. 7, 2014, 7:39 AM
Nov. 6, 2014, 5:30 PM
Aug. 8, 2014, 7:51 AM
The E W Scripps Co is a media enterprise with interests in television stations, newspapers, and local and national digital media sites. It operates in three segments namely television, newspaper and syndication.
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