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

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

Shares of E.W. Scripps stock traded up $0.37 during midday trading on Friday, hitting $3.32. The company 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 has a market capitalization of $303.91 million, a P/E ratio of -0.24 and a beta of 0.65. The company has a 50 day moving average of $3.03 and a 200 day moving average of $3.57. E.W. Scripps has a 52-week low of $2.02 and a 52-week high of $5.39.

Insiders Place Their Bets

In other E.W. Scripps news, major shareholder Molly E. Mccabe sold 142,970 shares of E.W. Scripps stock in a transaction on 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 in the company, valued at approximately $429,860.04. The trade was a 53.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 326,675 shares of company stock worth $1,117,887. 5.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On E.W. Scripps

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in E.W. Scripps by 1.4% in the 4th quarter. Invesco Ltd. now owns 246,777 shares of the company’s stock worth $985,000 after purchasing an additional 3,472 shares in the last quarter. Empowered Funds LLC increased its stake in E.W. Scripps by 11.1% during the 4th quarter. Empowered Funds LLC now owns 427,036 shares of the company’s stock valued at $1,704,000 after purchasing an additional 42,542 shares in the last quarter. Stokes Family Office LLC purchased a new position in E.W. Scripps in the fourth quarter worth about $75,000. Bridgeway Capital Management LLC raised its holdings in E.W. Scripps by 13.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 808,936 shares of the company’s stock worth $3,228,000 after buying an additional 97,542 shares during the last quarter. Finally, GAM Holding AG bought a new position in shares of E.W. Scripps in the fourth quarter worth approximately $319,000. 67.81% of the stock is currently owned by institutional investors.

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

Analyst Upgrades and Downgrades

SSP has been the subject of a number of research reports. 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 research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of E.W. Scripps in a research report on Friday, May 29th. Wall Street Zen upgraded E.W. Scripps to a “hold” rating in a report on Saturday, August 1st. Finally, Zacks Research upgraded E.W. Scripps from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.