NASDAQ$SSP
The EW Scripps Company · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Delivered $574 million in revenue and a loss attributable to shareholders of $13 million.
The E.W. Scripps Company reported a revenue of $574 million for Q2 2024, a slight decrease of 1.6% year-over-year. The loss attributable to shareholders was $13 million, or 15 cents per share. Political advertising revenue was much stronger than expected, driving growth in the first half of the year.
- Political advertising revenue came in much stronger than expected at $28 million, driving 40% growth in the first half of the year over the same period of 2020.
- Scripps now believes its 2024 Local Media election-year political advertising revenue will reach record levels, with a new range of $270-$290 million.
- Progress continues on the planned divestiture of Scripps’ Bounce television network.
- Scripps Networks' national advertising upfront sales season is winding down with volume increases in the low single digit percent range over last year, driven largely by the success of the company’s women’s sports strategy.
Headline financials
Revenue & EPS history
Scripps · Revenue · Quarterly
$574M
Revenue by segment
Scripps · $568M total across 2 segments · Q3 2023
- Local Media$353M-6.6%62.1%
- Scripps Networks$215M-8.3%37.9%
Forward guidance
Scripps provided guidance for Q3 2024 and full year 2024.
Tailwinds
- Local Media revenue is expected to be up about 20 percent in Q3 2024.
- Local Media expense is expected to be up low-single-digit percent range in Q3 2024.
- Scripps Networks expense is expected to be down low-single-digits percent range in Q3 2024.
- Full-year 2024 capital expenditures updated to $65-$70 million.
- Full-year 2024 taxes paid updated to $60-$65 million.
Headwinds
- Scripps Networks revenue is expected to be down mid-single digits percent range in Q3 2024.
- Shared services and corporate expenses are expected to be about $21 million in Q3 2024.
- Full-year 2024 interest paid updated to $195-$205 million.
- Full-year 2024 depreciation and amortization is projected at $150-$160 million.
- Unspecified: Results of last year’s national advertising upfront are still impacting our quarterly results in the Scripps Networks division
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
-1.7%
Avg return
Earnings day
-2.4%
Avg return
5 days after
-2.3%
Avg return
30 days after
49%
32 / 65 earnings
Positive
+43.4%
Q4 2024
Best reaction
-34.9%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.0% | -25.6% | — | |
| Q4 2025 | +0.6% | +6.3% | -8.7% | |
| Q3 2025 | -3.3% | +5.3% | +87.2% | |
| Q1 2025 | -10.4% | -8.5% | -16.6% | |
| Q4 2024 | +43.4% | +80.4% | +42.7% | |
| Q3 2024 | -34.9% | -33.5% | -38.9% | |
| Q2 2024 | -20.2% | -27.6% | -40.1% | |
| Q1 2024 | -14.0% | -13.6% | -42.6% | |
| Q4 2023 | -14.7% | -26.2% | -35.4% | |
| Q3 2023 | +16.1% | +13.4% | +22.5% | |
| Q2 2023 | +8.7% | +3.5% | -25.1% | |
| Q1 2023 | +7.0% | +3.1% | +11.2% | |
| Q4 2022 | -10.9% | -15.9% | -39.3% | |
| Q3 2022 | -23.2% | -0.4% | +3.3% | |
| Q2 2022 | +2.6% | +5.0% | +1.6% | |
| Q1 2022 | -14.7% | -15.2% | -10.4% | |
| Q4 2021 | +0.9% | +6.5% | -2.0% | |
| Q3 2021 | +2.0% | +0.9% | -8.0% | |
| Q2 2021 | -3.9% | -3.1% | -9.9% | |
| Q1 2021 | -4.3% | -7.6% | -2.8% | |
| Q4 2020 | +10.5% | +14.2% | +7.6% | |
| Q3 2020 | +14.2% | +17.0% | +33.9% | |
| Q2 2020 | -5.4% | -2.1% | -8.0% | |
| Q1 2020 | +8.4% | -15.5% | +44.3% | |
| Q4 2019 | -7.8% | -12.9% | -24.1% | |
| Q3 2019 | +4.5% | +0.9% | +6.0% | |
| Q2 2019 | -14.5% | -19.7% | -12.4% | |
| Q1 2019 | -24.0% | -24.3% | -34.5% | |
| Q4 2018 | +6.0% | +7.5% | -0.7% | |
| Q3 2018 | -1.6% | -3.3% | -5.0% | |
| Q2 2018 | +9.4% | +12.1% | +12.7% | |
| Q1 2018 | +9.1% | +10.4% | +12.6% | |
| Q4 2017 | -12.4% | -9.8% | -20.8% | |
| Q3 2017 | -15.2% | -14.6% | -8.9% | |
| Q2 2017 | -7.2% | -6.2% | -6.0% | |
| Q1 2017 | -7.7% | -9.7% | -16.4% | |
| Q4 2016 | +6.6% | +11.6% | +8.1% | |
| Q3 2016 | +1.7% | +9.2% | +29.8% | |
| Q2 2016 | -3.6% | -6.0% | +5.0% | |
| Q1 2016 | +6.8% | — | — | |
| Q4 2015 | -3.9% | — | — | |
| Q3 2015 | -4.3% | — | — | |
| Q2 2015 | +2.5% | — | — | |
| Q1 2015 | -1.5% | — | — | |
| Q4 2014 | +0.0% | — | — | |
| Q3 2014 | +2.4% | — | — | |
| Q2 2014 | -11.4% | — | — | |
| Q1 2014 | +16.2% | — | — | |
| Q4 2013 | +7.0% | — | — | |
| Q3 2013 | -3.7% | — | — | |
| Q2 2013 | -13.4% | — | — | |
| Q1 2013 | -1.6% | — | — | |
| Q4 2012 | -8.6% | — | — | |
| Q3 2012 | +2.9% | — | — | |
| Q2 2012 | +3.3% | — | — | |
| Q1 2012 | +5.2% | — | — | |
| Q1 2011 | +5.2% | — | — | |
| Q2 2011 | +0.4% | — | — | |
| Q4 2009 | +0.4% | — | — | |
| Q4 2011 | +0.4% | — | — | |
| Q3 2010 | -6.7% | — | — | |
| Q3 2011 | -6.7% | — | — | |
| Q2 2010 | +2.8% | — | — | |
| Q4 2010 | +2.8% | — | — | |
| Q1 2010 | -0.5% | — | — |
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