NASDAQ$SSP
The EW Scripps Company · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Scripps revenue grew, driven by political and connected TV advertising
Scripps reported a 10% increase in revenue to $612 million and a 13% increase in segment profit to $145 million for Q3 2022. This growth was fueled by political advertising, retransmission revenues, and Scripps Networks revenue.
- Scripps Networks division revenue exceeded expectations, growing 4% year-over-year, with Connected TV (CTV) revenue up 57%.
- Local Media revenue increased by 14%, driven by $63 million in political advertising revenue and a 7% increase in retransmission revenue.
- Expenses for both divisions were managed effectively despite rising inflation.
- Scripps News division was created and will launch Jan. 1 across all platforms.
Headline financials
Revenue & EPS history
Scripps · Revenue · Quarterly
$612M
Revenue by segment
Scripps · $613M total across 2 segments · Q3 2022
- Local Media$378M+14.1%61.7%
- Scripps Networks$235M+3.7%38.3%
Forward guidance
Fourth-quarter 2022 guidance indicates revenue growth in Local Media and expense control in Scripps Networks, but also suggests a revenue decline in Scripps Networks.
Tailwinds
- Local Media revenue is expected to increase in the mid-20s percent range.
- Local Media expense is expected to increase in the mid-single-digit percent range.
- Shared services and corporate expenses are projected to be around $21 million.
- Capital expenditures are estimated to be between $45-$55 million for the full year 2022.
- Depreciation and amortization are expected to be about $160 million for the full year 2022.
Headwinds
- Scripps Networks revenue is expected to decline in the mid-to-high-single-digit percent range.
- Scripps Networks expense is expected to be about flat.
- Interest paid is projected to be about $150 million for the full year 2022.
- Taxes paid are estimated to be about $70 million for the full year 2022.
- The company adjusted its 2022 free cash flow expectation to about $320 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
-1.7%
Avg return
Earnings day
-2.4%
Avg return
5 days after
-2.9%
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 | -1.1% | -24.2% | -25.7% | |
| 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 2011 | +5.2% | — | — | |
| Q1 2012 | +5.2% | — | — | |
| Q4 2009 | +0.4% | — | — | |
| Q2 2011 | +0.4% | — | — | |
| Q4 2011 | +0.4% | — | — | |
| Q3 2011 | -6.7% | — | — | |
| Q3 2010 | -6.7% | — | — | |
| Q2 2010 | +2.8% | — | — | |
| Q4 2010 | +2.8% | — | — | |
| Q1 2010 | -0.5% | — | — |
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