NASDAQ$SSP
The EW Scripps Company · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Delivered revenue of $567 million and segment profit of $97.5 million.
Scripps reported a decrease in revenue to $567 million and a net loss attributable to shareholders of $16.2 million, or 19 cents per share, for Q3 2023. The results reflect a decrease in political revenue compared to the prior-year quarter, which included a midterm election.
- Scripps successfully completed cable and satellite carriage agreements covering about 75% of the company’s Local Media subscriber households.
- Scripps Sports signed a new agreement with the National Hockey League’s Arizona Coyotes to distribute its games beginning this season.
- Scripps Networks’ third-quarter revenue was down 8%, exceeding guidance because of better-than-expected connected TV and direct response revenue.
- Restructuring charges for the third quarter were nearly $5 million, and the company is on track to realize at least $40 million in savings through the reorganization by the middle of 2024.
Headline financials
Revenue & EPS history
Scripps · Revenue · Quarterly
$567M
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
The company provided the following outlook for Q4 2023, comparisons are to the same period in 2022:
Headwinds
- Local Media revenue down low to mid-double digits
- Local Media expense up mid-single digits
- Scripps Networks revenue down in the 10% range
- Scripps Networks expense flat
- Shared services and corporate about $22 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 2023
-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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