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GlobeNewswire·

Scripps reports Q3 2026 financial results

SSP
  • The E.W. Scripps Company reported $545 million in third-quarter 2026 revenue, an increase of 3.6% from the prior year.
  • Income attributable to shareholders was $20.7 million, or 21 cents per share, compared to a loss of $49 million in the same period last year.
  • Full-year Local Media political advertising revenue reached $284 million through Election Day, which is 44% higher than the 2022 midterm cycle.
  • The company aims to generate $125-$150 million in enterprise EBITDA growth by 2028 through cost savings & revenue initiatives.
  • Scripps reduced its workforce by approximately 20% in 2026 & expects $100 million in annual run-rate savings by year-end.
  • The Local Media segment revenue grew 15% to $373 million, driven by a 117,669% increase in political advertising revenue to $80.6 million.
  • Scripps Networks division revenue declined 14% to $173 million due to economic pressure & low consumer confidence, despite 37% growth in connected TV revenue.
  • The company holds $83 million in cash & plans to pay down at least $150 million of debt in the fourth quarter using Q4 political revenue.
  • Total debt stood at $2.5 billion as of September 30, with $166 million in undeclared & unpaid cumulative preferred stock dividends.
  • Year-to-date 2026 operating results show a loss of $1.2 billion, primarily due to a $1.1 billion non-cash impairment charge on Scripps Networks assets.
  • Fourth-quarter 2026 guidance projects Local Media revenue to rise 40% while Scripps Networks revenue is expected to decline in the high single digits.
  • The company will hold a conference call on November 6, 2026, at 9:30 a.m. Eastern time to discuss these results.
Company
E.W. Scripps Company (The)
Keywords
Nasdaq:SSP, E.W. Scripps Company (The), e.w. scripps, financial results, earnings