Scripps beats Q2 expectations; raises 2021 free cash flow guidance to $240-260M

E.W. SCRIPPS Co

2021-Q2 EPS reported -$0.16 revenue$1,105,998,000

Q2 revenue $565M (+57% YoY as-reported, +23% same-station); Local Media core ad up 48% adj.-combined.
Scripps Networks revenue $239M (+23% adj.-combined); segment margin 45%; strong upfront with rate increases.
Free cash flow guidance raised to $240-260M from $210-240M due to robust ad demand.
Redeemed $400M 2025 senior notes and made $50M term loan payment; debt reduction focus.
Amended Berkshire warrant; no future fair-value adjustments; no dividends until preferred shares redeemed.

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