earnings
confidence high
sentiment positive
materiality 0.65
Scripps Q3 revenue $555M (+13% YoY), core ad up 18%; raises FCF guidance to $255-265M
E.W. SCRIPPS Co
2021-Q3 EPS reported
$0.37
revenue$1,661,241,000
- Q3 revenue $555M (+13% YoY); core advertising revenue up 18% adjusted combined in Local Media and Scripps Networks.
- EPS 49 cents from continuing ops vs 76 cents prior year; includes $32.6M building sale gain and $1.9M restructuring costs.
- Free cash flow guidance raised to $255-265M (from $240-260M); paid down $500M debt YTD through Sept. 30.
- Scripps Networks revenue $227M (+18% adjusted) with full-year margin guidance of 40%; Newsy now available OTA to 92% of U.S.
- Made $10M investment in Misfits Gaming Group; still prohibited from dividend payments until Berkshire Hathaway preferred shares redeemed.