Scripps Q3 revenue up 10% to $612M, EPS $0.38; cuts FCF guidance to ~$320M

E.W. SCRIPPS Co

2022-Q3 EPS reported $0.80 revenue$1,772,274,000

Revenue $612M (+10% YoY); segment profit $145M (+13%). Net income $33.7M ($0.38 EPS) vs $45.8M ($0.49) prior year.
Political ad revenue $63.2M (vs $7.1M); Local Media revenue $378M (+14%). Retransmission revenue $165M (+7.3%).
Scripps Networks revenue $235M (+3.9%); CTV revenue up 57% YoY; run rate target >$100M in 2023.
Free cash flow guidance cut to ~$320M for 2022 due to political shift and macroeconomic challenges.
Q4 outlook: Local Media revenue up mid-20s%; Networks revenue down mid-to-high-single-digit%.

item 2.02 item 9.01 item 99.1

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

E.W. SCRIPPS Co reported the quarter ended September 30, 2022 results: revenue $612 million, net income $33.7 million or 38 cents per share, EPS 38 cents per share. Guidance lowered.

Period: the quarter ended September 30, 2022
Revenue: $612 million
Net income: $33.7 million or 38 cents per share
EPS: 38 cents per share
Guidance: lowered
Result: reported results

Exact text from the filing

million run rate in CTV revenue next year, after launching additional streaming channels this fall Nov. 8, 2022 CINCINNATI – The E.W. Scripps Company (NASDAQ: SSP) delivered $612 million in revenue and $145 million in segment profit for the third quarter of 2022, year-over-year increases of 10% and 13% respectively, driven by growth in political advertising,

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Source: SEC EDGAR

accession 0000832428-22-000034

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