Scripps reports Q1 loss of $31.1M; revenue down 6.7% to $528M

E.W. SCRIPPS Co

2023-Q1 EPS reported -$0.37 revenue$527,778,000

Net loss $31.1M ($0.37/share) vs prior-year profit $9.8M; restructuring added $0.15/share.
Revenue $528M, down 6.7% YoY; Local Media down 4.5%, Scripps Networks down 9.5%.
Scripps Sports signs multi-year deals with WNBA (ION Friday Night Spotlight) and Vegas Golden Knights.
Reorganization expected to save at least $40M annually; CTV revenue grew 46% YoY.
Q2 guidance: Local Media revenue flat-to-up low singles; Networks revenue down high singles.

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 March 31, 2023 results: revenue $528 million, net income $31.1 million, EPS 37 cents per share.

Period: the quarter ended March 31, 2023
Revenue: $528 million
Net income: $31.1 million
EPS: 37 cents per share
Result: reported results

Exact text from the filing

Total first-quarter company revenue was $528 million, a decrease of 6.7% or $37.9 million from the prior-year quarter. Costs and expenses for segments, shared services and corporate were $455 million, up from $451 million in the year-ago quarter. Loss attributable to the shareholders of Scripps was $31.1 million or 37 cents per share.

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Source: SEC EDGAR

accession 0000832428-23-000015

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