Scripps reports Q4 loss of $3.17/share on $616M revenue; $266M goodwill impairment

E.W. SCRIPPS Co

2023-FY EPS reported -$11.84 revenue$2,292,912,000

Q4 net loss $268M ($3.17/sh); $266M goodwill impairment & $9.4M restructuring charges.
Revenue down 9.6% YoY to $616M; Local Media core ad +1%, distribution +22%; Networks revenue -7.1%.
Not declaring Q1 2024 preferred dividend to preserve liquidity for deleveraging; total debt $3B, cash $35.3M.
Q1 2024 guidance: Local Media revenue up low teens; Networks flat to down low single-digit; FY capex $70-80M, interest $200-210M.
New NWSL rights deal for 4 seasons; NHL deals to add 3pts to core ad in 2024; cost savings >$40M annualized by mid-2024.

item 2.02 item 9.01 item 99.1

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

E.W. SCRIPPS Co reported for the quarter ended December 31, 2023 results: revenue $616 million, net income loss attributable to the shareholders of Scripps was $268 million, EPS $3.17 per share.

Period: for the quarter ended December 31, 2023
Revenue: $616 million
Net income: loss attributable to the shareholders of Scripps was $268 million
EPS: $3.17 per share
Result: reported results

Exact text from the filing

hereto as Exhibit 99.1. --- EX-99.1 (EX-99.1) --- Scripps reports Q4 2023 financial results Feb. 23, 2024 CINCINNATI — The E.W. Scripps Company (NASDAQ: SSP) delivered $616 million in revenue for the fourth quarter of 2023. Loss attributable to the shareholders of Scripps was $268 million or $3.17 per share. A non-cash goodwill impairment charge and

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Source: SEC EDGAR

accession 0000832428-24-000012

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