Scripps Q1 revenue up 6.4% to $561M, raises political ad guidance to $240-270M, exploring sale of Bounce network

E.W. SCRIPPS Co

2024-Q1 EPS reported -$0.15 revenue$561,464,000

Q1 net loss $12.8M ($0.15/share) vs loss $31.1M ($0.37) a year ago; adjusted per-share impact of investment gain and restructuring.
Political ad revenue surged to $15.2M from $3.5M; full-year outlook raised from $210-250M to $240-270M.
Exploring sale of Bounce TV network after inbound interest; Bounce revenue CAGR 14% since 2017 acquisition.
Elected to defer preferred stock dividend for Q2 2024 and expects to continue deferring for rest of 2024.
Local Media revenue $353M (+13%); Scripps Networks $209M (-3.3%); total debt $2.9B.

item 2.02 item 8.01 item 9.01 item 99.1

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

E.W. SCRIPPS Co reported the quarter ended March 31, 2024 results: revenue Scripps reports Q1 2024 financial results May 9, 2024 CINCINNATI – The E.W. Scripps Company (NASDAQ: SSP) delivered $561, net income Loss attributable to the shareholders of Scripps was $12.8 million or 15 cents per share., EPS 15 cents per share. Guidance raised.

Period: the quarter ended March 31, 2024
Revenue: Scripps reports Q1 2024 financial results May 9, 2024 CINCINNATI – The E.W. Scripps Company (NASDAQ: SSP) delivered $561
Net income: Loss attributable to the shareholders of Scripps was $12.8 million or 15 cents per share.
EPS: 15 cents per share
Guidance: raised
Result: reported results

Exact text from the filing

Scripps reports Q1 2024 financial results May 9, 2024 CINCINNATI – The E.W. Scripps Company (NASDAQ: SSP) delivered $561 million in revenue for the first quarter of 2024. Loss attributable to the shareholders of Scripps was $12.8 million or 15 cents per share.

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