Scripps Q3 record revenue $646M, political $125M, EPS $0.37 vs -$0.19 loss; debt paydown $115M

E.W. SCRIPPS Co

2024-Q3 EPS reported $0.08 revenue$1,781,393,000

Q3 revenue record $646M (+14% YoY); net income $33M ($0.37 EPS) vs prior-year loss $16.2M (-$0.19).
Political ad revenue $125M in Q3; full-year guidance raised to at least $340M from prior $270-290M.
Paid down $115M debt in Q3; leverage improved 6.0x to 5.1x; expects ~$300M total debt reduction in 2024.
Scripps Networks revenue $202M (-6.4%); expenses down 3.7%; Q4 expense decline expected high single-digit %.
Preferred dividends not declared; cumulative unpaid $41.4M; common dividends prohibited under Berkshire terms.

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