E.W. Scripps Reports Profit In Q2; Revenue Up 5.2%

The E.W. Scripps Company (SSP) reported second quarter income attributable to the shareholders of $29.2 million or $0.32 per share compared to a loss from continuing operations attributable to shareholders of $11.4 million or $0.14, prior year. The company recorded $132 million in segment profit for the second quarter of 2022, driven by higher Local Media political advertising and retransmission revenues.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.37, for the quarter. Analysts' estimates typically exclude special items.

Total second-quarter company revenue was $594 million, an increase of 5.2% from a year ago due to higher political and retransmission revenue in Local Media division. Analysts on average had estimated $603.58 million in revenue. The company said it is on track to deliver at least $270 million of Local Media political advertising revenue for the full year.

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