E.W. Scripps Co. (SSP) Misses Q1 EPS by 2c, Revenues Beat

E.W. Scripps Co. (NASDAQ: SSP) reported Q1 EPS of ($0.08), $0.02 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $292 million versus the consensus estimate of $289.8 million.

"In the last nine months, Scripps has announced three strategic television station acquisitions that grow our national reach, enhance our financial durability and expand our platform for strong local news coverage. As the nation\'s fourth-largest independent local broadcaster, we will earnestly fulfill our commitment to serve our communities with quality objective journalism and to provide a trustworthy platform for businesses to reach their consumers.

"With the close of the Nexstar transaction, Scripps will grow its national television station footprint to 60 stations in powerful markets such as New York City, Phoenix, Detroit, Tampa, Miami, Denver and Nashville. We now expect to enter 2020 with an even further strengthened political advertising footprint, including now reaching more than two-thirds of Florida households as well as entering Virginia and Texas. These moves also rebalance our portfolio toward more No.1 and No.2-ranked stations as well as markets where we\'ll operate second stations.

"At the same time, we continue to build value in our National Media businesses by focusing on the evolving habits of media consumers and the growing popularity of digital audio, including podcasts, OTT and over-the-air television viewing. The continued momentum in revenue growth for these businesses underscores the opportunity in burgeoning marketplaces and the need for us to stay focused on positioning ourselves to capture the significant upside."

"As we have proven over the last 12 months, we are totally committed to our plan to reposition the company and to complete the work underway to create significant value for our shareholders."

For earnings history and earnings-related data on E.W. Scripps Co. (SSP) click here.

You May Also Be Interested In

• Cadence (CDNS) tumbles despite Q1 beat on top and bottom lines
• Vertex (VERX) Reports Prelim Q1 Results
• NBT Bancorp (NBTB) Reports in-line Q1 EPS