E.W. SCRIPPS Co (SSP): Scripps reports Q3 2026 financial results
E.W. SCRIPPS Co (SSP) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Scripps reports Q3 2026 financial results Nov. 5, 2026 CINCINNATI – The E.W. Scripps Company (NASDAQ: SSP) delivered $545 million in revenue for the third quarter of 2026. Income attributable to the shareholders of Scripps was $20.7 million or 21 cents per share. Rec
How this was made
The 30-second read
Why it matters
Earnings beat and strong political ad revenue may drive short‑term price appreciation, while transformation costs remain a watch point.
Market read
First‑time earnings disclosure for a mid‑cap media company with notable revenue growth and debt‑paydown plans.
What to watch
Potential headwinds from low consumer confidence and the $100 M run‑rate cost‑savings not yet realized.
Scripps reports Q3 2026 revenue of $545 million and income attributable to shareholders of $20.7 million, while political advertising lifted Local Media and Scripps Networks revenue declined.
Third-quarter revenue increased 3.6% and income attributable to shareholders was $20.7 million, driven by political advertising in Local Media, but Scripps Networks revenue declined 13.9%, Scripps Networks segment profit declined 38.1%, and total debt was $2.5 billion.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 operating revenuesGAAP | $544.9M | – | 3.6 % |
| Q3 2026 segment, shared services and corporate expensesGAAP | −$426.6M | – | – |
| Q3 2026 restructuring costsGAAP | −$18.77M | – | – |
| Q3 2026 depreciation and amortization of intangible assetsGAAP | −$31.33M | – | – |
| Q3 2026 operating incomeGAAP | $67.29M | – | – |
| Q3 2026 interest expenseGAAP | −$53.80M | – | – |
| Q3 2026 income from operations before income taxesGAAP | $11.63M | – | – |
| Q3 2026 benefit for income taxesGAAP | $26.03M | – | – |
| Q3 2026 net incomeGAAP | $37.66M | – | – |
| Q3 2026 net income attributable to shareholders of The E.W. Scripps CompanyGAAP | $20.73M | – | – |
| Q3 2026 net income per diluted share of common stock attributable to shareholdersGAAP | $ 0.21 | – | – |
| Q3 2026 adjusted EBITDAnon-GAAP | $121.5M | – | – |
| Q3 2026 capital expendituresGAAP | −$11.61M | – | – |
| Nine months ended September 30, 2026 operating revenuesGAAP | $1.55B | – | (2.4) % |
| Nine months ended September 30, 2026 segment, shared services and corporate expensesGAAP | −$1.32B | – | – |
| Nine months ended September 30, 2026 impairment of goodwill and other intangible assetsGAAP | −$1.14B | – | – |
| Nine months ended September 30, 2026 operating lossGAAP | −$1.07B | – | – |
| Nine months ended September 30, 2026 net lossGAAP | −$1.12B | – | – |
| Nine months ended September 30, 2026 net loss attributable to shareholders of The E.W. Scripps CompanyGAAP | −$1.17B | – | – |
| Nine months ended September 30, 2026 net loss per diluted share of common stock attributable to shareholdersGAAP | $ (12.73) | – | – |
| Nine months ended September 30, 2026 adjusted EBITDAnon-GAAP | $243.5M | – | – |
| Nine months ended September 30, 2026 capital expendituresGAAP | −$30.50M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Q3 2026 Local MediaPolitical revenue was $ 80,588, compared to $ 5,141 in the prior-year quarter, while core advertising was $ 111,086 and decreased (15.6) %. | $372.8M | – | 14.5 % |
| Q3 2026 Scripps NetworksRevenue benefited from Nielsen’s Sept. 1 ratings methodology change and connected TV revenue grew 37%, but pressure from the economy and low consumer confidence on direct response advertising led to revenue down 11% on an adjusted combined basis. | $173.0M | – | (13.9) % |
| Nine months ended September 30, 2026 Local MediaPolitical revenue was $ 117,669, compared to $ 11,028 in the prior year. | $1.03B | – | 4.6 % |
| Nine months ended September 30, 2026 Scripps NetworksSegment profit was $ 104,786, compared with $ 173,340 in the prior-year period. | $520.9M | – | (13.9) % |
| Q3 2026 Local Media adjusted combinedCore advertising was $ 111,086, political revenue was $ 80,588, and distribution revenue was $ 177,990. | $372.8M | – | 19.0 % |
| Q3 2026 Scripps Networks adjusted combinedTotal costs and expenses were $ 139,979, up 0.9 %, and segment profit was $ 33,014, down (41.0) %. | $173.0M | – | (11.1) % |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Fourth-quarter 2026 outlook
- RevenueLocal Media revenue: Up low-to-mid 40% range; Scripps Networks revenue: Down high single digits
- Operating expensesLocal Media expense: About flat; Scripps Networks expense: Down low single digits; Shared services and corporate: About $27 million
- NoteScripps now expects connected TV revenue to end the year at about $155 million.
- NoteThe company expects division expenses to begin a downward trend in the fourth quarter as transformation cost initiatives take effect.
- NoteThe company expects to generate $125-$150 million of enterprise EBITDA growth by 2028 through cost savings and revenue initiatives.
- NoteThe impact of the transformation work will be most evident beginning in the fourth-quarter results as the company will have implemented about $100 million in annual run-rate savings by year end.
Capital returns
- Scripps did not declare or provide payment for any of the quarterly preferred stock dividends in 2026.
- The 9% dividend rate on the preferred shares compounds quarterly.
- At Sept. 30, aggregated undeclared and unpaid cumulative dividends totaled $166 million.
- Under the terms of Berkshire Hathaway’s preferred equity investment in Scripps, the company is prohibited from paying dividends on or repurchasing common shares until all preferred shares are redeemed.
What drove it
- Third-quarter company revenue increased 3.6% or $19 million from the prior-year quarter.
- Political revenue was $82.6 million, compared to $5.5 million in the prior-year quarter.
- Costs and expenses for segments, shared services and corporate were $427 million, down from $449 million in the year-ago quarter, reflecting tight expense controls and savings achieved through the enterprise-wide transformation plan.
- Scripps generated $284 million in full-year Local Media division political advertising revenue through Election Day, 44% above the 2022 midterm election cycle.
- Connected TV revenue grew 37%.
- In 2026, the company reduced its workforce by about 20%.
Concerns
- Scripps Networks Q3 revenue was down 14% from the prior-year quarter and down 11% on an adjusted combined basis.
- Scripps Networks adjusted combined expenses were up 0.9%, driven by the new WNBA contract this year.
- Core advertising revenue in Local Media decreased 16% to $111 million, reflecting displacement from political advertising.
- Distribution revenue decreased $7.8 million or 4.2% to $178 million, including a $3.8 million third-quarter 2026 impact from a service blackout during DirecTV contract negotiations.
- The nine-month period included a non-cash goodwill and other intangible assets impairment charge for Scripps Networks of $1.1 billion.
- Total debt was $2.5 billion at Sept. 30.
What to watch
- Fourth-quarter Local Media revenue guidance of up low-to-mid 40% range.
- Fourth-quarter Scripps Networks revenue guidance of down high single digits.
- Execution of at least $150 million of fourth-quarter debt repayment.
- Whether transformation cost initiatives produce the expected fourth-quarter decline in Scripps Networks expenses.
- Progress toward about $100 million in annual run-rate savings by year end and $125-$150 million of enterprise EBITDA growth by 2028.
- Connected TV revenue progress toward about $155 million for the year.
Balance sheet and cash flow
- At Sept. 30, cash and cash equivalents totaled $83.4 million, and total debt was $2.5 billion.
- At Sept. 30, long-term debt included $1.7 billion of senior notes outstanding, $558 million of term loans outstanding and $274 million under the accounts receivable securitization facility.
- During the first nine months of 2026, Scripps made principal pre-payments totaling $60.6 million on its June 2028 and November 2029 term loans.
- The company will use cash and cash from Q4 political advertising revenue to pay down at least $150 million of debt in the fourth quarter.
- Q3 2026 interest paid was $ (77,744).
- Nine months ended September 30, 2026 interest paid was $ (179,170).
Analysis
Scripps delivered $545 million in third-quarter revenue, up 3.6% from the prior-year quarter, and income attributable to shareholders of $20.7 million, or 21 cents per share, compared with a $49 million loss, or 55 cents per share, a year earlier. Political revenue was $82.6 million versus $5.5 million in the prior-year non-election quarter. The current quarter included $18.8 million in restructuring costs, which decreased income attributable to shareholders by 14 cents per share.
Local Media was the principal growth driver. Segment revenue was $373 million, up 15%, and segment profit was $118 million versus $52.8 million a year ago. On an adjusted combined basis, Local Media revenue rose 19% and segment profit was $118 million compared with $49.8 million. Political revenue of $80.6 million offset a 16% decline in core advertising to $111 million, which management attributed to political displacement. Distribution revenue decreased 4.2% to $178 million, with disposed stations and the DirecTV service blackout cited as factors.
Scripps Networks remained the operational weak point. Reported segment revenue was $173 million, down 14%, while segment profit was $33 million compared with $53.3 million. On an adjusted combined basis, revenue declined 11%, expenses increased 0.9%, and segment profit declined 41.0%. Management cited the benefit of Nielsen's Sept. 1 ratings methodology change and 37% connected TV revenue growth, but said economic pressure and low consumer confidence weighed on direct response advertising. The first-year impact of the new WNBA contract increased adjusted combined expenses.
Expense control supported the quarter, as segment, shared services and corporate expenses declined to $427 million from $449 million. The company said transformation work will be most evident beginning in the fourth quarter, with about $100 million in annual run-rate savings expected by year end. Fourth-quarter guidance calls for Local Media revenue to increase in the low-to-mid 40% range and its expense to be about flat, while Scripps Networks revenue is expected to decline in the high single digits and expense to decline in the low single digits.
Balance-sheet priorities remain central. Cash and cash equivalents totaled $83.4 million and total debt was $2.5 billion at Sept. 30. Scripps plans to use cash and fourth-quarter political advertising cash flow to repay at least $150 million of debt in the fourth quarter. For the first nine months, revenue declined 2.4% to $1.6 billion and the company recorded a $1.2 billion loss attributable to shareholders, including a $1.1 billion non-cash goodwill and other intangible assets impairment charge for Scripps Networks.
Management, verbatim
“The companywide transformation we launched in February is well underway and on track to deliver both on our commitment to evolve the company’s products and the expected benefit to enterprise EBITDA next year.”
Adam Symson, President and CEO
“In our Scripps Networks division, we saw a modest sequential recovery in our third-quarter revenue and profit margin, bolstered by the early impact of Nielsen’s updated ratings methodology and 37% growth in revenue from our connected TV/streaming platform distribution.”
Adam Symson, President and CEO
“The work underway reflects our priorities to improve our earnings trajectory, strengthen the balance sheet and best serve American media consumers.”
Adam Symson, President and CEO
Not in the filing
stated, not guessed- Prior-quarter comparisons for reported metrics
- Gross profit and gross margin
- Operating cash flow
- Free cash flow
- Non-GAAP EPS
- Common-share repurchases
- Common-stock dividend amount
- Prior outlook or prior guidance for comparison
- Tax-rate guidance
- Gross-margin guidance
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
E.W. Scripps Co. (NASDAQ: SSP) filed its quarterly 8‑K, detailing financial performance and transformation initiatives.
Ticker impact
The 8‑K reports Scripps' Q3 2026 results with $545 M revenue, $20.7 M net income and political ad revenue up 44% YoY.
likely upward pressure as investors price in better-than-expected earnings and transformation progress
First‑time disclosure of earnings shows revenue growth and cash generation, while debt‑paydown plans improve balance sheet strength.
Market effects
Positive signal for the local media and broadcast advertising sector, especially political ad spend.
U.S. media stocks may see modest gains on the back‑stop of strong political ad revenue.
Limited; primarily a U.S. media company earnings story.
Counterpoint
The 11% revenue decline on an adjusted basis and higher expenses could weigh on margins if ad markets soften.
Key entities
- ExecutiveAdam Symson
President and CEO of Scripps, quoted on earnings and transformation progress.
