Scripps Q1 2020 Earnings Report
Key Takeaways
Scripps reported a 48% increase in revenue to $431 million, boosted by acquisitions. National Media achieved record revenue and margin expansion. However, the company reported a net loss of $11.8 million, impacted by acquisition costs and the early effects of the COVID-19 pandemic.
Scripps successfully transitioned to a remote workforce with minimal disruption.
Local Media retransmission revenue grew 21% on an adjusted combined basis due to contract resets.
Political advertising revenue outperformed expectations at nearly $19 million.
National Media division achieved record revenue and margin expansion with nearly $12 million in segment profit.
Scripps
Scripps
Scripps Revenue by Segment
Forward Guidance
Scripps has suspended issuing new guidance because of the economic uncertainty caused by the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income