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Mar 31, 2020
Scripps Q1 2020 Earnings Report
Scripps experienced revenue growth driven by acquisitions and strong performance in National Media, but net loss was impacted by acquisition costs and the onset of the COVID-19 pandemic.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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