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Scripps Q1 2025 Earnings Report
The E.W. Scripps Company reported a decrease in revenue and an increased net loss for the first quarter of 2025, while successfully completing refinancing transactions and improving Scripps Networks margins.
Key Takeaways
The E.W. Scripps Company reported first-quarter 2025 revenue of $524 million, a decrease of 6.6% from the prior year, and a net loss attributable to shareholders of $18.8 million, or 22 cents per share. Despite the revenue decline, the company successfully refinanced its debt, improved Scripps Networks margins to 32%, and generated $63 million from real estate sales.
First-quarter 2025 revenue was $524 million, a decrease of 6.6% from the prior-year quarter.
Net loss attributable to shareholders was $18.8 million, or 22 cents per share, compared to a loss of $12.8 million, or 15 cents per share, in the prior-year quarter.
Scripps Networks division achieved 32% margins, driven by growth in connected TV revenue, strong sales execution, and cost savings.
The company successfully completed refinancing of its 2026 and 2028 term loans and revolving credit facility, and entered into a new AR securitization facility.
Revenue by Segment
Forward Guidance
For the second quarter of 2025, Scripps anticipates Local Media revenue to be down in the high single-digit percent range, Local Media expense to be up in the low single-digit percent range, Scripps Networks revenue to be about flat, Scripps Networks expense to be down in the low double-digit percent range, and Shared services and corporate costs to be about $22 million.
Positive Outlook
- Scripps Networks division is expected to benefit from the return of WNBA and National Women's Soccer League to ION network, with significant advertising dollars already secured.
- Local Media distribution revenue is expected to be about flat for Q2 and full-year despite subscriber count declines, due to successful contract renewals.
- The company expects to continue to reduce its leverage ratio throughout the year.
- New distribution agreements for live women's sports, including Sports Illustrated for the SI Women's Games and Elevance Health Women's Fort Myers Tip-Off, are expected to drive profit and connect ION with women's sports fans.
- Industry deregulation and revisiting of outdated ownership rules are anticipated to be a tailwind for Scripps' local broadcast stations, supporting economic growth and audience service.
Challenges Ahead
- Local Media revenue is expected to be down in the high single-digit percent range for Q2 2025.
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