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Jun 30, 2022
Scripps Q2 2022 Earnings Report
Scripps' Q2 revenue increased, driven by political advertising and distribution gains.
Key Takeaways
The E.W. Scripps Company reported a revenue of $594 million and a segment profit of $132 million for Q2 2022. This growth was driven by higher political advertising and retransmission revenues within the Local Media division. The company is on track to deliver at least $270 million of Local Media political advertising revenue for the full year.
Scripps benefitted from strong political advertising revenues in the Local Media division and higher retransmission revenues, contributing to 10% total revenue growth.
Scripps Networks division revenue performed better than the national cable and broadcast networks marketplace, delivering a 31% segment profit margin.
The Networks division increased connected TV revenue by 35% in Q2 and continues its aggressive expansion onto CTV platforms.
The company is carefully managing expenses in the face of the current economic environment.
Revenue by Segment
Forward Guidance
Third-quarter 2022 guidance includes Local Media revenue up in the low-to-mid 20% range, Local Media expense up in the mid-single-digit percent range, Scripps Networks revenue flat, and Scripps Networks expense up in the mid-teens percent range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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