- E.W. Scripps (SSP +9.3%) reports Q1 revenue growth of 28.3% Y/Y to $254M of which Local Media $192.1M (+2.7% Y/Y); National Media $60.7M (+42.2% Y/Y) & Other $1.4M (-18.2% Y/Y).
- Local Media segment revenue: Core advertising $116M (+0.2% Y/Y); Political $2.6M (+160% Y/Y); Retransmission $70.8M (+6.9% Y/Y) & Other $2.4M (-34.4% Y/Y).
- National Media segment revenue: Katz (newly acquired) $42.7M; Midroll $11M (+68.7% Y/Y); Newsy $3.7M (+208.3% Y/Y) & Other $3.4M (+73.9% Y/Y).
- Cash & equivalents of $130M (-12.8% Q/Q) while total debt of $693M.
- Company repurchased 0.3M shares for $4.4M, also made dividend payments totaling $4.1M.
- Q2 Outlook: (comparisons Y/Y) Local Media revenue up mid-single-digits; National Media revenue in the low-to-mid ~$60M; Shared services & corporate ~$14M & D&A of $15M.
- Previously: E.W. Scripps misses by $0.01, beats on revenue (May 7)
- Now read: Windstream building new fiber from Los Angeles to Dallas
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