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E W Scripps Reports Mixed Q2 Earnings

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E W Scripps (NYSE: SSP) reported second-quarter losses of 1 cent per share, which beat the analyst consensus estimate by 1 cent.

The company reported quarterly sales of $337 million, which missed the analyst consensus estimate of $337.73 million by 0.22%. This is a 18.92% increase over sales of $283.395 million the same period last year.

"Instrumental to our short-term performance improvement plan is our aggressive pursuit of a clearly articulated M&A strategy that will help us build a more powerful and durable portfolio of television stations," said Scripps CEO Adam Symson. “With the transactions we have announced or completed in the last seven months, we will emerge as the fourth-largest independent local broadcaster, enhancing our financial durability and vastly improving cash flow generation.”

E W Scripps shares were trading at $14.62 in Friday’s pre-market session. The stock has a 52-week high of $23.41 and a 52-week low of $13.30.

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Posted-In: Earnings News

 

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