E.W. SCRIPPS Co 10-Q for FY2026 Q3

E.W. SCRIPPS Co (SSP)

10-Q 2026-11-06 For: 2026-09-30

Added on November 06, 2026

About this 10-Q

E.W. SCRIPPS Co filed this 10-Q on November 6, 2026, covering the quarter ended September 30, 2026 (FY2026 Q3).

E.W. Scripps Company recorded a $1.1 billion non-cash impairment tied to Scripps Networks after weak advertising, ratings and macroeconomic conditions, while third-quarter operating revenue increased 3.6%. AI summary

Headline figures

Quarter ended September 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $544.86M; up 3.6% from $525.85M a year earlier
Net income: $37.66M; compared with a net loss of $32.96M a year earlier
Diluted EPS: $0.21; compared with -$0.55 a year earlier

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Ohio		31-1223339
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification Number)

312 Walnut Street
Cincinnati,	Ohio	45202
(Address of principal executive offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock, par value $0.01 per share	SSP	NASDAQ Global Select Market


Item No.						Page

PART I - Financial Information

1. Financial Statements						3

2. Management's Discussion and Analysis of Financial Condition and Results of Operations						3

3. Quantitative and Qualitative Disclosures About Market Risk						3

4. Controls and Procedures						3

PART II - Other Information

1. Legal Proceedings						3

1A. Risk Factors						3

2. Unregistered Sales of Equity Securities and Use of Proceeds						3

3. Defaults Upon Senior Securities						3

4. Mine Safety Disclosures						3

5. Other Information						4

6. Exhibits						4

Signatures						5


Exhibit Number						Exhibit Description
31(a)						Section 302 Certifications *
31(b)						Section 302 Certifications *
32(a)						Section 906 Certifications *
32(b)						Section 906 Certifications *
101						The Company's unaudited Condensed Consolidated Financial Statements and related Notes for the three and nine months ended September 30, 2026 from this Quarterly Report on Form 10-Q, formatted in iXBRL (Inline eXtensible Business Reporting Language). *
104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). *


	THE E.W. SCRIPPS COMPANY

Dated: November 6, 2026	By:	/s/ Daniel W. Perschke
		Daniel W. Perschke
		Senior Vice President, Controller
		(Principal Accounting Officer)


☑						QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐						TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


Item						Page

Condensed Consolidated Balance Sheets						F-2

Condensed Consolidated Statements of Operations						F-3

Condensed Consolidated Statements of Comprehensive Income (Loss)						F-4

Condensed Consolidated Statements of Cash Flows						F-5

Condensed Consolidated Statements of Equity						F-6

Notes to Condensed Consolidated Financial Statements						F-7

Management’s Discussion and Analysis of Financial Condition and Results of Operations						F-26

Quantitative and Qualitative Disclosures About Market Risk						F-37

Controls and Procedures						F-38


(in thousands, except share data)	As of September 30, 2026		As of December 31, 2025

Assets
Current assets:
Cash and cash equivalents	$	83,390	$	27,923

Accounts receivable (less allowances — $7,399 and $5,909)	501,991		569,307


Miscellaneous	42,310		47,255

Assets held for sale	—		102,933
Total current assets	627,691		747,418
Investments	17,368		14,369
Property and equipment	421,944		407,966
Operating lease right-of-use assets	80,720		95,975
Goodwill	931,534		1,918,334
Other intangible assets	1,318,059		1,517,776
Programming	217,789		280,359

Miscellaneous	22,511		26,431

Total Assets	$	3,637,616	$	5,008,628

Liabilities and Equity
Current liabilities:
Accounts payable	$	65,518	$	63,420
Unearned revenue	52,488		22,166
Current portion of long-term debt	—		8,854

Accrued liabilities:
Employee compensation and benefits	52,909		55,657
Accrued taxes	21,821		34,576
Programming liability	162,574		141,914
Accrued interest	21,471		53,791
Miscellaneous	41,769		41,813
Other current liabilities	26,246		24,347

Liabilities held for sale	—		7,063
Total current liabilities	444,796		453,601
Long-term debt (less current portion)	2,457,441		2,585,534
Deferred income taxes	201,467		268,427
Operating lease liabilities	73,326		85,885
Other liabilities (less current portion)	317,959		369,089

Equity:
Preferred stock, $0.01 par — authorized: 25,000,000 shares; none outstanding	—		—
Preferred stock — Series A, $100,000 par; 6,000 shares issued and outstanding (redemption value of $799,260 at September 30, 2026 and $749,587 at December 31, 2025)	419,159		419,159
Common stock, $0.01 par:
Class A — authorized: 240,000,000 shares; issued and outstanding: 81,085,753 and 77,081,135 shares	811		771
Voting — authorized: 60,000,000 shares; issued and outstanding: 11,932,722 and 11,932,722 shares	119		119
Total preferred and common stock	420,089		420,049
Additional paid-in capital	1,478,540		1,467,347
Accumulated deficit	(1,692,262)		(576,881)
Accumulated other comprehensive loss, net of income taxes	(63,740)		(64,423)


Total equity	142,627		1,246,092
Total Liabilities and Equity	$	3,637,616	$	5,008,628


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2026		2025		2026		2025

Operating Revenues:
Advertising	$	356,795	$	328,985	$	988,281	$	990,365
Distribution	181,026		188,267		537,306		572,595
Other	7,040		8,602		26,543		27,367
Total operating revenues	544,861		525,854		1,552,130		1,590,327
Operating Expenses:
Cost of revenues, excluding depreciation and amortization	286,356		311,313		891,220		942,155
Selling, general and administrative expenses, excluding depreciation and amortization	140,241		137,426		433,153		418,051

Restructuring costs	18,771		2,718		55,255		7,475
Depreciation	12,296		14,680		38,868		44,227
Amortization of intangible assets	19,035		22,528		62,871		68,639
Impairment of goodwill and other intangible assets	—		—		1,135,825		—
Losses (gains), net on disposal of property and equipment	872		(434)		422		(31,922)
Total operating expenses	477,571		488,231		2,617,614		1,448,625
Operating income (loss)	67,290		37,623		(1,065,484)		141,702
Interest expense	(53,796)		(59,219)		(164,864)		(161,622)
Loss on extinguishment of debt	—		(7,622)		(913)		(10,594)
Other financing transaction costs	—		(6,466)		—		(44,537)
Defined benefit pension plan expense	(733)		(338)		(2,200)		(1,013)
Gains (losses) from sale of business	—		—		38,881		—

Miscellaneous, net	(1,132)		(1,165)		(6,506)		(2,692)
Income (loss) from operations before income taxes	11,629		(37,187)		(1,201,086)		(78,756)
Benefit for income taxes	(26,030)		(4,228)		(85,705)		(6,380)


Net income (loss)	37,659		(32,959)		(1,115,381)		(72,376)
Preferred stock dividends	(16,927)		(16,062)		(49,673)		(47,172)

Net income (loss) attributable to the shareholders of The E.W. Scripps Company	$	20,732	$	(49,021)	$	(1,165,054)	$	(119,548)




Net income (loss) per basic share of common stock attributable to the shareholders of The E.W. Scripps Company	$	0.22	$	(0.55)	$	(12.73)	$	(1.36)



Net income (loss) per diluted share of common stock attributable to the shareholders of The E.W. Scripps Company	$	0.21	$	(0.55)	$	(12.73)	$	(1.36)


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2026		2025		2026		2025

Net income (loss)	$	37,659	$	(32,959)	$	(1,115,381)	$	(72,376)
Changes in defined benefit pension plans, net of tax of $73, $12, $218, and $35	249		26		746		76
Other	(21)		10		(63)		32
Total comprehensive income (loss) attributable to preferred and common stockholders	$	37,887	$	(32,923)	$	(1,114,698)	$	(72,268)


Three Months Ended September 30, 2026 and 2025 (in thousands, except per share data)	Preferred Stock		Common Stock		Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Income (Loss) ("AOCI")		Total Equity

As of June 30, 2026	$	419,159	$	927	$	1,474,490	$	(1,729,921)	$	(63,968)	$	100,687
Comprehensive income (loss)	—		—		—		37,659		228		37,887





Compensation plans: 349,484 net shares issued *	—		3		4,050		—		—		4,053
As of September 30, 2026	$	419,159	$	930	$	1,478,540	$	(1,692,262)	$	(63,740)	$	142,627


As of June 30, 2025	$	418,007	$	883	$	1,461,755	$	(515,421)	$	(75,234)	$	1,289,990
Comprehensive income (loss)	—		—		—		(32,959)		36		(32,923)
Preferred stock dividends, $576 of issuance costs accretion	576		—		(576)		—		—		—


Compensation plans: 468,998 net shares issued *	—		5		3,376		—		—		3,381
As of September 30, 2025	$	418,583	$	888	$	1,464,555	$	(548,380)	$	(75,198)	$	1,260,448


Nine Months Ended September 30, 2026 and 2025 (in thousands, except per share data)	Preferred Stock		Common Stock		Additional Paid-in Capital		Accumulated Deficit		Accumulated Other Comprehensive Income (Loss) ("AOCI")		Total Equity

As of December 31, 2025	$	419,159	$	890	$	1,467,347	$	(576,881)	$	(64,423)	$	1,246,092
Comprehensive income (loss)	—		—		—		(1,115,381)		683		(1,114,698)





Compensation plans: 4,004,618 net shares issued *	—		40		11,193		—		—		11,233
As of September 30, 2026	$	419,159	$	930	$	1,478,540	$	(1,692,262)	$	(63,740)	$	142,627


As of December 31, 2024	$	416,854	$	866	$	1,451,604	$	(476,004)	$	(75,306)	$	1,318,014
Comprehensive income (loss)	—		—		—		(72,376)		108		(72,268)



Preferred stock dividends, $1,729 of issuance costs accretion	1,729		—		(1,729)		—		—		—

Compensation plans: 2,174,867 net shares issued *	—		22		14,680		—		—		14,702
As of September 30, 2025	$	418,583	$	888	$	1,464,555	$	(548,380)	$	(75,198)	$	1,260,448


(in thousands)

Property and equipment:
Land and improvements	$	6,148
Buildings and improvements	16,237
Equipment	11,218
Computer software	345
Operating lease right-of-use assets	901
Goodwill	4,932
Indefinite-lived intangible assets - FCC licenses	24,601
Amortizable intangible assets:
Television network affiliation relationships	5,499
Customer lists and advertiser relationships	473
Other	704
Operating lease liabilities	(901)
Total net assets acquired	$	70,157


Liability as of December 31, 2024	$	9,653	$	—	$	9,653
Net charges	4,236		3,239		7,475
Payments	(13,681)		(240)		(13,921)
Non-cash (a)	(208)		(1,397)		(1,605)
Liability as of September 30, 2025	$	—	$	1,602	$	1,602


(in thousands, except lease term and discount rate)	As of September 30, 2026			As of December 31, 2025

Balance Sheet Information
Operating Leases
Right-of-use assets	$	80,720		$	95,975
Other current liabilities	18,883			18,974
Operating lease liabilities	73,326			85,885
Finance Leases
Property and equipment, at cost	28,321			28,321
Accumulated depreciation	(3,051)			(2,454)
Property and equipment, net	25,270			25,867

Other liabilities	31,783			31,462
Weighted Average Remaining Lease Term
Operating leases	10.88 years			10.20 years
Finance leases	31.75 years			32.50 years
Weighted Average Discount Rate
Operating leases	6.12		%	5.78		%
Finance leases	7.10		%	7.10		%


(in thousands)	Operating Leases		Finance Leases

Remainder of 2026	$	6,040	$	462
2027	22,329		1,875
2028	16,973		1,926
2029	14,616		1,979
2030	7,950		2,034
Thereafter	65,047		86,111
Total future minimum lease payments	132,955		94,387
Less: Imputed interest	(40,746)		(62,604)
Total	$	92,209	$	31,783


(in thousands)	WFTX		WRTV		Court TV		Total

Assets:
Total current assets	$	—	$	—	$	4,467	$	4,467
Property and equipment	11,585		6,228		78		17,891
Goodwill and intangible assets	25,347		48,290		3,884		77,521
Operating lease right-of-use assets	151		—		—		151
Other assets	523		452		21,386		22,361
Adjustment to carrying value to reflect estimated fair value less cost to sell	—		—		(19,458)		(19,458)
Total assets held for sale	37,606		54,970		10,357		102,933
Liabilities:
Total current liabilities	274		194		3,357		3,825
Operating lease liabilities	115		—		—		115
Other liabilities	2,969		154		—		3,123
Total liabilities held for sale	3,358		348		3,357		7,063
Net assets held for sale	$	34,248	$	54,622	$	7,000	$	95,870


Nine Months Ended September 30, 2026 and 2025 (in thousands)	Severance and Employee Benefits		Other Restructuring Charges		Total

Liability as of December 31, 2025	$	—	$	2,535	$	2,535
Net charges	16,564		38,691		55,255
Payments	(7,375)		(20,450)		(27,825)
Non-cash (a)	(857)		(14,857)		(15,714)
Liability as of September 30, 2026	$	8,332	$	5,919	$	14,251


(in thousands)	Local Media		Scripps Networks		Other		Total

Gross balance as of December 31, 2025	$	1,064,474	$	2,022,159	$	7,190	$	3,093,823
Accumulated impairment losses	(205,717)		(969,772)		—		(1,175,489)
Net balance as of December 31, 2025	858,757		1,052,387		7,190		1,918,334
Sale of television stations in Gray swap	(26,770)		—		—		(26,770)
Acquired television stations from Gray swap	4,932		—		—		4,932
WTVQ acquisition	1,720		—		—		1,720
Impairment charge	—		(966,682)		—		(966,682)
Balance as of September 30, 2026	$	838,639	$	85,705	$	7,190	$	931,534

Gross balance as of September 30, 2026	$	1,037,943	$	2,022,159	$	7,190	$	3,067,292
Accumulated impairment losses	(199,304)		(1,936,454)		—		(2,135,758)
Net balance as of September 30, 2026	$	838,639	$	85,705	$	7,190	$	931,534


	Three Months Ended September 30, 2026
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	368,821	$	172,993	$	541,814
Intersegment revenues	3,986		—		3,986
Reportable segments revenues	372,807		172,993		545,800
Other revenues(a)					3,047
Intersegment eliminations					(3,986)
Total consolidated operating revenues					$	544,861
Less:(b)
Employee compensation and benefits	99,046		18,969
Programming(c)	110,637		83,849
Other segment items(d)	45,573		37,161
Segment profit for reportable segments	117,551		33,014		$	150,565
Other segment loss(a)					(6,379)
Shared services and corporate					(25,922)

Restructuring costs					(18,771)
Depreciation and amortization of intangible assets					(31,331)

Gains (losses), net on disposal of property and equipment					(872)
Interest expense					(53,796)


Defined benefit pension plan expense					(733)

Miscellaneous, net					(1,132)
Income (loss) from operations before income taxes					$	11,629


	Three Months Ended September 30, 2025
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	320,636	$	200,956	$	521,592
Intersegment revenues	4,820		—		4,820
Reportable segments revenues	325,456		200,956		526,412
Other revenues(a)					4,262
Intersegment eliminations					(4,820)
Total consolidated operating revenues					$	525,854
Less:(b)
Employee compensation and benefits	105,115		22,120
Programming(c)	124,659		86,858
Other segment items(d)	42,881		38,679
Segment profit for reportable segments	52,801		53,299		$	106,100
Other segment loss(a)					(7,598)
Shared services and corporate					(21,387)
Restructuring costs					(2,718)
Depreciation and amortization of intangible assets					(37,208)

Gains (losses), net on disposal of property and equipment					434
Interest expense					(59,219)
Loss on extinguishment of debt					(7,622)
Other financing transaction costs					(6,466)
Defined benefit pension plan expense					(338)
Miscellaneous, net					(1,165)
Income (loss) from operations before income taxes					$	(37,187)


	Nine Months Ended September 30, 2026
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	1,018,640	$	520,922	$	1,539,562
Intersegment revenues	12,329		—		12,329
Reportable segments revenues	1,030,969		520,922		1,551,891
Other revenues(a)					12,568
Intersegment eliminations					(12,329)
Total consolidated operating revenues					$	1,552,130
Less:(b)
Employee compensation and benefits	304,209		61,269
Programming(c)	369,580		242,082
Other segment items(d)	137,128		112,785
Segment profit for reportable segments	220,052		104,786		$	324,838
Other segment loss(a)					(16,994)
Shared services and corporate					(80,087)

Restructuring costs					(55,255)
Depreciation and amortization of intangible assets					(101,739)
Impairment of goodwill and other intangible assets					(1,135,825)
Gains (losses), net on disposal of property and equipment					(422)
Interest expense					(164,864)
Loss on extinguishment of debt					(913)

Defined benefit pension plan expense					(2,200)
Gains (losses) from sale of business					38,881
Miscellaneous, net					(6,506)
Income (loss) from operations before income taxes					$	(1,201,086)


	Nine Months Ended September 30, 2025
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	971,414	$	604,728	$	1,576,142
Intersegment revenues	14,197		—		14,197
Reportable segments revenues	985,611		604,728		1,590,339
Other revenues(a)					14,185
Intersegment eliminations					(14,197)
Total consolidated operating revenues					$	1,590,327
Less:(b)
Employee compensation and benefits	314,599		64,949
Programming(c)	393,509		252,105
Other segment items(d)	133,962		114,334
Segment profit for reportable segments	143,541		173,340		$	316,881
Other segment loss(a)					(20,982)
Shared services and corporate					(65,778)
Restructuring costs					(7,475)
Depreciation and amortization of intangible assets					(112,866)

Gains (losses), net on disposal of property and equipment					31,922
Interest expense					(161,622)
Loss on extinguishment of debt					(10,594)
Other financing transaction costs					(44,537)
Defined benefit pension plan expense					(1,013)
Miscellaneous, net					(2,692)
Income (loss) from operations before income taxes					$	(78,756)


	Three Months Ended September 30, 2026
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, June 30, 2026	$	(64,315)	$	347	$	(63,968)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $73(a)	249		(21)		228
Net current-period other comprehensive income (loss)	249		(21)		228
Ending balance, September 30, 2026	$	(64,066)	$	326	$	(63,740)


	Nine Months Ended September 30,
(in thousands)	2026		2025


Net cash provided by operating activities	$	148,868	$	7,969
Net cash provided by investing activities	72,760		1,532
Net cash provided by (used in) financing activities	(166,161)		21,312

Increase in cash and cash equivalents	$	55,467	$	30,813


1.			pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company;


2.			provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and the directors of the Company; and


3.			provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.