SSP · E.W. SCRIPPS Co
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AI Brief
Q2 FY26 earnings call · Aug 7, 2026TL;DR. Scripps reported a $1.2 billion Q2 loss driven by a $1.1 billion non-cash impairment at Scripps Networks, with Networks revenue down 16% and segment profit down ~54% as Nielsen measurement changes and a weak direct-response market pressured results; the company raised its year-end run-rate cost-savings target to $100 million, completed new retransmission deals and station M&A, and lifted full-year political guidance to $225–$250 million.
- + Raised year-end run-rate cost-savings target to $100 million (up 33% from prior guide).
- + Lifted full-year political ad outlook to a record $225–$250 million.
- + Completed three major retransmission/distribution renewals, with net distribution revenue guided up mid-to-high single digits for the year.
- + Expanded Scripps Sports with first NBA deal (Detroit Pistons), fifth NHL team (Nashville Predators), and Women's Volleyball World Cup on ION.
- + Completed accretive station M&A including Lexington duopoly and Gray swap, with no near-term debt deadlines after extending revolver to 2029.
- − Reported $1.2 billion Q2 net loss, or $12.68 per share, driven by a $1.1 billion non-cash Networks goodwill/intangibles impairment.
- − Local Media distribution revenue fell 17% (~$32.1M) due to Comcast/DirecTV blackouts, with $26.7M direct Q2 impact.
- − Eliminated 268 positions this week (~12% of workforce year-to-date) with $35.8M in Q2 restructuring costs.
- − Net leverage rose to 4.9x (from 4.4x) with $2.2B net debt; shared services & corporate expenses up 26.4%.
- − CEO said Q2 results did not meet expectations, with continued linear viewing declines, ad-market uncertainty, and blackouts.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $121.99M | Six Months Ended June 30, 2026 | — |
| Capital expenditures | -$18.89M | Six Months Ended June 30, 2026 | — |
| Local Media adjusted combined segment profit non-GAAP | $99.49M | Six Months Ended June 30, 2026 | — |
| Scripps Networks adjusted combined segment profit non-GAAP | $25.51M | Three Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Broadcasting — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SSP
this stock
E.W. SCRIPPS Co
|
$255.77M | -26.8% | -14.3% | — | 5.0% |
|
SKPJF
SKY Perfect JSAT Holdings Inc
|
$6.34B | — | — | — | 0.1% |
|
NXST
Nexstar Media Group, Inc.
|
$4.99B | -22.5% | -8.5% | 30.8 | 8.2% |
|
SGBAF
Ses S.A.
|
$2.15B | -27.8% | — | — | 0.0% |
|
NMAX
Newsmax Inc.
|
$1.40B | +29.5% | +10.7% | — | 4.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SSP | +11.9% | -9.0% | -39.3% | +12.3% | -26.8% |
| SPY | +2.0% | +1.7% | +11.3% | +2.2% | +14.3% |
| vs SPY | +9.9% | -10.7% | -50.6% | +10.2% | -41.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.