Scripps reports Q3 2024 financial results
E.W. Scripps reported record Q3 2024 revenue of $646 million, up 14% year-over-year, driven by strong political advertising. Income attributable to shareholders was $33 million or $0.37 per share. The company expects full-year political advertising revenue to reach at least $340 million, exceeding previous guidance of $270-$290 million. During Q3, Scripps paid down $115 million of debt, reducing leverage ratio from 6.0x to 5.1x. The Local Media segment revenue grew 26% to $446 million, while Scripps Networks revenue declined 6.4% to $202 million.
E.W. Scripps ha riportato un fatturato record per il terzo trimestre del 2024 di 646 milioni di dollari, in aumento del 14% rispetto all'anno precedente, sostenuto da una forte pubblicità politica. Il reddito attribuibile agli azionisti è stato di 33 milioni di dollari, ovvero $0,37 per azione. L'azienda prevede che il fatturato annuo della pubblicità politica raggiunga almeno 340 milioni di dollari, superando le precedenti stime di 270-290 milioni di dollari. Durante il terzo trimestre, Scripps ha ridotto il debito di 115 milioni di dollari, facendo scendere il rapporto di indebitamento da 6,0x a 5,1x. I ricavi del segmento Media Locale sono aumentati del 26% a 446 milioni di dollari, mentre i ricavi di Scripps Networks sono diminuiti del 6,4% a 202 milioni di dollari.
E.W. Scripps informó de unos ingresos récord de 646 millones de dólares en el tercer trimestre de 2024, un aumento del 14% en comparación con el año anterior, impulsado por una fuerte publicidad política. La renta atribuible a los accionistas fue de 33 millones de dólares o $0,37 por acción. La empresa espera que los ingresos anuales por publicidad política alcancen al menos 340 millones de dólares, superando la guía anterior de 270-290 millones de dólares. Durante el tercer trimestre, Scripps pagó 115 millones de dólares de deuda, reduciendo la relación de apalancamiento de 6.0x a 5.1x. Los ingresos del segmento de Medios Locales crecieron un 26% a 446 millones de dólares, mientras que los ingresos de Scripps Networks disminuyeron un 6.4% a 202 millones de dólares.
E.W. Scripps는 2024년 3분기에 기록적인 6억 4600만 달러의 매출을 보고했으며, 이는 전년 대비 14% 증가한 수치로, 강력한 정치 광고에 의해 촉진되었습니다. 주주에게 귀속된 수익은 3300만 달러였으며, 주당 $0.37입니다. 해당 회사는 연간 정치 광고 수익이 최소 3억 4000만 달러2억 7000만-2억 9000만 달러의 예상치를 초과하는 것입니다. 3분기 동안 Scripps는 1억 1500만 달러의 부채를 상환하며, 부채 비율을 6.0배에서 5.1배로 줄였습니다. 로컬 미디어 부문의 매출은 4억 4600만 달러로 26% 증가했으며, Scripps 네트워크의 매출은 2억 200만 달러로 6.4% 감소했습니다.
E.W. Scripps a annoncé un chiffre d'affaires record de 646 millions de dollars pour le troisième trimestre 2024, en hausse de 14 % par rapport à l'an dernier, soutenu par une forte publicité politique. Le revenu attribuable aux actionnaires était de 33 millions de dollars, soit 0,37 $ par action. L'entreprise s'attend à ce que le chiffre d'affaires annuel de la publicité politique atteigne au moins 340 millions de dollars, dépassant les prévisions précédentes de 270-290 millions de dollars. Au cours du troisième trimestre, Scripps a remboursé 115 millions de dollars de dettes, réduisant ainsi son ratio d'endettement de 6,0x à 5,1x. Le chiffre d'affaires du segment des médias locaux a augmenté de 26 % pour atteindre 446 millions de dollars, tandis que le chiffre d'affaires des réseaux Scripps a diminué de 6,4 % pour atteindre 202 millions de dollars.
E.W. Scripps berichtete im dritten Quartal 2024 von einem Rekordumsatz von 646 Millionen Dollar, was einem Anstieg von 14 % im Vergleich zum Vorjahr entspricht, angetrieben durch starke politische Werbung. Der den Aktionären zurechenbare Gewinn betrug 33 Millionen Dollar oder 0,37 Dollar pro Aktie. Das Unternehmen erwartet, dass der gesamte Jahresumsatz aus politischer Werbung mindestens 340 Millionen Dollar erreichen wird, was die vorherige Prognose von 270-290 Millionen Dollar übertrifft. Im dritten Quartal hat Scripps 115 Millionen Dollar Schulden abgebaut, wodurch das Verschuldungsverhältnis von 6,0x auf 5,1x gesenkt wurde. Der Umsatz im Bereich Lokale Medien stieg um 26 % auf 446 Millionen Dollar, während der Umsatz der Scripps Networks um 6,4 % auf 202 Millionen Dollar zurückging.
- Record Q3 revenue of $646 million, up 14% YoY
- Political advertising revenue expected to reach $340 million, exceeding guidance
- Debt reduction of $115 million in Q3
- Leverage ratio improved from 6.0x to 5.1x
- Local Media segment revenue up 26% to $446 million
- WNBA revenue doubled compared to 2023 season
- Core advertising revenue decreased 9.2% to $129 million
- Distribution revenue declined to $186 million from $198 million
- Networks revenue down 6.4% to $202 million
- Networks segment profit decreased to $42.1 million from $49.7 million
- Suspended preferred stock dividend payments
Insights
The Q3 results showcase significant financial strength with
Core advertising faced pressure, declining
The WNBA programming success on ION demonstrates Scripps' ability to monetize sports content effectively, with viewership doubling year-over-year and revenue increasing
The Networks division's projected margin improvement of 400-600 basis points in 2025, combined with strategic cost controls at Scripps News, suggests a well-executed transformation plan. This performance indicates the company's successful adaptation to evolving media consumption patterns while maintaining traditional revenue streams.
Income attributable to the shareholders of Scripps was
Business notes:
- The company expects total 2024 presidential-year political advertising revenue in the Local Media division to reach at least
, a record level that far exceeded the guidance of$340 million Scripps issued in August. The results were driven by strong advertising buys with Scripps stations in$270 -$290 million Arizona ,Michigan ,Montana ,Ohio ,Nevada andWisconsin . The political advertising demand caused significant displacement of core advertising in those 15 markets. - The record political advertising revenue helped the company achieve record third-quarter revenue of
.$646 million - In the Scripps Networks division, tight expense management resulted in a nearly
4% decline in expenses. For the fourth quarter, Scripps expects an even greater decline in Networks expense, down in the high single-digits percent range, because of reductions at Scripps News and ongoing cost controls. - This WNBA season, seven of ION's Friday night franchise telecasts surpassed 1 million viewers. The average ratings across the season more than doubled from last year, proving the value of the platform to attract key demos with live sports. ION's top-performing night was Aug. 30, when the Indiana Fever and Chicago Sky played on the national network, drawing about 1.6 million viewers and a peak of nearly 2 million. Scripps' full-season 2024 WNBA revenue was double that of the 2023 season.
- During the third quarter, the company paid down
of debt and ended the quarter with a leverage ratio of 5.1x, a significant improvement from 6.0x at the end of Q2. The company will pay down a total of approximately$115 million in debt this year.$300 million
From Scripps President and CEO Adam Symson:
"Scripps' Local Media political advertising revenue came in nearly
"Scripps' record political advertising revenue translated to record third-quarter company revenue this year and combined with prudent expense management to help us significantly exceed expectations for third-quarter EBITDA. These results helped drive our leverage ratio down by nearly a full turn, from 6.0x in the second quarter to 5.1x at the end of the third. And with a strong finish to political and our fourth-quarter performance, we expect to continue to deleverage to the high-4x range by year-end.
"Through continued expense management and prudent growth initiatives, we expect our operating performance improvement will continue into next year across the enterprise, including a Scripps Networks margin improvement of at least 400-600 basis points in 2025. I hope it's clear that we are effectively executing a plan to improve our operating performance and manage down the company's debt to better position Scripps for future growth."
Operating results
Total third-quarter company revenue was
Income attributable to the shareholders of Scripps was
Third-quarter 2024 results by segment compared to prior-period amounts:
Local Media
Revenue was
- Core advertising revenue decreased
9.2% to , due in part to displacement from political advertising.$129 million - Political revenue was
, compared to$125 million in the prior-year quarter, a non-election year.$9.1 million - Distribution revenue was
, compared to$186 million in the prior-year quarter.$198 million
Segment expenses increased
Segment profit was
Scripps Networks
Revenue was
Segment profit was
Financial condition
On Sept. 30, cash and cash equivalents totaled
During the first nine months of 2024, we reduced the outstanding balance on our revolving credit facility by
We did not declare or provide payment for any of the 2024 quarterly preferred stock dividends. We have sufficient liquidity to pay the scheduled dividends on the preferred shares; however, this action provides us better flexibility for accelerating deleveraging and maximizing the paydown of our traditional bank debt. The dividend rate on the preferred shares, which compounds quarterly, increased to
Year-to-date operating results
The following comparisons are to the period ending Sept. 30, 2023:
Revenue was
Costs and expenses for segments, shared services and corporate were
Income attributable to the shareholders of Scripps was
Looking ahead
Comparisons for our segments are to the same period in 2023.
Fourth-quarter 2024 | ||
Local Media revenue | Up low-to-mid | |
Local Media expense | Up mid-single-digit percent range | |
Scripps Networks revenue | Down mid-single-digit percent range | |
Scripps Networks expense | Down high-single-digit percent range | |
Shared services and corporate | About |
Conference call
The senior management of The E.W. Scripps Company will discuss the company's quarterly results during a telephone conference call at 9 a.m. Eastern, today, Nov. 4. To access the live webcast, visit http://ir.scripps.com and find the link under "upcoming events."
To access the conference call by telephone, dial (844) 867-6169 (
A replay line will be open from 12:30 p.m. Eastern time Nov. 4 until midnight Dec. 4. The domestic number to access the replay is (866) 207-1041 and the international number is (402) 970-0847. The access code for both numbers is 7917219.
A replay of the conference call will be archived and available online for an extended period of time following the call. To access the audio replay, visit http://ir.scripps.com/ approximately four hours after the call, and the link can be found on that page under "audio/video links."
Forward-looking statements
This document contains "forward-looking statements" within the meaning of the safe harbor provisions of the
Media contact: Michael Perry, The E.W. Scripps Company, (513) 259-4718, michael.perry@scripps.com
Investor contact: Carolyn Micheli, The E.W. Scripps Company, (513) 977-3732, carolyn.micheli@scripps.com
About Scripps
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the
THE E.W. SCRIPPS COMPANY | ||||||||
RESULTS OF OPERATIONS | ||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
(in thousands, except per share data) | 2024 | 2023 | 2024 | 2023 | ||||
Operating revenues | $ 646,300 | $ 566,529 | $ 1,781,393 | $ 1,677,143 | ||||
Segment, shared services and corporate expenses | (472,267) | (469,076) | (1,425,132) | (1,395,508) | ||||
Restructuring costs | (12,665) | (4,705) | (18,653) | (29,208) | ||||
Depreciation and amortization of intangible assets | (38,861) | (38,588) | (116,017) | (115,759) | ||||
Impairment of goodwill | — | — | — | (686,000) | ||||
Gains (losses), net on disposal of property and equipment | (727) | (1,066) | (717) | (2,320) | ||||
Operating expenses | (524,520) | (513,435) | (1,560,519) | (2,228,795) | ||||
Operating income (loss) | 121,780 | 53,094 | 220,874 | (551,652) | ||||
Interest expense | (54,442) | (56,916) | (161,482) | (158,029) | ||||
Defined benefit pension plan income | 152 | 251 | 506 | 519 | ||||
Miscellaneous, net | 447 | 1,309 | 16,849 | 131 | ||||
Income (loss) from operations before income taxes | 67,937 | (2,262) | 76,747 | (709,031) | ||||
Benefit (provision) for income taxes | (20,161) | (1,391) | (25,916) | 17,009 | ||||
Net income (loss) | 47,776 | (3,653) | 50,831 | (692,022) | ||||
Preferred stock dividends | (14,743) | (12,576) | (43,552) | (37,729) | ||||
Net income (loss) attributable to the shareholders of The E.W. | $ 33,033 | $ (16,229) | $ 7,279 | $ (729,751) | ||||
Net income (loss) per diluted share of common stock | $ 0.37 | $ (0.19) | $ 0.08 | $ (8.67) | ||||
Weighted average diluted shares outstanding | 86,067 | 84,433 | 85,546 | 84,162 |
See notes to results of operations. |
Notes to Results of Operations
1. SEGMENT INFORMATION
We determine our business segments based upon our management and internal reporting structures, as well as the basis on which our chief operating decision maker makes resource-allocation decisions.
Our Local Media segment includes more than 60 local television stations and their related digital operations. It is comprised of 18 ABC affiliates, 11 NBC affiliates, nine CBS affiliates and four FOX affiliates. We also have 11 independent stations and 10 additional low power stations. Our Local Media segment earns revenue primarily from the sale of advertising to local, national and political advertisers and retransmission fees received from cable operators, telecommunications companies, satellite carriers and over-the-top virtual MVPDs.
Our Scripps Networks segment includes national news outlets Scripps News and Court TV as well as popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff. The Scripps Networks reach nearly every
Our respective business segment results reflect the impact of intercompany carriage agreements between our local broadcast television stations and our national networks. We also allocate a portion of certain corporate costs and expenses, including accounting, human resources, employee benefit and information technology to our business segments. These intercompany agreements and allocations are generally amounts agreed upon by management, which may differ from an arms-length amount.
The other segment caption aggregates our operating segments that are too small to report separately. Costs for centrally provided services and certain corporate costs that are not allocated to the business segments are included in shared services and corporate costs. These unallocated corporate costs would also include the costs associated with being a public company. Corporate assets are primarily cash and cash equivalents, property and equipment primarily used for corporate purposes and deferred income taxes.
Our chief operating decision maker evaluates the operating performance of our business segments and makes decisions about the allocation of resources to our business segments using a measure called segment profit. Segment profit excludes interest, defined benefit pension plan amounts, income taxes, depreciation and amortization, impairment charges, divested operating units, restructuring activities, investment results and certain other items that are included in net income (loss) determined in accordance with accounting principles generally accepted in
Information regarding the operating results of our business segments is as follows:
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
(in thousands) | 2024 | 2023 | Change | 2024 | 2023 | Change | ||||||
Segment operating revenues: | ||||||||||||
Local Media | $ 445,553 | $ 353,061 | 26.2 % | $ 1,163,315 | $ 1,017,203 | 14.4 % | ||||||
Scripps Networks | 201,672 | 215,393 | (6.4) % | 619,670 | 663,095 | (6.5) % | ||||||
Other | 3,843 | 2,620 | 46.7 % | 12,702 | 10,149 | 25.2 % | ||||||
Intersegment eliminations | (4,768) | (4,545) | 4.9 % | (14,294) | (13,304) | 7.4 % | ||||||
Total operating revenues | $ 646,300 | $ 566,529 | 14.1 % | $ 1,781,393 | $ 1,677,143 | 6.2 % | ||||||
Segment profit (loss): | ||||||||||||
Local Media | $ 160,685 | $ 74,865 | $ 314,371 | $ 201,725 | 55.8 % | |||||||
Scripps Networks | 42,061 | 49,661 | (15.3) % | 129,462 | 161,530 | (19.9) % | ||||||
Other | (7,744) | (6,263) | 23.6 % | (23,377) | (14,074) | 66.1 % | ||||||
Shared services and corporate | (20,969) | (20,810) | 0.8 % | (64,195) | (67,546) | (5.0) % | ||||||
Restructuring costs | (12,665) | (4,705) | (18,653) | (29,208) | ||||||||
Depreciation and amortization of | (38,861) | (38,588) | (116,017) | (115,759) | ||||||||
Impairment of goodwill | — | — | — | (686,000) | ||||||||
Gains (losses), net on disposal of property | (727) | (1,066) | (717) | (2,320) | ||||||||
Interest expense | (54,442) | (56,916) | (161,482) | (158,029) | ||||||||
Defined benefit pension plan income | 152 | 251 | 506 | 519 | ||||||||
Miscellaneous, net | 447 | 1,309 | 16,849 | 131 | ||||||||
Income (loss) from operations before | $ 67,937 | $ (2,262) | $ 76,747 | $ (709,031) |
Operating results for our Local Media segment were as follows:
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
(in thousands) | 2024 | 2023 | Change | 2024 | 2023 | Change | ||||||
Segment operating revenues: | ||||||||||||
Core advertising | $ 129,256 | $ 142,295 | (9.2) % | $ 404,805 | $ 433,057 | (6.5) % | ||||||
Political | 125,213 | 9,130 | 168,530 | 16,501 | ||||||||
Distribution | 186,480 | 197,842 | (5.7) % | 578,170 | 556,549 | 3.9 % | ||||||
Other | 4,604 | 3,794 | 21.3 % | 11,810 | 11,096 | 6.4 % | ||||||
Total operating revenues | 445,553 | 353,061 | 26.2 % | 1,163,315 | 1,017,203 | 14.4 % | ||||||
Segment costs and expenses: | ||||||||||||
Employee compensation and benefits | 111,767 | 109,566 | 2.0 % | 324,062 | 325,748 | (0.5) % | ||||||
Programming | 124,747 | 122,923 | 1.5 % | 378,603 | 360,749 | 4.9 % | ||||||
Other expenses | 48,354 | 45,707 | 5.8 % | 146,279 | 128,981 | 13.4 % | ||||||
Total costs and expenses | 284,868 | 278,196 | 2.4 % | 848,944 | 815,478 | 4.1 % | ||||||
Segment profit | $ 160,685 | $ 74,865 | $ 314,371 | $ 201,725 | 55.8 % |
Operating results for our Scripps Networks segment were as follows:
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
(in thousands) | 2024 | 2023 | Change | 2024 | 2023 | Change | ||||||
Total operating revenues | $ 201,672 | $ 215,393 | (6.4) % | $ 619,670 | $ 663,095 | (6.5) % | ||||||
Segment costs and expenses: | ||||||||||||
Employee compensation and benefits | 31,364 | 30,630 | 2.4 % | 91,126 | 94,383 | (3.5) % | ||||||
Programming | 87,693 | 91,459 | (4.1) % | 275,329 | 269,543 | 2.1 % | ||||||
Other expenses | 40,554 | 43,643 | (7.1) % | 123,753 | 137,639 | (10.1) % | ||||||
Total costs and expenses | 159,611 | 165,732 | (3.7) % | 490,208 | 501,565 | (2.3) % | ||||||
Segment profit | $ 42,061 | $ 49,661 | (15.3) % | $ 129,462 | $ 161,530 | (19.9) % |
2. CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands) | As of September 30, 2024 | As of | ||
ASSETS | ||||
Current assets: | ||||
Cash and cash equivalents | $ 34,642 | $ 35,319 | ||
Other current assets | 594,868 | 640,774 | ||
Total current assets | 629,510 | 676,093 | ||
Investments | 23,901 | 23,265 | ||
Property and equipment | 460,117 | 455,255 | ||
Operating lease right-of-use assets | 94,495 | 99,194 | ||
Goodwill | 1,968,574 | 1,968,574 | ||
Other intangible assets | 1,658,788 | 1,727,178 | ||
Programming | 409,815 | 449,943 | ||
Miscellaneous | 8,947 | 10,618 | ||
TOTAL ASSETS | $ 5,254,147 | $ 5,410,120 | ||
LIABILITIES AND EQUITY | ||||
Current liabilities: | ||||
Accounts payable | $ 69,378 | $ 76,383 | ||
Unearned revenue | 30,279 | 12,181 | ||
Current portion of long-term debt | 15,612 | 15,612 | ||
Accrued expenses and other current liabilities | 355,329 | 373,643 | ||
Total current liabilities | 470,598 | 477,819 | ||
Long-term debt (less current portion) | 2,737,126 | 2,896,824 | ||
Other liabilities (less current portion) | 827,205 | 879,294 | ||
Total equity | 1,219,218 | 1,156,183 | ||
TOTAL LIABILITIES AND EQUITY | $ 5,254,147 | $ 5,410,120 |
3. EARNINGS PER SHARE ("EPS")
Unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents, such as our RSUs, are considered participating securities for purposes of calculating EPS. Under the two-class method, we allocate a portion of net income to these participating securities and, therefore, exclude that income from the calculation of EPS for common stock. We do not allocate losses to the participating securities.
The following table presents information about basic and diluted weighted-average shares outstanding:
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
(in thousands) | 2024 | 2023 | 2024 | 2023 | ||||
Numerator (for basic and diluted earnings per share) | ||||||||
Net income (loss) | $ 47,776 | $ (3,653) | $ 50,831 | $ (692,022) | ||||
Less income allocated to RSUs | (1,223) | — | (280) | — | ||||
Less preferred stock dividends | (14,743) | (12,576) | (43,552) | (37,729) | ||||
Numerator for basic and diluted earnings per share | $ 31,810 | $ (16,229) | $ 6,999 | $ (729,751) | ||||
Denominator | ||||||||
Basic weighted-average shares outstanding | 86,067 | 84,433 | 85,546 | 84,162 | ||||
Effect of dilutive securities | — | — | — | — | ||||
Diluted weighted-average shares outstanding | 86,067 | 84,433 | 85,546 | 84,162 |
4. NON-GAAP INFORMATION
In addition to results prepared in accordance with GAAP, this earnings release discusses adjusted EBITDA, a non-GAAP performance measure that management and the company's Board of Directors uses to evaluate the performance of the business. We also believe that the non-GAAP measure provides useful information to investors by allowing them to view our business through the eyes of management and is a measure that is frequently used by industry analysts, investors and lenders as a measure of valuation for broadcast companies.
Adjusted EBITDA is calculated as income (loss) from continuing operations, net of tax, plus income tax expense (benefit), interest expense, losses (gains) on extinguishment of debt, defined benefit pension plan expense (income), share-based compensation costs, depreciation, amortization of intangible assets, impairment of goodwill, loss (gain) on business and asset disposals, acquisition and integration costs, restructuring charges and certain other miscellaneous items. We consider adjusted EBITDA to be an indicator of our operating performance.
A reconciliation of the adjusted EBITDA measure to the comparable financial measure in accordance with GAAP is as follows:
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
(in thousands) | 2024 | 2023 | 2024 | 2023 | ||||
Net income (loss) | $ 47,776 | $ (3,653) | $ 50,831 | $ (692,022) | ||||
Provision (benefit) for income taxes | 20,161 | 1,391 | 25,916 | (17,009) | ||||
Interest expense | 54,442 | 56,916 | 161,482 | 158,029 | ||||
Defined benefit pension plan income | (152) | (251) | (506) | (519) | ||||
Share-based compensation costs | 2,813 | 3,418 | 12,389 | 16,067 | ||||
Depreciation | 15,811 | 15,100 | 46,081 | 45,290 | ||||
Amortization of intangible assets | 23,050 | 23,488 | 69,936 | 70,469 | ||||
Impairment of goodwill | — | — | — | 686,000 | ||||
Losses (gains), net on disposal of property and equipment | 727 | 1,066 | 717 | 2,320 | ||||
Restructuring costs | 12,665 | 4,705 | 18,653 | 29,208 | ||||
Miscellaneous, net | (447) | (1,309) | (16,849) | (131) | ||||
Adjusted EBITDA | $ 176,846 | $ 100,871 | $ 368,650 | $ 297,702 |
5. SUPPLEMENTAL CASH FLOW INFORMATION
The following table presents additional information on certain sources and uses of cash:
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
(in thousands) | 2024 | 2023 | 2024 | 2023 | ||||
Capital expenditures | $ (13,451) | $ (16,843) | $ (54,497) | $ (41,953) | ||||
Preferred stock dividends paid | — | (12,000) | — | (36,000) | ||||
Interest paid | (67,965) | (67,508) | (169,123) | (161,370) | ||||
Income taxes paid | (16,732) | (13,042) | (51,302) | (25,932) | ||||
Mandatory contributions to defined retirement plans | (281) | (254) | (868) | (884) |
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SOURCE The E.W. Scripps Company
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