The E.W. Scripps Company reported $524 million in revenue for the first quarter of 2025, a decrease of 6.6% from the prior-year quarter, but outperformed financial expectations. The loss attributable to shareholders was $18.8 million, or 22 cents per share, which was 26.7% above analysts' consensus estimates.
The Scripps Networks segment demonstrated notable operational improvement, with segment profit increasing by 29.1% to $64.1 million, achieving its highest margins since Q4 2022. This was driven by effective sales execution and disciplined expense management, with total segment costs decreasing by 16.1%.
The Local Media segment's revenue decreased by 7.8% to $325 million, with segment profit falling to $34.9 million from $65.6 million in Q1 2024, impacted by decreases in core advertising, political revenue, and distribution revenue. Despite these headwinds, the company completed its previously announced refinancing transactions on April 10, 2025, extending debt maturities.
For the second quarter of 2025, Local Media revenue is guided to be down in the high single-digit range, while Scripps Networks revenue is expected to be about flat, with expenses guided down in the low double-digit range. The company also announced new distribution agreements for women's sports, including the SI Women's Games and the Elevance Health Women's Fort Myers Tip-Off, to meet advertiser demand.
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