Core Insights - The E.W. Scripps Company reported 728millioninrevenueforQ42024,an1880.3 million, or 92 cents per share, compared to a loss of 268millionintheprior−yearquarter[7][24]−Scrippsisfocusedondebtreduction,achievingaleverageratioof4.8xatyear−end2024,downfrom5.7xatyear−end2023[3][9]FinancialPerformance−Q42024revenuewas728 million, up 113millionfromthepreviousyear,withsegmentexpensesslightlydecreasingto502 million [6][23] - Political advertising revenue reached 174million,asignificantincreasefrom16.4 million in the prior-year quarter, while core advertising revenue decreased by 11% to 147million[10][31]−TheScrippsNetworkssegmentsawarevenuedeclineof6.1216 million, with segment profit decreasing to 60.7million[12][31]SegmentAnalysis−LocalMediasegmentrevenuewas511 million, a 34% increase from the prior-year quarter, with segment profit rising to 198.8million[8][31]−ScrippsNetworkssegmentexpensesdecreasedby6.3155 million, but the segment's profit also declined by 5.5% [12][31] - The company anticipates a margin improvement of 400-600 basis points in the Scripps Networks division for 2025 [4] Debt and Financial Strategy - The company has entered into agreements to refinance debt, extending the maturity of its term loans and revolving credit facilities [9] - Cash and cash equivalents at year-end totaled 23.9million,withtotaldebtat2.6 billion [13][34] - The company did not declare or pay any preferred stock dividends in 2024, allowing for greater flexibility in debt reduction [14] Industry Outlook - Scripps anticipates regulatory changes in the local broadcast environment under new FCC leadership, which may enhance economic growth opportunities [5] - The company is committed to improving its operating performance and deepening community connections to unlock shareholder value [5]
Scripps(SSP) Prnewswire·2025-03-11 21:30