Scripps reports Q3 2025 financial results

Core Insights - The E.W. Scripps Company reported $526 million in revenue for Q3 2025, a decrease of 19% or $120 million from the previous year [6][24] - The company experienced a loss attributable to shareholders of $49 million, equating to 55 cents per share, compared to a profit of $33 million or 37 cents per share in the prior-year quarter [7][24] - Scripps has successfully reduced its leverage ratio to 4.6x by the end of Q3 2025, down from 4.9x at the start of the year [3][12] Financial Performance - Local Media segment revenue was $325 million, down 27% from the prior-year quarter, with segment profit dropping to $52.8 million from $161 million [8][9] - Scripps Networks segment revenue was $201 million, a slight decrease of 0.4%, but segment profit increased to $53.3 million from $42.1 million [10][34] - Total costs and expenses for the company decreased to $449 million from $472 million in the year-ago quarter [6][24] Strategic Initiatives - The company has focused on expense discipline, achieving a reduction of over 4% in Local Media and 7.5% in Scripps Networks [4][5] - Scripps announced the sale of two stations for $123 million, which is above industry average valuations, contributing to a healthier balance sheet [3][5] - The company is leveraging sports partnerships and programming to drive growth, with core advertising revenue in Local Media up 2% in Q3 [5][14] Future Outlook - For Q4 2025, Local Media revenue is expected to decline by about 30%, while Scripps Networks revenue is projected to decrease in the low double-digit percentage range [18] - The company anticipates strong core revenue growth in Q4, supported by new agreements and continued growth in live sports markets [5][18] - Scripps is committed to optimizing its portfolio and embracing technology to enhance operational efficiencies [6][3]