Scripps reports Q4 2025 financial results

Core Insights - The E.W. Scripps Company reported $560 million in revenue for Q4 2025, a decrease of 23% or $168 million from the previous year, with a loss attributable to shareholders of $44.9 million or 51 cents per share [1][7][8]. Financial Performance - The company experienced a significant decline in revenue, with Local Media revenue at $360 million, down 30% year-over-year, and Scripps Networks revenue at $199 million, down 7.7% [9][11]. - Total operating revenues for the year were $2.2 billion, a decrease of 14% or $359 million from the prior year [16]. - The loss attributable to shareholders for the year was $164 million or $1.87 per share, compared to a profit of $87.6 million or $1.01 per share in the previous year [17]. Segment Performance - Local Media segment profit fell to $50 million, a 74.8% decrease from the prior year, while Scripps Networks segment profit increased by 4.6% to $63.5 million [10][11]. - Core advertising revenue in the Local Media segment increased by 12% to $165 million, while political revenue dropped significantly to $9 million from $174 million in the prior year [15]. Strategic Initiatives - The company announced a transformation plan targeting annualized enterprise EBITDA growth of $125 million to $150 million by 2028, leveraging technology such as AI and automation [4][6]. - Scripps is well-positioned to benefit from record mid-term election spending, with political advertising projected to reach nearly $11 billion in 2026 [3][6]. Financial Condition - As of December 31, cash and cash equivalents totaled $27.9 million, with total debt at $2.6 billion [12]. - The company issued $1.6 billion in new long-term debt during 2025 and made significant payments on existing debt, totaling $2 billion [13]. Future Outlook - For Q1 2026, Scripps expects Local Media revenue to grow in the low- to mid-single-digit percent range, while Scripps Networks revenue is anticipated to decline in the high-single-digit percent range [19]. - The company plans to close on the sale of its Fox affiliate WFTX and ABC affiliate WRTV, with proceeds expected to total $123 million [6].