Scripps reports Q3 2026 financial results
Key Highlights
- ➤Q3 revenue $545 million, up 3.6% year over year
- ➤Net income $20.7 million, or $0.21 per share, versus prior-year loss
- ➤Local Media revenue $373 million, up 15%, with segment profit reaching $118 million
- ➤Scripps Networks revenue $173 million, down 14%, while segment profit fell to $33 million
- ➤Scripps plans to repay at least $150 million of debt in Q4
Expert Statements
Adam Symson, President and CEO of The E.W. Scripps Company
“During this contentious 2026 midterm election cycle, broadcast television continued to prove itself to be the best vehicle for reaching voters because we provide a trustworthy platform in a politically polarizing climate. Local TV platforms took nearly half of the record $11.9 billion spent this year, according to AdImpact. Scripps’ strong political footprint drove our full-year political ad revenue 44% above our 2022 midterm results. Our performance benefited from our local sports strategy, strong connected TV business and dedicated political sales force.”
Adam Symson, President and CEO of The E.W. Scripps Company
“The companywide transformation we launched in February is well underway and on track to deliver both on our commitment to evolve the company’s products and the expected benefit to enterprise EBITDA next year. Our goal is to ensure Scripps remains a strong media company positioned to serve our communities and preserve local journalism by adapting to how Americans consume news and information. In part aided by technology, our teams are producing more reporting from the field, deepening our community news coverage and expanding our reach to audiences across broadcast, streaming, digital and social platforms while improving the segment profit of our business.”
Adam Symson, President and CEO of The E.W. Scripps Company
“In our Scripps Networks division, we saw a modest sequential recovery in our third-quarter revenue and profit margin, bolstered by the early impact of Nielsen’s updated ratings methodology and 37% growth in revenue from our connected TV/streaming platform distribution. Disciplined expense management drove a year-over-year decline in total adjusted combined expenses when you factor out the first-year impact of our new WNBA contract.”
Adam Symson, President and CEO of The E.W. Scripps Company
“The work underway reflects our priorities to improve our earnings trajectory, strengthen the balance sheet and best serve American media consumers. At the same time, we continue to evaluate accretive M&A opportunities with discipline, focusing on transactions that enhance our financial position and strategic flexibility within our current balance sheet.”
CINCINNATI, Nov. 05, 2026 (GLOBE NEWSWIRE) -- The E.W. Scripps Company (NASDAQ: SSP) delivered $545 million in revenue for the third quarter of 2026. Income attributable to the shareholders of Scripps was $20.7 million or 21 cents per share.
Recent company events: * Through Election Day on Tuesday, Scripps generated $284 million in full-year Local Media division political advertising revenue – 44% above the 2022 midterm election cycle. * Scripps continues to make progress on its company transformation plan and expense reductions to generate $125-$150 million of enterprise EBITDA growth by 2028 through cost savings and revenue initiatives. The impact of the transformation work will be most evident beginning in the fourth-quarter results as the company will have implemented about $100 million in annual run-rate savings by year end. In 2026, we reduced our workforce by about 20%. * On the revenue growth side of the transformation, more than 70 initiatives are in the pipeline, focused on yielding more revenue from businesses we own and creating new revenue from adjacent business areas. * By the end of the year, Scripps will have nearly completed its connected local newsrooms transformation, positioning its news operations for the streaming world to meet consumers where they are watching. The connected newsrooms integrate AI and automation technology to adapt stories for all digital and broadcast platforms, putting the news teams’ work in front of new audiences and driving new streams of revenue with a more durable cost structure. * The Scripps Networks division’s third-quarter revenue benefited from Nielsen’s Sept. 1 ratings methodology change to more accurately measure over-the-air households after negative impact from their changes earlier in the year. Connected TV revenue grew 37%, and Scripps now expects it to end the year at about $155 million. Despite those tailwinds, pressure from the economy and the impact of low consumer confidence on direct response advertising led to revenue down 11% on an adjusted combined basis. * Scripps Networks division adjusted combined expenses were up 0.9%, driven by the new WNBA contract this year. For the fourth quarter, the company expects division expenses to begin a downward trend as transformation cost initiatives take effect. * The company ended the third quarter with $83 million in cash and will use that and cash from Q4 political advertising revenue to pay down at least $150 million of debt in the fourth quarter. From Scripps President and CEO Adam Symson:
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