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The E.W. Scripps Company (SSP) investor relations material
The E.W. Scripps Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Fourth consecutive quarter of meeting or exceeding financial expectations, driven by network streaming, Scripps Sports, and disciplined expense management.
Q4 2025 revenue was $560 million, with a net loss attributable to shareholders of $44.9 million or $0.51 per share, compared to net income of $80.3 million or $0.92 per share in Q4 2024.
Full-year 2025 revenue was $2.15 billion, down 14% year-over-year, with a net loss of $164 million or $1.87 per share.
Announced a transformation plan targeting $125M–$150M in enterprise EBITDA growth by 2028, leveraging technology, AI, and automation, with initial benefits expected in the second half of 2026.
CEO contract extended through 2029 to ensure leadership continuity during transformation.
Financial highlights
Q4 2025 revenue declined 23% year-over-year to $560 million; segment expenses fell to $477 million from $502 million.
Local Media division Q4 revenue was $360M, down 30% year-over-year due to absence of political advertising; core advertising up 12%.
Scripps Networks Q4 revenue was $199M, down less than 8% year-over-year; segment profit rose 4.6% to $63.5M with a 32% margin.
Q4 net loss of $0.51 per share, including $19.5M non-cash charge, $2.4M restructuring costs, and $2.4M debt extinguishment loss.
Cash and cash equivalents at year-end were $27.9M; total debt was $2.6B; net leverage ratio 4.8x.
Outlook and guidance
Transformation plan expected to deliver $20M–$30M in EBITDA impact in 2026, with annualized run rate of $60M–$75M entering 2027.
Local Media revenue expected to grow low to mid-single digits in Q1 2026, with core advertising up mid-single digits.
Scripps Networks Q1 revenue expected to be down high single digits; expenses down low single digits.
Anticipate record midterm election spending in H2 2026, with strong political ad revenue expected.
Full-year 2026 guidance: cash interest $180M–$190M, cash taxes $15M–$20M, capex $60M–$70M, D&A $140M–$150M.
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