The E.W. Scripps Company

SSP

US8110544025

Broadcasting

Market Closed - Nasdaq Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
3.7 ^USD	+0.27%		+3.06%	-53.69%

Apr. 23	Walt Disney, Warner Bros. Exclusive Discussion Period for New NBA Contract Ends Without Deal	MT
Apr. 03	The E.W. Scripps Company(NasdaqGS:SSP) dropped from S&P 600 Communication Services	CI

E W Scripps : Scripps Investment Highlights – November 2022

November 10, 2022 at 11:29 am EST

Scripps Networks division revenue was higher than expected in the third quarter at 4% over Q3 2021. Connected TV (CTV) revenue grew 57% year over year as the division

launched more channels on major streaming services.

The division expects to reach an annual run rate of more than $100 million in CTV revenue next year.

Against a strong Q3 2021 core advertising comparison, Local Media delivered revenue growth of 14% by capturing $63 million in political advertising revenue and a 7% increase in retransmission revenue.

About 75% of Scripps' subscriber households will renew in 2023 and should lead to revenue growth and margin expansion.

Due to cost-managementefforts, expenses for both divisions came in as expected despite rising inflation.

SCRIPPS HAS BALANCED SHORT-TERMEXCELLENCE WITH LONGER-TERMGROWTH, BENEFITTING SHAREHOLDERS

The Scripps Networks now engage with 70 million viewers a month and rising. Our networks reach Americans

through the same pay TV and virtual MVPD platforms as other networks, but we also have the benefit of the expanding platforms of over-the-airand connected TV FAST networks. This has led us to growing distribution and reach, in growing marketplaces, growing audience shares, growing CPMs, and growing revenue."

- Scripps President and CEO Adam Symson, Nov. 8, 2022

INVESTMENT HIGHLIGHTS

SCRIPPS INVESTMENT HIGHLIGHTS

AFTER SEVERAL YEARS OF TRANSFORMATION AND VALUE CREATION, SCRIPPS IS A FULL-SCALE TV ENTERPRISE AND POWERFUL ECONOMIC ENGINE

Capturing the greatest value in Local Media from political advertising and retransmission revenue Capitalizing on the resilient national advertising marketplace and our owned-and-operated distribution to grow revenue and expand margins in the Scripps Networks division

Helping set the course for the future of broadcast television as one of the largest holders of spectrum in the U.S.

Strengthening our balance sheet through continued de-leveraging

SCRIPPS IS CAPITALIZING ON THE GROWING CTV MARKETPLACE AS IT EXTENDS ITS LEADERSHIP IN FREE, AD-SUPPORTED TV

YouTubeTV	LIVE	LIVE	N/A	LIVE	LIVE	LIVE	LIVE
Samsung TV Plus	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
Vizio WatchFree+	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
Roku Channel	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
Xumo	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
Tubi	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
FuboTV	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
TCL	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
FreeVee	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE	LIVE
Amazon News	LIVE	LIVE	N/A	N/A	N/A	N/A	N/A

FALL 2022

Q3 EARNINGS CALL HIGHLIGHTS

Connected TV refers to any television delivered through the Internet.

- Apps on smart TVs such as Netflix, Pluto and YouTube TV

- Apps or services that come with your TV, such as Samsung TV Plus and Vizio Watch Free

- Hardware devices such as Roku; and gaming consoles such as Xbox that deliver programming

The E.W. Scripps Company

(NASDAQ: SSP) is a diversified media company focused

on creating a better-informed world. As one of the nation's largest local TV broadcasters, Scripps

serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through the national news outlets Court TV and Newsy and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is one of the nation's largest holders of broadcast spectrum. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, "Give light and the people will find their own way."

CAROLYN MICHELI SENIOR VICE PRESIDENT, CORPORATE COMMUNICATIONS & INVESTOR RELATIONS

CAROLYN.MICHELI@SCRIPPS.COM 513.977.3732

INVESTMENT HIGHLIGHTS

FALL 2022

SCRIPPS IS NOW ONE OF THE NATION'S LARGEST LOCAL AND NATIONAL TV NEWS AND ENTERTAINMENT COMPANIES

LOCAL MEDIA DIVISION

SCRIPPS NETWORKS DIVISION

Scripps' Local Broadcast Group is comprised of 61 stations from coast to coast, including 42 Big Four network affiliates and 10 duopolies. Revenue in 2021 was $1.3 billion.

SCRIPPS DELIVERS RECORD MIDTERM

POLITICAL REVENUE

$ in millions

FINANCIAL RESULTS BY DIVISION

The Scripps Networks group is comprised of nine news and entertainment networks that each reach nearly all U.S. TV households over the air and will be distributed on all the major connected TV platforms by later this year. Adjusted-combined revenue in 2021 was $959 million.

BECAUSE WE ARE LEADERS IN OVER-THE- AIR NETWORKS, SCRIPPS ALSO PLANS TO ACCELERATE GROWTH OF OTA VIEWING

Share of national network viewing within the OTA universe: Primetime, total viewers 2022

Source: Nielsen

Local Media		2022				2021			Scripps Networks*		2022			2021
(in millions)	Q1	Q2	Q3		Q1	Q2	Q3	Q4		(in millions)	Q1	Q2	Q3	Q1	Q2	Q3	Q4
Core	$157.3	$157.7	$146.9		$152.1	$161.0	$167.3	$183.5		Segment operating revenues
		$239.1	$238.9	$235.4	$220.4	$238.7	$226.5	$272.9
Political	5.8	24.0	63.2		1.3	3.2	7.1	11.1		Segment costs & expenses	154.0	165.6	163.4	125.2	131.4	143.2	166.5
Retransmission and	159.6	171.1	164.7		155.7	156.3	153.5	151.8		Segment profit	85.1	73.3	72.0	95.2	107.3	83.3	106.4
carriage fees
Other	4.0	3.0	3.6		3.5	4.3	3.4	4.3
	*This table is based on adjusted combined historical results that do not necessarily reflect what the
Segment operating revenue	326.7	355.8	378.4		312.6	324.8	331.3	350.7		historical results would have been and are not necessarily indicative of future results. We provided
		non-GAAP supplemental information for certain revenues and expenses for prior-year periods on
Segment costs & expenses	272.3	275.1	278.8		256.7	260.2	265.9	268.5		an adjusted combined basis in order to illustrate what Scripps Networks would have been had the
		ION acquisition been effective at the beginning of 2021. Refer to the Supplemental Information
Segment profit	54.4	80.7	99.6		55.9	64.6	65.4	82.2		section of our most recent press release tables for details of the assumptions contained in them.

CAROLYN MICHELI SENIOR VICE PRESIDENT, CORPORATE COMMUNICATIONS & INVESTOR RELATIONS

CAROLYN.MICHELI@SCRIPPS.COM 513.977.3732

Attachments

Original Link
Original Document
Permalink

Disclaimer

The E.W. Scripps Company published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 16:28:02 UTC.

Latest news about The E.W. Scripps Company

Walt Disney, Warner Bros. Exclusive Discussion Period for New NBA Contract Ends Without Deal	Apr. 23	MT
The E.W. Scripps Company(NasdaqGS:SSP) dropped from S&P 600 Communication Services	Apr. 02	CI
The E.W. Scripps Company(NasdaqGS:SSP) dropped from S&P 600	Apr. 02	CI
The E.W. Scripps Company(NasdaqGS:SSP) dropped from S&P Composite 1500	Apr. 02	CI
The E.W. Scripps Company(NasdaqGS:SSP) dropped from S&P 1000	Apr. 02	CI
Solventum, GE Vernova to Join S&P 500 Index	Mar. 28	MT
The E.W. Scripps Company Announces Board of Directors Changes	Mar. 25	CI
The E.W. Scripps Company Appoints Kate O'brian to the New Role of President of News	Feb. 28	CI
Transcript : The E.W. Scripps Company, Q4 2023 Earnings Call, Feb 23, 2024	Feb. 23
The E.W. Scripps Company Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 23	CI
The E.W. Scripps Company Reports Impairment Results for the Quarter Ended December 31, 2023	Feb. 23	CI
The E.W. Scripps Company Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	Feb. 23	CI
Wells Fargo Adjusts Price Target on E.W. Scripps to $7 From $9, Maintains Equalweight Rating	Feb. 09	MT
The E.W. Scripps Company Appoints Tony Song as Head of Network Sales and Advanced TV, Effective February 7, 2024	Feb. 05	CI
E.W. Scripps Chief Legal Officer Bill Appleton to Retire at Year-end	Jan. 19	MT
The E.W. Scripps Company Announces Executive Changes	Jan. 19	CI
Transcript : The E.W. Scripps Company Presents at Bank of America Securities 2023 Leveraged Finance Conference, Nov-28-2023 04:10 PM	Nov. 28
Transcript : The E.W. Scripps Company, Q3 2023 Earnings Call, Nov 03, 2023	Nov. 03
The E.W. Scripps Company Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	Nov. 03	CI
E.W. Scripps Closes Cable, Satellite Carriage Deals for 75% of Paid TV Households	23-10-11	MT
Transcript : The E.W. Scripps Company Presents at 31st Annual Deutsche Bank Leveraged Finance Conference, Oct-03-2023 05:15 PM	23-10-03
The E.W. Scripps Company Launches New Version of Tablo	23-08-28	CI
Transcript : The E.W. Scripps Company, Q2 2023 Earnings Call, Aug 04, 2023	23-08-04
Earnings Flash (SSP) THE E.W. SCRIPPS COMPANY Posts Q2 Revenue $582.8M, vs. Street Est of $575.8M	23-08-04	MT
The E.W. Scripps Company Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-08-04	CI

Chart The E.W. Scripps Company

Duration

Period

More charts

Company Profile

The E.W. Scripps Company is a diverse media enterprise that serves audiences and businesses through a portfolio of more than 60 local television stations in more than 40 markets and national news and entertainment networks. Its Local Media segment includes more than 60 local television stations and their related digital operations. Its television station group includes approximately 25% of the nationâs television households and includes 18 ABC affiliates, 11 NBC affiliates, nine CBS affiliates and four FOX affiliates. It also has seven CW affiliates-four on full power stations and three on multicast; seven independent stations and 10 additional low power stations. Its Scripps Networks segment includes national news outlets Scripps News and Court TV, as well as entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery and Laff. The networks reach nearly every United States television home through free over-the-air broadcast, cable/satellite, connected TV and digital distribution.

Sector

Broadcasting

Calendar

2024-05-06 - Annual General Meeting

Related indices

Russell 2000

More about the company

Income Statement Evolution

More financial data

Ratings for The E.W. Scripps Company

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

3.69 USD

Average target price

10.12 USD

Spread / Average Target

+174.39%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Television Broadcasting

	1st Jan change	Capi.
THE E.W. SCRIPPS COMPANY	-53.69%	315M
FOX CORPORATION	+5.19%	14.47B
NEXSTAR MEDIA GROUP, INC.	+1.38%	5.38B
RTL GROUP S.A.	-16.48%	4.8B
NIPPON TELEVISION HOLDINGS, INC.	+45.47%	3.61B
SUN TV NETWORK LIMITED	-6.70%	3B
TEGNA INC.	-11.50%	2.4B
M6 MÉTROPOLE TÉLÉVISION	+12.06%	1.93B
ZEE ENTERTAINMENT ENTERPRISES LIMITED	-46.89%	1.65B
NINE ENTERTAINMENT CO. HOLDINGS LIMITED	-26.49%	1.59B

Television Broadcasting

The E.W. Scripps Company

Equities

SSP

US8110544025

Broadcasting

E W Scripps : Scripps Investment Highlights – November 2022

EPS Revisions