E.W. Scripps Earnings: SSP Stock Slips 2% Despite Q4 Beat

E.W. Scripps (NASDAQ:SSP) earnings for the broadcasting company’s fourth quarter of 2019 have SSP stock sliding lower on Friday. That’s despite its earnings per share (EPS) of 13 cents matching Wall Street’s estimate. There’s also revenue of $444.4 million beating out analysts’ estimates of $422.86 million.

E.W. Scripps Earnings: SSP Stock Slips 2% Despite Q4 Beat

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Now, let’s take a closer look at the most recent E.W. Scripps earnings report.

  • EPS for the quarter is down 51.85% from 27 cents during the same time last year.
  • Revenue is sitting 20.73% higher than the $368.11 million in the fourth quarter of 2018.
  • Operating income of $42.73 million is a 36.97% decrease year-over-year from $67.79 million.
  • The E.W. Scripps earnings report also has it bringing in a net income of $10.57 million.
  • This is a 51.91% decrease compared to its net income of $21.98 million during the same period of the year prior.

Adam Symson, president and CEO of E.W. Scripps, said this about the SSP stock earnings report.

“Last quarter, our national businesses blew past the $100 million milestone in quarterly revenue through strong contributions from Katz, Newsy, Stitcher and Triton. Each of these four businesses is a leader in a fast-growing marketplace and is contributing to expanding division margins and creating new shareholder value by capitalizing on consumers’ changing media behaviors.”

The E.W. Scripps earnings report includes its outlook for the first quarter of 2020. This has the company expecting National Media revenue to range from $105 to $110 million. It also expects Local Media revenue growth in the low teens.

SSP stock was down 1.64% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/e-w-scripps-earnings-drop-ssp-stock/.

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