{"id":66053,"date":"2024-11-04T13:59:07","date_gmt":"2024-11-04T13:59:07","guid":{"rendered":"https:\/\/efimarkets.com\/blog\/?p=66053"},"modified":"2024-11-04T14:01:01","modified_gmt":"2024-11-04T14:01:01","slug":"e-w-scripps-stock-surges-6-after-achieving-record-breaking-political-ad-revenue","status":"publish","type":"post","link":"https:\/\/bhimmarkets.com\/blog\/e-w-scripps-stock-surges-6-after-achieving-record-breaking-political-ad-revenue\/","title":{"rendered":"E.W. Scripps Stock Surges 6% After Achieving Record-Breaking Political Ad Revenue"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"66053\" class=\"elementor elementor-66053\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f72b2f e-con-boxed e-flex e-con\" data-id=\"8f72b2f\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d11acfa elementor-widget elementor-widget-image\" data-id=\"d11acfa\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.investing.com\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" width=\"735\" height=\"445\" src=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/ew.png\" class=\"attachment-large size-large wp-image-66054\" alt=\"E.W Scripps Stock Surges\" srcset=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/ew.png 735w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/ew-300x182.png 300w\" sizes=\"(max-width: 735px) 100vw, 735px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7234955 e-con-boxed e-flex e-con\" data-id=\"7234955\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d8f8fb1 elementor-widget elementor-widget-text-editor\" data-id=\"d8f8fb1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h3><span style=\"color: #000000;\">E.W. Scripps Stock Surges 6% on Record Political Ad Revenue<\/span><\/h3><p><span style=\"color: #000000;\">E.W Scripps Stock Surges 6% following the announcement of record third-quarter revenue driven by strong political advertising. Although the media company reported earnings below estimates, the impressive revenue growth helped boost investor confidence.<\/span><\/p><h3><span style=\"color: #000000;\">Earnings Miss, But Revenue Exceeds Expectations<\/span><\/h3><p><span style=\"color: #000000;\">For Q3, E.W. Scripps reported an adjusted earnings per share (EPS) of $0.37, which fell short of analyst projections of $0.52. However, revenue surged 14% year-over-year, reaching $646.3 million and surpassing the consensus estimate of $627.86 million.<\/span><\/p><h3><span style=\"color: #000000;\">Local Media Segment Shines with Political Ad Revenue<\/span><\/h3><p><span style=\"color: #000000;\">The company\u2019s Local Media segment experienced a significant revenue boost, climbing 26% to $445.6 million. This growth was primarily driven by political advertising revenue, which jumped to $125.2 million compared to just $9.1 million in the same quarter last year. E.W. Scripps now anticipates full-year political ad revenue for 2024 to exceed $340 million, well above the previous guidance of $270-$290 million.<\/span><\/p><p><span style=\"color: #000000;\">Scripps\u2019 Local Media political advertising revenue came in nearly 30% higher than our last presidential-election year, which was also a record,&#8221; said Scripps President and CEO Adam Symson. &#8220;This 2024 level highlights the strength of local broadcast programming as an ideal platform for reaching large audiences with candidate and political messages.<\/span><\/p><h3><span style=\"color: #000000;\">Political Ads Offset Core Advertising Decline<\/span><\/h3><p><span style=\"color: #000000;\">E.W Scripps Stock Surges, core advertising saw a decline, dropping 9.2% year-over-year to $129.3 million. The decrease was attributed to the displacement of core ads by political ads. Meanwhile, the Scripps Networks segment experienced a 6.4% decline in revenue, totaling $201.7 million.<\/span><\/p><h3><span style=\"color: #000000;\">Strong Cash Flow Supports Debt Reduction<\/span><\/h3><p><span style=\"color: #000000;\">Leveraging its strong cash flow, Scripps paid down $115 million of debt in Q3, reducing its leverage ratio from 6.0x at the end of Q2 to 5.1x. The company aims to pay down approximately $300 million in debt over the course of the year, further strengthening its financial position.<\/span><\/p><h5><span style=\"color: #000000;\">Trade Anytime, Anywhere with EFI\u00a0Markets<\/span><\/h5><p><span style=\"color: #000000;\">EFI Markets is a trusted<\/span>\u00a0<a href=\"https:\/\/efimarkets.com\/stocks\">stock market trading platform<\/a><span style=\"color: #000000;\">,\u00a0making trading easy with its efficient interface and a variety of tools and features.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>E.W. Scripps Stock Surges 6% on Record Political Ad Revenue E.W Scripps Stock Surges 6% following the announcement of record third-quarter revenue driven by strong political advertising. Although the media company reported earnings below estimates, the impressive revenue growth helped boost investor confidence. Earnings Miss, But Revenue Exceeds Expectations For Q3, E.W. Scripps reported an &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/bhimmarkets.com\/blog\/e-w-scripps-stock-surges-6-after-achieving-record-breaking-political-ad-revenue\/\"> <span class=\"screen-reader-text\">E.W. Scripps Stock Surges 6% After Achieving Record-Breaking Political Ad Revenue<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":66054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[12,3],"tags":[15,20,14,5,34,18,37,43,10],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>E.W. 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