Quarterly ResultAug 7, 2026, 03:03 PM
E.W. Scripps Q2 Net Loss $1.168B Due to Impairment
AI Summary
E.W. Scripps reported a substantial net loss of $1.168 billion for the second quarter of 2026, or $12.68 per diluted share, primarily driven by a $1.136 billion impairment charge on goodwill and other intangible assets. Total operating revenues declined to $490.4 million. The company also incurred significantly higher restructuring costs of $35.8 million and completed several divestments and an acquisition, including a stations swap with Gray Media, Inc. and the sale of WFTX and WRTV.
Key Highlights
- Total operating revenues decreased to $490.4 million in Q2 2026 from $540.1 million in Q2 2025.
- Net loss attributable to shareholders was $1.168 billion in Q2 2026, compared to $51.7 million in Q2 2025.
- Diluted net loss per share was $12.68 in Q2 2026, up from $0.59 in Q2 2025.
- Company recorded a goodwill and other intangible assets impairment of $1.136 billion in Q2 2026.
- Restructuring costs significantly increased to $35.8 million in Q2 2026 from $0.6 million in Q2 2025.
- Completed a stations swap with Gray Media, Inc., acquiring 5 stations and divesting 2.
- Recognized a pre-tax gain of $9.3 million from the Gray stations swap disposition.
- Sold WFTX and WRTV stations for $40.0 million and $83.0 million, respectively, recognizing significant gains.
Price Impact
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