| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 490.40 | 5.1% | 9.2% |
| Total Income | 490.40 | 5.1% | 9.2% |
| Expenditure | 1.6K | 234.9% | 255.6% |
| PBT | -1.2K | 27052.1% | 4711.9% |
| Net Profit | -1.2K | 64215.6% | 3101.5% |
| OPM | — | ||
| NPM | — | ||
| EPS | -12.68 | 6240.0% | 2049.2% |
Scripps Reports Q2 2026 Financial Results
07 Aug 2026 · 7 Aug, 4:57 pm
Summary
The E.W. Scripps Company reported $490 million in revenue for the second quarter of 2026, a decrease of 9.2% from the prior year. The company incurred a significant loss attributable to shareholders of $1.2 billion, or $12.68 per share, largely due to a $1.1 billion non-cash goodwill and intangible asset impairment charge for Scripps Networks. Management highlighted progress on its transformation plan and expense reductions, targeting $125-$150 million of enterprise EBITDA growth by 2028, with an expectation of implementing about $100 million in annual run-rate savings by year-end. Despite challenges in the national advertising market and audience measurement, the company noted record local media political advertising revenue and strategic growth in Scripps Sports.
Key Highlights
- 1
The E.W. Scripps Company reported $490 million in revenue for the second quarter of 2026.
- 2
Loss attributable to the shareholders of Scripps was $1.2 billion or $12.68 per share for Q2 2026, impacted by a $1.1 billion non-cash goodwill and intangible asset impairment charge.
- 3
Local Media political advertising revenue reached a second-quarter record of $28 million, with full-year 2026 political revenue expected between $225-$250 million.
- 4
Scripps Networks revenue decreased by 16% from Q2 2025 due to the sale of Court TV and a challenging national advertising market.
- 5
Scripps Sports has formed new partnerships, including a multi-year distribution agreement with the Detroit Pistons and a full-season local rights agreement with the Nashville Predators.
- 6
Second-quarter segment, shared services and corporate expenses were down 3% due to favorable programming expenses, employee cost savings, and tight expense controls.
Management Comments
Adam Symson
We’re in the midst of transforming Scripps through fundamental changes in how we operate. These changes leverage today’s most advanced technology, AI and automation to both deliver improved operating results and allow us to better serve our local consumers, audiences and advertisers that rely on us across the nation. The company’s Q2 financial results, impacted by the economic environment and audience measurement challenges, are not reflective of the progress we're making. We expect the transformation benefits to the company's health and performance to become increasingly visible in the coming quarters. In parallel with our transformation work, we continue to evaluate and execute M&A opportunities through a disciplined lens focused on accretive transactions that improve our financial footing and strategic flexibility. Our recently closed transactions bring greater depth and operating efficiency to our local stations portfolio to create the economic durability to sustain our public service commitment: high-quality local news, emergency alerts, weather coverage and local sports that keep people informed, engaged and connected to their communities. During the second quarter, we demonstrated our commitment to two important revenue growth strategies. First, with Scripps Sports, our new Detroit Pistons and Nashville Predators agreements will drive incremental core advertising revenue growth on top of the organic growth we expect from our existing robust portfolio of local sports. Second, the three new distribution agreements we closed acknowledge the enduring value of local television stations as essential infrastructure for American communities. Scripps is differentiating ourselves by attacking industry disruption with bold strategic bets. We are making difficult decisions, including eliminating 268 jobs across the company earlier this week, in service to our ability to survive and thrive and fulfill our commitments to our country and to our shareholders. Macroeconomic conditions have come and gone, and we have survived them. What distinguishes our approach today is that we are being proactive in making permanent changes that allow us to succeed within the realities of today’s media landscape.
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