The E. W. Scripps Company (NYSE:SSP) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
The E. W. Scripps Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 72.73% to $0.03 in the quarter versus EPS of $0.11 in the year-earlier quarter.
Revenue: Decreased 4.21% to $207.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The E. W. Scripps Company reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.07. It missed the average revenue estimate of $211.8 million.
Quoting Management: “Although masked by the near absence of political advertising in 2013, the off year for elections, our core television revenues showed good growth on the strength of expanding local audiences,” said Rich Boehne, Scripps chairman, president and CEO. “Local, national and digital advertising all grew, and retransmission fees moved up 34 percent.”
Key Stats (on next page)…