Scripps Networks Interactive Inc. Earnings Cheat Sheet: Profit Drops

S&P 500 (NYSE:SPY) component Scripps Networks Interactive Inc. (NYSE:SNI) reported its results for the third quarter. Scripps Networks Interactive is a media company operating as a lifestyle content and interactive services provider. The company engages in national television networks, such as Food Network, and Internet-based media outlets like Shopzilla.

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Scripps Networks Interactive Earnings Cheat Sheet for the Third Quarter

Results: Net income for the broadcasting company fell to $98.6 million (61 cents per share) vs. $101.7 million (61 cents per share) a year earlier. This is a decline of 3% from the year earlier quarter.

Revenue: Rose 8% to $503.7 million from the year earlier quarter.

Actual vs. Wall St. Expectations: SNI reported adjusted net income of 66 cents per share. By that measure, the company beat the mean estimate of 65 cents per share. Analysts were expecting revenue of $512.1 million.

Quoting Management: “The company’s positive third-quarter results reflect the resiliency and popularity of our lifestyle television networks,” said Kenneth W. Lowe, chairman, president and chief executive officer. “Food Network and HGTV each have a loyal and growing fan base that our advertising and distribution partners value. At Travel Channel, we’re focused on defining the content category in new and creative ways, while our premium-tier networks – Cooking Channel and DIY Network – are benefitting from strong competitive positions as favored destinations for a highly desirable and defined group of media consumers. Our strategy to stay focused on these attractive content categories has resulted in consistent growth for the company and the creation of significant value for our shareholders.”

Key Stats:

The company has now seen net income fall in each of the last two quarters. In the second quarter, net income fell 27.1% from the year earlier quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 8 cents in the second quarter and by 3 cents in the first quarter.

Looking Forward: Expectations for the fourth quarter have not changed from 79 cents. The average estimate for the fiscal year is $2.80 per share, a rise from $2.73 ninety days ago.

Competitors to Watch: Discovery Communications Inc. (NASDAQ:DISCA), CBS Corporation (NYSE:CBS), Crown Media Holdings, Inc (NASDAQ:CRWN), Liberty Global Inc. (NASDAQ:LBTYA), Liberty Media Corp (NASDAQ:LINTA), The Walt Disney Company (NYSE:DIS), NTN Buzztime, Inc. (AMEX:NTN), Outdoor Channel Hldgs., Inc. (NASDAQ:OUTD), and Belo Corp. (NYSE:BLC).

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(Source: Xignite Financials)