The E.W. Scripps Co. Earnings Cheat Sheet: Swinging to a Loss and Missing Estimates

The E.W. Scripps Company (NASDAQ:SSP) swung to a loss in the second quarter, missing analysts’ forecast. The E. W. Scripps Company is a media concern company with interests in national television networks, newspaper publishing, broadcast television, interactive media and licensing and syndication.

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The E.W. Scripps Company Earnings Cheat Sheet for the Second Quarter

Results: Swung to a loss of $2.2 million (4 cents per share) in the quarter. The E.W. Scripps Company had a net income of $99.5 million or $1.56 per share in the year earlier quarter.

Operating Revenue: Fell 3% to $183 million from the year earlier quarter.

Actual vs. Wall St. Expectations: SSP fell short of the mean analyst estimate of 3 cents per share. Analysts were expecting revenue of $184.1 million.

Quoting Management: “Our television strategy, anchored by continuing investment in high-quality local news programming, is resulting in strong audience gains and revenue growth,” said Rich Boehne, Scripps president and CEO. “Local and national time sales were up eight percent versus last year, excluding cyclical political advertising, and up 26 percent from the same period in 2009.”

Key Stats:

The company has now fallen short of estimates in the last two quarters. In the first quarter, it missed expectations by 8 cents with a loss of 13 cents versus a mean estimate of a loss of 5 cents per share.

Revenue has fallen in the past two quarters. In the first quarter, revenue declined 9.4% to $180.4 million from the year earlier quarter.

Competitors to Watch: Discovery Communications (NASDAQ:DISCA), Gannett Co., Inc. (NYSE:GCI), News Corporation (NASDAQ:NWSA), Lee Enterprises, Inc. (NYSE:LEE), Journal Communications, Inc. (NYSE:JRN), The New York Times Company (NYSE:NYT), The McClatchy Company (NYSE:MNI), Media General, Inc. (NYSE:MEG), The Walt Disney Company (NYSE:DIS), AOL (NYSE:AOL), Interactive Corp (NASDAQ:IACI), Pearson (NYSE:PSO), News Corp (NASDAQ:NWSA), McGraw-Hill (NYSE:MHP) and A. H. Belo Corporation (NYSE:AHC).

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(Source: Xignite Financials)