E.W. Scripps reports Q1 EPS (22c) vs. (15c) last year

Reports Q1 revenue $524.4M vs. $561.5M last year. President and CEO Adam Symson: “We began the year strong, outperforming financial expectations despite an uncertain macroeconomic environment. In the Scripps Networks division, effective sales execution combined with disciplined expense management produced our highest margins since Q4 2022. With the return of the women’s sports seasons, we are optimistic about the division’s growth outlook in the second and third quarters. Over the past year, we have made significant progress on debt paydown and reducing leverage. Debt paydown remains our highest capital allocation priority. As we move through the first half of this year, we are navigating the headwinds of business uncertainty while maximizing revenue growth in connected TV and sports, delivering on Scripps Networks’ margin expansion and positioning the company to benefit from the new regulatory environment.”