Media, broadcasting, and digital services company E.W. Scripps (NASDAQ: SSP) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
E.W. Scripps beat analysts’ revenue expectations last quarter, reporting revenues of $560.3 million, down 23.1% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ EPS estimates.
Is E.W. Scripps a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting E.W. Scripps’s revenue to decline 1.5% year on year, improving from the 6.6% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. E.W. Scripps has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at E.W. Scripps’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Paramount delivered year-on-year revenue growth of 2.2%, beating analysts’ expectations by 1%, and Rush Street Interactive reported revenues up 41.1%, topping estimates by 11.3%. Paramount traded down 5.6% following the results while Rush Street Interactive was up 16.6%.
Read our full analysis of Paramount’s results here and Rush Street Interactive’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 6% on average over the last month. E.W. Scripps is up 29.1% during the same time and is heading into earnings with an average analyst price target of $6.93 (compared to the current share price of $5.00).
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