Financial News
What To Expect From E.W. Scripps’s (SSP) Q3 Earnings
Media, broadcasting, and digital services company E.W. Scripps (NASDAQ:SSP) will be reporting earnings tomorrow before market open. Here’s what to expect.
E.W. Scripps missed analysts’ revenue expectations by 2% last quarter, reporting revenues of $573.6 million, down 1.6% year on year. It was a softer quarter for the company, with a miss of analysts’ earnings estimates.
Is E.W. Scripps a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting E.W. Scripps’s revenue to grow 11% year on year to $629.1 million, a reversal from the 7.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.97 per share.
Analysts covering the company have generally 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 five times over the last two years.
Looking at E.W. Scripps’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 36.6%, beating analysts’ expectations by 11.9%, and fuboTV reported revenues up 20.3%, topping estimates by 2.5%. Rush Street Interactive’s stock price was unchanged following the results.
Read our full analysis of Rush Street Interactive’s results here and fuboTV’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. E.W. Scripps is up 46.9% during the same time and is heading into earnings with an average analyst price target of $7.95 (compared to the current share price of $3.60).
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