Media, broadcasting, and digital services company E.W. Scripps (NASDAQ:SSP)
will be reporting results this Thursday afternoon. Here’s what to look for.
E.W. Scripps beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $524.4 million, down 6.6% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates..
This quarter, analysts are expecting E.W. Scripps’s revenue to decline 5.1% year on year to $544.4 million, a further deceleration from the 1.6% 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 twice over the last two years.
Looking at E.W. Scripps’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 5.5%, and Paramount reported flat revenue, in line with consensus estimates. Paramount traded up 3.5% following the results.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. E.W. Scripps is down 12.3% during the same time and is heading into earnings with an average analyst price target of $7.33 (compared to the current share price of $3).
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