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Monday, May 11, 2020
E.W. Scripps Company (SSP)
Encouraging Trends In The Second Quarter
The E.W. Scripps Co. (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. After approval of its acquisition of two Granite Broadcasting stations later this year, Scripps will own 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses including digital video news service Newsy. Scripps also produces television programming, runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the longtime steward of one of the nation�s largest, most successful and longest-running educational programs, Scripps National Spelling Bee. Founded in 1879, Scripps is focused on the stories of tomorrow.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q1 not a surprise. Q1 was slightly lower than our expectations, but not surprisingly so. In our view, investors largely expected Q1 to have had some impact from the mitigation efforts of CoVid 19. Q2 will reflect the worse quarter of the year. But, there are encouraging revenue trends that support a constructive view of the second half 2020.
National business appears to be performing better than expected. We believe that Stitcher, after an initial disruption, is back on track for a revenue rebound in Q2. In addition, Newsy appears to be benefiting from the demand for…
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This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst
certification and important disclosures included in the full report.
NOTE: investment decisions should not be based upon the content of
this research summary. Proper due diligence is required before
making any investment decision.
