The E.W. Scripps Company has become the third broadcast TV company to select the second Thursday in August as the day it will release its Q2 2024 earnings results.
But, the company’s earnings call won’t be held until the following morning.
Scripps, which trades on Nasdaq, will report second-quarter 2024 operating results after the markets close on Thursday, August 8.
With Nexstar Media Group hosting an earnings call at 10am Eastern on August 8 and Gray Television holding its Q2 2024 earnings call at 11am Eastern that day, a post-Closing Bell call won’t be on the calendar.
Rather, Scripps’ senior management team will participate in a call scheduled for 9:30am Eastern on August 9, allowing analysts and investors to fully digest the report.
With “SSP” trading at $3.15 per share as of 11:11am Eastern on Friday, things are trending upward since the company’s shares bottomed out at $2.02 on June 17. That put an end to severe share erosion experienced by Scripps since the start of 2024, when the company’s stock was hovering around $8 in value and peaked at $9.12 in late January. “SSP” is down 60.5% year-to-date.
At present, just two analysts offered earnings per share estimates to Yahoo! Finance. This puts the anticipated EPS range for Q2 2024 between -$0.06 and $0.03.
Five analysts offered estimates on revenue for the second quarter, and this put the consensus estimate at $585.81 million.
For investors, a focus on the company’s Q2 revenue guidance for its Scripps Networks arm could be seen. During Scripps’ Q1 2024 earnings call, on May 10, CFO Jason Combs shared that for Q2 2024, Networks division revenue is expected to be down in the mid single-digit range from one year earlier. Expenses are anticipated to be up in the low single-digit range.
