It is no secret that the final three months of 2022 were highly impacted by record-level political advertising dollars.
That’s why a closer look at The E.W. Scripps Co.‘s fiscal results for the final quarter of 2023 is worthy of consideration. “Our fourth-quarter results reflect improvement in the advertising marketplace, both at the core local level and nationally,” company President/CEO Adam Symson shared ahead of Scripps’ earnings call for analysts and investors.
In fact, the company exceeded guidance on revenue, despite recording a net loss in the quarter. A non-cash goodwill impairment charge associated with Scripps Networks, along with restructuring costs related to a company-wide reorganization, are the key culprits for the results.
