Media, broadcasting, and digital services company E.W. Scripps (NASDAQ:SSP) will be reporting results this Thursday after market close. Here’s what you need to know.
E.W. Scripps missed analysts’ revenue expectations last quarter, reporting revenues of $490.4 million, down 9.2% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ EBITDA estimates.
Is E.W. Scripps a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting E.W. Scripps’s revenue to grow 4.2% year on year, a reversal from the 18.6% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. E.W. Scripps has missed Wall Street’s revenue estimates multiple 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. FOX delivered year-on-year revenue growth of 22.3%, beating analysts’ expectations by 6.5%, and Hilton Grand Vacations reported revenues up 50.8%, topping estimates by 39.5%. FOX traded up 6.1% following the results while Hilton Grand Vacations was also up 8.2%.
Read our full analysis of FOX’s results here and Hilton Grand Vacations’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 4.7% on average over the last month. E.W. Scripps is up 1.1% during the same time and is heading into earnings with an average analyst price target of $4.93 (compared to the current share price of $2.75).
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