E.W. Scripps Reports Q3 2026 Profit Driven by Record Midterm Political Advertising
E.W. Scripps (SSP) reported a significant financial recovery in the third quarter of 2026, posting net income of $20.7 million compared to a loss in the prior-year period. The turnaround was primarily fueled by record midterm political advertising revenue, which reached $284 million for the cycle—a 44% increase over the 2022 midterms. This surge helped drive total operating revenue up 3.6% to $545 million. Despite the top-line growth, the company is navigating structural shifts and debt management challenges. Scripps implemented a workforce reduction of approximately 20% (850 positions) to achieve $100 million in annual savings as part of its transformation plan. While local media revenue saw a robust 19% increase, core advertising declined by 13% due to political displacement. The company plans to use excess cash from the political cycle to repay at least $150 million in debt during the fourth quarter.
Tickers: $SSP
Topics: earnings layoffs political advertising restructuring revenue growth
Read the full article at Motley Fool
Part of the story Gray Media Reports Record Q3 2026 Revenue Driven by Political Advertising (3 articles)