Monday, March 5, 2019

E.W. Scripps (SSP)

Cutting through the noise.

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

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

• Q4 results
  largely in line with raised expectations. The company overachieved revenues with the largest
  upside variance in its lower margin National Media division. The influx of
  Political advertising was already baked in. As such, Q4 adjusted EBITDA was
  slightly lower than expected. 
• First quarter
  guidance is slightly better than our expectations. Reflecting the company’s acquisition of Triton, we are
  raising our Q1 2019 revenue and cash flow estimate to $286.5 million and $27.2
  million from $276.1 million and $25.5 million, respectively. The biggest
  variance to our es…GO TO FULL REPORT

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*Analyst
certification and important disclosures included in 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.