E.W. Scripps Company Q4 Profit From Cont. Ops. Declines; Revenue Up 5.3%

(RTTNews) - The E.W. Scripps Company (SSP) reported fourth quarter income from continuing operations, net of tax, of $52.8 million compared to $114.3 million, a year ago. Income per share from continuing operations declined to $0.43 from $1.35. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.55, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter operating revenues were $622.29 million compared to $591.11 million, a year ago, reflecting the impact of the ION acquisition. Analysts on average had estimated $625.52 million in revenue.

The company posted an adjusted combined revenue growth of 14% for its Scripps Networks division and 8% for its Local Media division core advertising, for the fourth quarter of 2021.

Looking ahead, the company expects about $270 million of political advertising revenue in 2022.