E.W. Scripps Posts Loss In Q2; Revenue Down 2%

(RTTNews) - The E.W. Scripps Company (SSP) posted a second quarter net loss to shareholders of $682.4 million or $8.10 per share compared to profit of $29.2 million or $0.32 per share, last year. The company noted that a non-cash goodwill impairment charge and restructuring costs for the quarter accounted for $8.01 of the per share loss. On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.12, for the quarter. Analysts' estimates typically exclude special items.

Total second-quarter company revenue was $583 million, a decrease of 2% from the prior-year quarter. Analysts on average had estimated $575.83 million in revenue.

On June 30, cash and cash equivalents totaled $39.3 million, and total debt was $3 billion.

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