Stock Story -
Media, broadcasting, and digital services company E.W. Scripps (NASDAQ:SSP) will be reporting earnings tomorrow after the bell. Here's what to expect.
E.W. Scripps beat analysts' revenue expectations by 2.3% last quarter, reporting revenues of $615.8 million, down 9.6% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is E.W. Scripps a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting E.W. Scripps's revenue to grow 7.7% year on year to $568.7 million, a reversal from the 6.7% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.45 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. E.W. Scripps has missed Wall Street's revenue estimates four times over the last two years.
Looking at E.W. Scripps's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Paramount delivered year-on-year revenue growth of 5.8%, meeting analysts' expectations, and Gray Television reported revenues up 2.7%, in line with consensus estimates. Paramount traded down 7.2% following the results.
Read the full analysis of Paramount's and Gray Television's results on StockStory.
Inflation fears have put pressure on growth stocks, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share prices down 2.1% on average over the last month. E.W. Scripps is up 17% during the same time and is heading into earnings with an average analyst price target of $10.1 (compared to the current share price of $4.2).
