The E. W. Scripps Company on Thursday said it was delaying its anticipated fourth quarter (Q4) and full year financial earnings disclosure to mid-March.
The earnings release was scheduled to be made public Thursday morning before the start of the trading day on Wall Street, but a press release issued by the company said the release would be pushed to March 12 because the broadcaster “continues to actively negotiate refinancing transactions relating to its term loan and revolving credit facility with existing lenders and potential new debt capital providers.”
Scripps intended to hold a conference call with investors on Friday, but the company affirmed the conference will also be delayed to March 12 at 9 a.m. Eastern Time. Senior executives and managers are expected to participate in the call.
In December, Scripps said it paid down around $115 million in debt during the third financial quarter (Q3) of 2024. The payments were made possible by record political revenue of $340 million during the election cycle, which boosted Q3 overall revenue to $646 million.
Scripps issued guidance that projected a pay down of $300 million in debt by the end of 2024.
Scripps owns more than 60 local broadcast TV stations across the country and other properties including multicast networks Ion, Laff, Grit, Court TV and Bounce, and the streaming network Scripps News. It also operates a sports division called Scripps Sports — which has national distribution rights to Women’s National Basketball Association (WNBA) and National Women’s Soccer League (NWSL) games, among others — and the TV hardware maker Nuvyyo, which manufactures and sells the Tablo line of digital video recorders.
