SSP - Earnings call transcript Q2 2024 | The E.W. Scripps Company

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, everyone, and thank you for standing by for the Scripps Q2 Earnings Call. [Operator Instructions] As a reminder, today's call is being recorded.

I will now turn the call over to your host, Carolyn Micheli. Please go ahead.

Carolyn Micheli

Thanks, Kevin. everyone. morning, Good us joining discussion the of Thanks for E.W. for a results Scripps and financial strategies. business Company's

visit can to call. of link more the this You for replay scripps.com information and a

our update and actual do SEC may forward-looking make that A them webcast may Factors filings. any not results we call outlined to today. management's outlook, on We differ differ include are reminder forward-looking current statements statements conference that based to cause materially. intend and our in

differ be discussion the metrics to valuation of will their financial call with that are earnings companies' supplements in to company. and non-GAAP our formulations. are statements. Included are and from this as measures release the or in financial in are non-GAAP accordance assist GAAP on meant and Included These other a formulated of the analysis GAAP replace not public uses financial our to reconciliations GAAP certain not provided the and management in of financial reported measures measures may measures

hear CEO, Officer, will is then Combs, Scripps' as the Chief results financial on morning first Chief Symson. President as from also Jason color share will from and hear Scripps well ad who we'll the Lisa Financial marketplaces; Knutson, Adam Operating Officer, this in We room.

Here's Jason.

Jason Combs

and XX% we're for again, after the year, the and Once of probably quarter guidance same us. Good over I'd year, with of news advertising record the period like our thank revenue. a joining everyone, you for half for morning the morning, best to up start XXXX. first the this raising political political whole

broadcast share continuing year, at advertising a of to we is capture guidance will level. record year lion's also Again full dollars. political the this television see Our

full in commitment. the exceeding upfront performance debt peer plan. upfront political year moment. are cover expectations QX guidance quarter in our and Local and will our But our will Networks' highlights division and results results I let's and Media guidance. reduction talk more national our the about and a first, advertising Scripps second addressing from then of Adam detail and companies some Also our the by end

For Media in guidance up brought amount year with Local as the XXXX, was in spending political revenue, quarter the political division and year. Senate Ohio. million, TV from of this $XX about X% period, from distribution line a we nearly pay advertising minimal renewals over U.S. in we as ago revenue Local quarter second which second strength revenue. The QX of early of record contract was gained flat XXXX was had Montana revenue

count virtual were digits overall quarter, mid-single TV and pay rose expectations. the subscribers from ago down a Our subscriber TV line with pay our double modeling in by digits, and low year

was due away year comp to year's Core Second period the transition quarter about revenue impacted move and X% from to from the was local firm. prior political down rep last strong revenue, NBA a as by advertising period. some our displacement we advertising core national a tough Finals

even quarter, Vegas from profit from Media the was factoring only sports of and Local in Local Media with the the Coyotes with Arizona our expenses guidance, our segment new prior $XX NHL's in a up line XXXX. year Knights X% X% former agreements rights increase million, franchise. were right Golden QX

to quarter, Media XX%. be third up revenue division expect Local the For about we

that of be is to is revenue. We in down displacement influx of digits higher partially offset advertising due to Olympics mid-single expected than advertising to political the by our revenue Tokyo expect revenue. coming Summer This local core Olympics ad XX% revenue core be

single-digit range. percent expenses in We be expect QX Local up Media low to the

record to division now political half quarter $XXX to raise at record-setting million revenue. be guidance million. $XXX That the our our first a Local and already end. We had Turning second a political for to is revenue We Media the second lowest even between advertising come and level and expect year. would full in

Harris Kamala race resulting with Ohio, high with and spent of presidential U.S. their spending, us. ballots. at new In entry Senate we dollars in the reproductive states issues also Harris Montana into Trump and with fundraising the rights Now continue Donald the is have for level both least X and on and of races heavy

X.X% division's to Now year quarter. the ago Networks I'd was and quarter, like million, Scripps from second guidance Networks quarter third results ]. $XXX discuss Scripps second In quarter down revenue [ the

During to soft last upfront feel advertising of continued QX, year's the we season. effects

about prior scatter was we However, and both flat the were revenue for response to ad direct year. pleased that relative deliver to

was after quarter down. Connected programmatic up shut the out products second TV revenue backing XX% advertising in we the

the During the steeply as large we advertising on as and a Netflix dynamics inventory impacted into same of Amazon by streaming the at amount discounted others were many quarter, rates. marketplace unloaded

we absorb of market to move We that, to for this inventory rise. revenue. have all TV connected expectations our expect lowered we the for past and, But until ultimately, rates

guided in minus have We Networks XXXX, programmatic up impact our about for to XX% May revenue being product. in of CTV the

up on new that about XX% from guidance XXXX is basis. Our

prior Networks sports despite million reflecting quarter profit incremental management.Segment at Second Scripps spend, $XX expenses were year flat ongoing prudent million. was to $XXX expense

as to do QX in upfront, from of impact For range be cycle third the quarter, expect last the we upfront. benefit the Networks the see the we down yet Scripps we past of XXXX XXXX revenue not the division mid-single-digit

can that and range that in as Our QX. third will keep from we down quarter third single-digit an the networks' been our greater decline in We've quarter even results expenses quarter outlook. company working to low expectation is expenses, and the you be see second realize diligently will down in

other. segment corporate of services loss expenses million. second million. In QX the reported labeled $X a quarter, Shared and $XX.X to the we Turning were for

the the $XX to million For in third expect the quarter, expense again range. we fall

fall We planning our million somewhat broader to efforts. $XX of to $XX our are due guidance below management million CapEx for to expense

million. to $XX expectation is new Our $XX million

shareholders Scripps to of per attributable was loss $XX $X.XX the or quarter, second the million For share.

on still impact even we dividend negative the pay share when reminder preferred earnings a Just don't it. per that has a stock

This $X.XX. EPS by it quarter, reduced

At equivalents June cash $XX XX, and totaled cash million.

billion. $X.X quarter at debt was net end Our

aggressive discussed, moving laid plan have an through and this paydown leverage reduction out we and debt plan. well this As we've of the we're execution year, for

has and the three asset use components: plan of flow best timing maturities. key cash evaluating the for refinancing possible Our incremental sales, of upcoming our

to divestiture We Bounce next TV some on continue share divest our to remain several holdings. to We on track move through months. within network sell process well details the the to the process more as real as estate

ad we In flow other debt incremental terms use, and to cash plan to of proceeds cash political robust from revenue our apply paydown.

range. allocation debt energy our highest by low leverage by we're capital reach clear significant putting I a down ratio priority, As and is hope our to it's paying around paydown the to now, in mid-Xx year-end

now And Adam. here's

Adam Symson

morning, capturing paying near-term and We're being down Good Jason. through and focused with thanks Today, in is us. debt moving very Scripps another meaningful on Thanks, new for long history. our intersection efficiencies that we same sustainability. into powerful channel give our a our are driving future create At company business ability eyes time, growth. connection where the our to greater fixed on

broadcast and us to about ongoing and At television on the us. how the strength spending more drive dollars tremendous We national our out they sports our reaching advertising of viewership see the to Paris of huge broadcast ability ad value forward. moment, this local I'd for intake year. audiences talk tailwind and to and and political sports propelling and in and this records areas like create of Olympics, the massive detail politics the in is

be race, election the run entry again. with than presidential combined presidential of into down Donald into unprecedented translating XXXX spend Biden's wind race The The decision recently higher anticipated. took Kamala with Trump's of at anyone Harris appears had turn a Joe to an not trials, to the the

good Scripps. While early, still news appears be this to for very

receiving related committees. political bookings and campaigns from We both action ad are already

full Cincinnati Jon In its toss-ups, ranked Nevada, defending the in driving as Montana, and Democratic local in the Sheehy. incumbent, Cleveland ABC television U.S. spends. contested and And Tester Ohio, our challenger, U.S. seeing the Republican Tim #X between markets, spending is Arizona effect in Scripps Senate Bernie and large our races his #X is issues. big affiliates in his Senator Senator Sherrod seeing where seat race against are Democratic also Brown are stations of ballot Republican and Moreno, Michigan are The

receive local of the at spending, reach news least local advertisers. ongoing of as impact will half demonstrating this influence a broadcasters political for year's election and Ad projects vehicle brand-safe

comes into always stations footprint. live more political to of know, revenue any have play, record unparalleled including to this live stations television, to to deal and And into role the that and NBC bold exactly about Scripps down the and where local than the ABC will ever. during recent subsequent NBA the the given and As benefiting is see were broadcast Scripps' year, we're you moves Scripps' bring we critical foresight continue sports you election year. leaning reach from glad recognize sports teams leagues right

prudent with sports seeing both our investment live Networks. in and It's at Media pays clear in to us off, evidence that Local we're

Miami way Miami, broadcast With local, TV the win. in County, play opportunity title major The Stanley Myers. Fort this announced X Scripps Panthers base in off Florida newest fan that last to we First provides through all extends dedicated with the their West Cup partnership Beach our markets: the Palm from north a month, Fort Panthers, and fresh Beach in NHL's Lauderdale. Palm

we new reaching Coyotes, Coyotes, We see to continue base with western partnership their great who with the Vegas will Scripps and retain And Arizona the multiple home markets. Salt the also Arizona next Golden across fan City. in a season have the Knights, states Lake former success at

political know the sports role is key and this the Sky is and all the performance football. a also XX Conference already how Montana you Big Conference I is of playing year. yield. Those partnership it's of games, political before shows With our shared of professional state, Sky XX our games our Montana capture maximizing opportunity. about no our Montana election and What adjacent to NCAA should the percentage air sports-related Big State programming, rights post-game in will will important this this in pre- significant football And the day. all season, with

professional whole and is our sports in portfolio network national this for the leadership commitment leverage our year's women's off On paying our side, strategy upfront. to in to

and Saturday for WNBA first telecasts have time, the than big dozen and with so brands us night League the advertising Women's franchise of National Friday new Our the X far. more Soccer

platforms. time their drives across upfront Scripps networks and Our strategy to periods, commitment

the what sports volume media results impact similar-sized upfront we're drive and compares in single-digit very fact, favorably of hearing over last has to year low companies. helped our In increases about to

been WNBA and games surpassed million buoyed X X Our successful viewership viewers season. have sales ION, the of this elsewhere. by so far On have upfront record on ION

over is for WNBA XXXX. revenue so this the Our year up far XX%

into over more our and the add carry halfway both we to Summer to fans' Olympics our and Just after that leagues when basketball the Olympics fuel passion ratings soccer, seeing ION through return the for enthusiasm seasons, break. expect we are women's to

local Networks sports. our Between from best and positioned new footprint is the live to portfolio, value create Scripps

be women's including almost million Scripps, entry networks diversifying million revenue, For new an to revenue, portfolio traditional connected the by in pay and to generated national sports allowing create point growth us nearly continues XXXX a volatility in through us acquiring has TV away to TV. while $XXX that $XXX in ION from

people resource Upon us and in additional We communities within structure connects insights consumers to improve the financial and information portfolio improves advertisers to and our that to their divestiture to We of and pursuit efficiencies another of in new important in technologies, Networks and one Scripps' lives. with creating connect their Bounce, performance. that consumer with live we'll neighborhoods operating strength their the division sports. lies examine continuously expense through customers our journalism connection. connect allocation to through

pursuing period paydown These our mission this kinds ours performance Connection a And to at The that by sports intend we reduction, business and leverage better operating from audiences significant is with over. day. concept and of local measure our to far for our success. our of enterprise our our once commitment partnerships, entertainment debt media drive the the transformation from value technologies business of advertising emerge a imperative. connection value is our work, it's catalyze deep of of communities. continuing company, consumer and news connections for and just not new shareholders further through In is we every our a company of and

we're And your for operator, questions. now ready

Operator

Benchmark. Instructions] go [Operator we'll of of the And Kurnos Dan line to

Daniel Kurnos

the be year and helpful. doing out, I we'll little displacement tough into comp Nuggets then to figure just, with would that wanted it's about XQ. Quick obviously, a talk them if housekeeping. couple strip can of guess, know And last more you XQ core I questions, or And impacting, out just bit hard actually in trends? you what is more Jason, the to call

And super then obviously, the front, from on guide guys. political strong you

new Adam, just to range in not be from kind the seen, that Or imply of how sort and of I the outcomes clear remarks, you're baking relative of presidential. of sort on you're we've spend fundraising the what thinking guide prepared full Your want about to potential is?

Adam Symson

Adam. take first, I guide our up It's Dan. Yes, political I'll mean, the we've pretty obviously, aggressively. moved

think that on relative seen races our with what accommodates down-ballot to Kamala I well. view impact Harris' we've as

are I opportunity on leaning the where of the think being the benefited from Republican rights Senate We reproductive with number have a to ballot. see us. states That's there now certainly races toss-ups. continued gone

a into that energy that as our set of As in spend. We've race about their around I think -- we And we think the Michael for question expectation allocate a campaign year that now look, mean, ] a earlier record it's are and cycle, of level presidential ago. presidential and this cycle it they record be I a baked against and a itself, that [ was hadn't in of think the when an spending clearly of comps Bloomberg out And talk early forecasts. of been how record about his will spending we X amount first second in tough saw half. frankly, We we in cycle spending us. this quarter amount the seeing

we're far, stops place make so do question broadcast able there's I think continued So, we will the to be sure good. pull all mean out to And maximize opportunity? the will that our revenue I order upside. this on all obviously the we in stations. But so how

Lisa Ann Knutson

core revenue was in it's so to about Related down QX, we Dan, Lisa. as reported, X%.

that of anywhere when a to think due we displacement, from to of XX% was market. Some And displacement. think in about XX% particular we

As huge and are and Montana see Jason and we continue tight, very, to there. Adam very indicated, Ohio upside both

of a it. So that's driving lot

QX. We also saw softness in some category

and we continue into were the positive. Both down, finished the and did QX quarter a slightly our for bit call, automotive, our think that I top little categories we services when in of of seeing sort seeing we're QX. we

seeing some you're So of in guide. our that

big pointed half I year. the for the political both record And year, we as Jason as really, political out, in record the political. think I And we'll in think spending Adam of saw story first the is well including in and QX see obviously, QX. and,

Daniel Kurnos

sneak Lisa. And if good I hear One to you, it. Got more, in. from can one

I from in heard live seems some Networks perspective. appreciate color a we from the like things the on of positive upfront. and lot just thought Adam, Just around came Obviously, actually ION. I pricing linear/digital even really mean better than the linear combined a people it for sports, upfront sort and

what that, had And to and to know subsequently, of And you about you sort how being thinking should just made margins cost we the macro I return the we understand potential get as fast you can think so back how and to about can because one growth? forward, them appreciate to commentary, when be like acquisition? where no the then your should efficiency portfolio's trying QX how envisioned forgetting with from move onwards, control happens we

Adam Symson

Dan. Thanks, Yes.

Let little me upfront and will how the impact, to a it I then get commentary more think, first the portfolio. question your with Networks bit start on about

single I And think When we're going it be digits sports year's results really driven by up think ultimately, low CTV. apparent. volume, you strategy. very to essentially is and this validated have sports overall, about upfront our in

assets going don't story. the will the so sports and to the CTV driven strategy, good was know that if positive see have I in But you I the if And have you everybody story. right we're industry think by a think that upfront say that I right

mid-single we're and last And year's up the rates done, last to For us, to upfront digits going upfront. consistent XX% we're last completely not about up rates over pacing be is I about now, XXx be rates, year. Sports in last think at over with to sports, are looking pretty year. year's CTV Relative are right volume. going

a So think, validation our a strategy. of again, story positive really, and I really

make this, our percentage beautiful of The up part a sports of those small programming.

the brand Our order our portfolio. about ION women's always leveraging entire impact and strategy in to overall sports was Networks

all across networks so new the these well brought periods, periods going we're CTV. to but rate across our driving And and sports those for on us I time networks in story platforms those their different, for to time that's be across on think of our the onto ION advertisers different now of out And spend, only the upfront. big not while is and in we

Networks the the you're resource expense to continuously improve where optimize going strategy to Networks continue to order for allocation the want we business. I of to think course getting them to the year, the in the Relative see over to next back margins and us be,

I to conditions, there has the a the the where to we going for been. prudently to revenue see of back business in. urgently to that business act in you'll that recognize -- us, expect margin and the to the was And where that. can then gap think think business be expense revenue we between since adjust is we thought I we obviously because but that get order so meet obviously, we structure us when the it calls do macroeconomic the And the

Jason Combs

maybe lost wasn't make in sure script. want And I on, I the just to to add

QX, more and flat us to guided QX. seen we QX are be to that down we down should singles than QX expenses already You've QX foreshadowed in low in by in expect you to in

see through that to in come starting guidance. forward-looking also you're our So

Operator

Cahall the go we'll of to Steven next, of line And Wells Fargo.

Steven Cahall

that much it that more think makes you're of We've CW to about view to to some think a reprogram then network the given this sports at was what sports on must-carry if Nexstar point just And move and there's that much ION of retrans-driven cost success you at forward? investments which that the the we as wondering bring from little sense they're wondering going I about point about seeing? platform. a bit contributing you I you sports-centric is could how I core talked a will a know a sports. to Adam, seen what think you towards more prudent a So network talked was your side. of sports. And you how the much do local lot

going for update well. It And bidders deleveraging in? whether the mention efforts. so Bounce? you what touching that's sounds thanks on Any or Jason, timing some Can you're then, stage like have on you the multiple of around

to is finally, way it kind and relates about any towers for other assets then those as quantum And like of for per think real divestitures? rough timing types of estate, us there to

Adam Symson

which looking turn Steven, prudently additional question. us is station, it's ION strategy. I key. the Yes, look, the thanks sports, but sports answer ways we is to are sports to look a accretive at is continue for the an answer programming to our think to for not adding in into move mix at The add to

lot from really, bring entertainment to strategy. tell have value from we the really you, we in programming the strategy. upfront, with And the benefit even the is predictability I important existing a our of to get and marketplace of our a part

those it rebranding ION but is about also ION in is really to only more viewer. not lowering a of periods. average particularly age and the bringing that those age requires time sports, periods, audiences. time it's sports, about today ION making general you moving about that It reach outside of to -- So of variety it's the multicultural, the not recognizing women's different sports, on in all entertainment And

bring sense. and really additional opportunities continue So the on on would would are look they brand working. we make I is if the economics say to sports to if to identify strategy But

certainly You not about now. right retrans our moving in must-carry, versus to plan that's asked and

sports? we proposition to to well, to brings how you when can leagues so have continue premise to to to wondering, table ION probably And the that down the afford say And you're teams. and I ION's all comes add or negotiating talk

check to deployed believe luck why it an continue we TV bringing table the available on over-the-air, for we make At where something as leagues ION's have. to a good platform the have a platform ubiquitously the are we rights. addition in And recognize and that's I unparalleled cable, the relationships end satellite we of day, platform, think to connected that with

creating table talk because of and on in both, find a sports. the at other else leagues just a appreciate stories shows, to night franchise folks I networks, studio it's to in way And to women's WNBA, otherwise, think tell the commitment has has of when the NWSL that fact and sports. of nobody jammed fans in halftime our preshows, for sports the the helped athletes appreciate characters around that put these sort that develop on women's which sports shows we women's They the post-game we men's we've shows, committed to. they the committed

value reach of to And I our so to take, they and partnership sports we programming. I our just why expense towards think the and beyond live can check able that well see value think, the that's approach a of cash, allocation prudent we're a

Jason Combs

the your in well, And it's a really months. middle Bounce along the say should I process. more from since couple next we Steve, lot hear of And competitive a process. in of and moving on the you questions, us it's can't say would we're

looking cash $XX million I we're a to million in there, between From generate $XXX a if of estate would proceeds looking real and perspective, those sort activities. say for you're quantum from

Operator

Instructions] [Operator

Carolyn Micheli

are Kevin, questions. think assuming Oh, we'll Thanks, everyone, us right, no there sorry. wrap up, I other for joining today. All it

Operator

have do we one, Huber of Craig Actually, Huber Research.

Craig Huber

just I'll life go right. to time what the one A is at percent you your make from stations just now? was that questions. are coming over-the-air? All on number nowadays Adam, at viewers Where Where a roughly you X years of easier. TV it think do ago? few guys'

Adam Symson

West on with and higher. XX% and to lot higher. Markets have probably demographics. markets some do and geography it's that. it's and geography Arizona, market depending between even also topography in somewhere that's like be on the based Market to Again, In cases, XX% market. like grown topography it's In think I it's Palm, a lower.

say, or I'd much networks' the think XX% is you XX% it's is but from over-the-air coming other revenue also, the over-the-air of and networks, networks audience example, other of then probably viewing. When their higher. between for the multicast ION from higher. networks, audience over-the-air, some is significantly primarily generating distribution primarily Bounce, they're we think the And about and about

measurement markets said, accurately with at we we're marketplace, value with local that networks that especially can the from and I the direct necessarily because marketplace we continue ensure darn the marketplace, ratings is the percentage All to this properly direct reflecting response that the is that over-the-air grow. getting about and definitely the viewing continues compared don't delta, dependent feel response the of to to or our point And platforms they're the that efficacy the the believe in ratings. measuring a the currency of audiences but of which work all we over-the-air obviously to on good see pretty

Craig Huber

like -- feels through money I'd you're a buck you sounds do number it guys Adam, other been put you promotion you, where level, right? funding into have have bang It effort was year. think, be segment like this for I there, you stuff. getting years running And versus this that here you have that mean good you're roughly last ago? while pretty I big year and X your your And curious the

Adam Symson

you beginning about cord-cutting, our back go years was was that, we it I mean I several the on further I were when distribution outset X%. platform, it as you, than would Yes. even ago, a really focus if of below at tell over-the-air say would XX%.

cable their is interesting level viewing, add an ubiquity. and over-the-air of referenced article lot be certain did We're and just a opportunity and in form for identifying fact on CTV to as premise television Forbes continues the to that think over-the-air fastest-growing reaches probably view television is free the of to obviously viewing, the seeing I linear people our of television broadcasting the of a that bundle, growth. decline

Craig Huber

about go the small segment, you your being it same what year? that those or to about dollars year is how Is versus last spent a segment promotion And efforts have? mean I this what? other that

Adam Symson

Yes. and you this to think hit I of being of overall, business, tied the our promotion of revenue over-the-air shifted generating most that of Tablo which expense of development revenue. mean the We year, in most or through is the I see sort run advocate from our we're Tablo Tablo also growth for that And we to consumer its sales been our customer advocate because And there's a away direct over-the-air this to to the in through trying being costs. we've get. fact, industry's use really able targets. the lower of connection acquisition quarter,

And so that over-the-air way to a marketplace. the continue prudent as use we'll to grow

to routinely television, my to to rescan our now pretty well. consumers have new think frankly, not not as disproportionately remind will They and some of that do I'm really where need only in with over-the-air they own at support positive promo our point also inventory, also are We need inure I'm that to the starting And ours, identify order benefit to conversations in use opportunities, peers. marketplace. others themselves recognizing the for the only we to but us

Craig Huber

understand just I last this. bit on Okay. ask quarter more can going little Networks, you second so a for a could that. appreciate If I the I back Scripps just to

categories for that Was significantly came guidance in missed all June revenue down Your came been -- mid-single digits What hone the that's because month Is in that this. the revenues. the down in Networks against was worse quarter. Numbers the there in this expected? maybe of you for problems? I on than all Scripps because X.X%

Lisa Ann Knutson

Lisa. Craig, it's

On was the was all side, story the CTV. -- Networks it

CTV a really in remarks, the ton his had inventory react mentioned not the into on and marketplace dumped of of discounted rates. Netflix space both in Amazon So Jason to And others that. -- to just at steeply as Scripps, lots but

Amazon early up in seeing I think launched it the of throughout quarter. I the ways, -- think, unexpected. That was And April, so and ended in March, was really, we effect that ads some late

Craig Huber

think now for quarter? a your with dynamic grasp down you the similar much you that mid-single-digit outlook have on And Okay. better current

Lisa Ann Knutson

Yes.

Craig Huber

In other down digits words, third around, mid-single do you feel time quarter? this fairly this confident of it

Lisa Ann Knutson

Yes, Yes. yes.

Craig Huber

please. at about then bit All little stations, And a TV talk auto further advertising would, you your right. if

down auto, what's quarter, was slightly. of little -- current And for your it around said you think know outlook what here for things the moving I it's but I sort just please?

Lisa Ann Knutson

Well, my that second slightly. was down were comments quarter

So was down auto about X%.

as biggest issue QX that's X%. -- quarters to have our XXXX. a local on was auto. were down grow XXXX -- make Certainly, think lot that dealer from which certainly the for in in turn the is And to is move best a also think to opportunity dealers up in about future I room group quarters, were I previous where they and

in In seeing terms we're really multiple Jason certainly our think the slightly of But would of third continue of is seeing Olympics, I some see out in largest we'll about auto which mentioned, We're -- that range. so categories. But down to categories, positive trending, helping -- automotive that. one say, quarter. I that as being some is helping momentum

Craig Huber

And about as in that the And possible the very year. general for this XXXX? in in out then strong my industry think races group quite changed hot, unfortunately political. got all competitive chance and full here as question as not up sorry, the be question, year. it's Early my political indications to not may Is thought happened that Is political year stuff. did ways last seem whole shifted again TV but different as at very through a earlier went how several benefit and be we last have XXXX? like benefit not you strong the this into did see bit out to a of we there mean about you play there some and deeper going station the people the year, what as on things guys just I on -- obviously, in would much money side it were end for being

Adam Symson

Absolutely not.

said confident scenario. In it's we analysts quite the fact, the investors a opposite this guide to lesson I I've I think the And be were that we in putting we around, think last not and learned guide. time this not would out all if in

Operator

queue. no At in this have questions time, we further

Carolyn Micheli

for time Thanks, Kevin. good wind We'll Okay. today. everybody, Thanks, up weekend. a now. your Have

Operator

conference. you. Ladies your that conclude and thank And does gentlemen,

may a Have You day. disconnect. now good

The E.W. Scripps Company (SSP) 9 Aug 242024 Q2 Earnings call transcript