Key Highlights
- Full-year 2026 political Advertising guidance was lifted to about USD 275 million, up from a prior range of USD 225 million to USD 250 million.
- Third-quarter political Revenue reached nearly USD 81 million.
- About 850 jobs were cut in 2026, close to 20% of the workforce at the start of the year.
- The company is targeting annual run-rate savings of about USD 100 million by the end of 2026.
- Cash stood at USD 83 million at the end of the third quarter, and at least USD 150 million of Debt paydown is planned for the fourth quarter.
What Moved Scripps Before the Open (up USD 0.2101, 7.81%)
In pre-market trading on November 4, 2026, E.W. Scripps (NASDAQ:SSP) gained USD 0.2101, or 7.81%, to USD 2.90, after closing at about USD 2.69 on Tuesday, November 3. No new company announcement dated November 3 or November 4 was identified, so the move appears to reflect positioning ahead of Earnings and the timing of the U.S. midterm election day.
The company will release third-quarter 2026 results after the market close on Thursday, November 5, 2026, with a management call on November 6. Local broadcasters such as Scripps collect heavy political advertising in election years, which makes the coming report and the fourth-quarter outlook a focus.
The October 28 Update in Detail
In a press release dated October 28, 2026, Scripps lifted its full-year Local Media political advertising guidance to about USD 275 million, roughly 40% above the 2022 midterm figure. The earlier guidance, issued in August, ranged from USD 225 million to USD 250 million. Third-quarter political revenue came in at nearly USD 81 million.
The same release disclosed 431 more workforce reductions completed on October 27, 2026, bringing the 2026 total to about 850. Management expects annual run-rate savings of about USD 100 million by year-end, with the effect most visible in fourth-quarter results. A wider transformation plan targets USD 125 million to USD 150 million of enterprise EBITDA growth by 2028.
Business Background and Expectations
Scripps is a U.S. media company that owns local television stations and operates national networks and news businesses. Its second-quarter 2026 revenue was USD 490.4 million, with a loss of USD 0.34 per share. Consensus estimates compiled from published market data point to third-quarter revenue of about USD 545 million and a loss of USD 0.08 per share, compared with USD 525.9 million and a loss of USD 0.40 a year earlier. These are third-party estimates, not company guidance.
Revenue growth of about 3.7% implied by that consensus is calculated from the two revenue figures. Political advertising is lumpy and falls away in odd-numbered years, so investors are likely to focus on the core advertising trend and retransmission revenue alongside the political windfall.
Balance Sheet, Risks and What to Watch
Scripps ended the third quarter with USD 83 million in cash. The company plans a debt paydown of at least USD 150 million in the fourth quarter, funded by cash on hand and political receipts. Leverage has been a long running concern for the sector, so progress on that paydown matters.
Shares trading below USD 5 sit in Penny Stock territory, where Volatility is high, Liquidity can be thin and shareholders may face dilution if Capital is raised. A pre-market gain without fresh news can fade at the open.
On November 5, watch the reported political revenue, the Margin effect of the cost cuts, fourth-quarter commentary and any update on debt reduction. The result against the consensus loss of USD 0.08 per share will frame trading on November 6.






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