Monday, August 10, 2026
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Mixed Q2 results, but EBITDA outlook remains intact. Second-quarter results reflected continued pressure in the Scripps Networks business from weak national advertising, retransmission disruptions, and Nielsen measurement changes. However, stronger political advertising guidance and accelerated transformation savings largely offset these headwinds, leading us to maintain our 2026 adjusted EBITDA estimate despite modest revenue revisions.
Transformation plan gains momentum. Management increased its expected year-end transformation run-rate savings to $100 million, up from $75 million previously, reinforcing confidence in its target of delivering $125–150 million of incremental annualized EBITDA by 2028 through AI, automation, and operational modernization.
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