E.w. Scripps Company (the) · NASDAQ:SSP
E.w. Scripps Company (the) — The E.W. Scripps Company — Deutsche Bank Leveraged Finance Conference 2024
16 slides from E.w. Scripps Company (the)'s conference presentation, Sep 24, 2024
Slide 1: Deutsche Bank Leveraged Finance Conference
DEUTSCHE BANK LEVERAGED FINANCE CONFERENCE S E P T. 2 4 , 2 0 2 4 G I V E L I G H T A N D T H E P E O P L E W I L L F I N D T H E I R O W N W A Y
Slide 2: Safe Harbor Disclosure
S A F E H A R B O R D I S C L O S U R E This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward- looking statements can be identified by words such as: “believe,” “anticipate,” “intend,
Slide 3: Scripps' Assets Work Together to Create Value: Local Media Division
SCRIPPS' ASSETS WORK TOGETHER TO CREATE VALUE FOR US, AUDIENCES AND ADVERTISERS LOCAL MEDIA DIVISION 3
Slide 4: Our Local News Brands Matter to Our Communities and Create Deep Loyalty
OUR LOCAL NEWS BRANDS MATTER TO OUR COMMUNITIES AND CREATE DEEP LOYALTY Our news coverage has inspired new legislation, changed laws and led to more open government records – serving our most important role as a watchdog for our communities and viewers. Through our local news initiative: • We have c
Slide 5: Our National Networks Are the Largest Portfolio of Free Broadcast TV
OUR NATIONAL NETWORKS ARE THE LARGEST PORTFOLIO OF FREE BROADCAST TV • We are the leader in free over- the-air television. • Our portfolio reaches nearly every U.S. TV household over the air. • All networks are available over the air, on connected TV and on pay TV. • We offer demo-targeted entertain
Slide 6: We Anticipate Significant Progress on Our Debt Levels and Leverage Ratio in 2024
WE ANTICIPATE SIGNIFICANT PROGRESS ON OUR DEBT LEVELS AND LEVERAGE RATIO IN 2024 Our five drivers of debt paydown and leverage reduction are: 1. Political advertising revenue: We will benefit from the high-margin political ad revenue that broadcasters get, as the primary beneficiaries of political a
Slide 7: Scripps Is Guiding to a Record Political Advertising Year
WITH ITS WELL-POSITIONED FOOTPRINT, SCRIPPS IS GUIDING TO A RECORD POLITICAL ADVERTISING YEAR 2024 Electoral College Map Scripps’ guidance of $270 million-$290 million is above the 2020 level of $265 million. Key drivers include: • Scripps has local stations in four of the eight key presidential tos
Slide 8: Seven National Networks Distributed Ubiquitously Across Streaming Services
SCRIPPS’ SEVEN NATIONAL NETWORKS ARE DISTRIBUTED UBIQUITOUSLY ACROSS STREAMING SERVICES PLUS YouTubeTV ✓ ✓ ✓ ✓ Samsung TV Plus ✓ ✓ ✓ ✓ ✓ ✓ ✓ Vizio WatchFree+ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Roku Channel ✓ ✓ ✓ ✓ ✓ ✓ ✓ Xumo ✓ ✓ ✓ ✓ ✓ ✓ ✓ Tubi ✓ ✓ ✓ ✓ ✓ ✓ ✓ FuboTV ✓ ✓ ✓ ✓ ✓ ✓ ✓ TCL ✓ ✓ ✓ ✓ ✓ ✓ ✓ FreeVee ✓ ✓ ✓ ✓ ✓ ✓ ✓ Pl
Slide 9: Scripps Sports Gives Us Live Sports to Grow Revenue, Viewership and Brand Awareness
SCRIPPS SPORTS GIVES US LIVE SPORTS TO GROW REVENUE, VIEWERSHIP AND BRAND AWARENESS Sports rights offer several opportunities for us: • Grow company profitability through sports advertising revenue and increased retransmission rates consistent with live sports value • Improve network/station ratings
Slide 10: Financials and Debt Position
FINANCIALS AND DEBT POSITION
Slide 11: Scripps' Recent Business Highlights
SCRIPPS’ RECENT BUSINESS HIGHLIGHTS • Scripps believes its 2024 Local Media election-year political advertising revenue will reach record levels, with guidance given of $270 million-$290 million. • Progress continues on the planned divestiture of Scripps’ Bounce television network. Bounce, whose pro
Slide 12: Q3 Guidance
Q3 GUIDANCE Q3 2024 Guidance Local Media revenue Up about 20% Local Media expenses Up low-single-digit percent range Scripps Networks revenue Down mid-single-digit percent range Scripps Networks expenses Down low-single-digit percent range Shared Services and About $21 million Corporate 12
Slide 13: Capital Structure and Financial Policy
CAPITAL STRUCTURE AND FINANCIAL POLICY FINANCIAL POLICY & CONSIDERATIONS • Our Q2 2024 ratio of debt to net profit was 6.0x*. Maturity profile Debt • Our target ratio is the mid-3 range. • We will use future profits to lower debt. • We historically maintain an average cash balance of $15 million- $7
Slide 14: Questions + Discussion
QUESTIONS + DISCUSSION
Slide 15: Appendix: GAAP Reconciliation
APPENDIX: GAAP RECONCILIATION
Slide 16: Non-GAAP Information
NON-GAAP INFORMATION In addition to results prepared in accordance with GAAP, the company discusses adjusted EBITDA, a non-GAAP Three Months Ended Six Months Ended performance measure that management and the company’s June 30, June 30, Board of Directors uses to evaluate the performance of the (in t
The E.W. Scripps Company — Deutsche Bank Leveraged Finance Conference 2024 on 6ix