Scripps Q2 2026 earnings: $1.1 billion impairment magnifies operating pressure

Scripps reported Q2 2026 revenue of $490.4 million, down 9.2% year over year, and a diluted loss of $12.68 per share versus $0.59 a year earlier. A $1.14 billion non-cash impairment drove most of the GAAP loss, while adjusted EBITDA fell to $55.2 million from $88.9 million. Local Media profit held flat as lower costs and record political advertising helped offset retransmission blackouts, but Scripps Networks revenue declined 16.5% and segment profit fell 54.4%. Q3 guidance calls for about 20% Local Media revenue growth but continued Networks pressure.