Analysts expect profit swing from E.W. Scripps

Analysts are looking for media company E.W. Scripps to report a turnaround from a year ago when it releases its third quarter financial statement on Friday.

Scripps, the parent company of the Knoxville News Sentinel and the Memphis Commercial Appeal, is expected to report a profit of about 9 cents per share compared to a loss of 9 cents per share in the third quarter last year.

Revenues are projected to be up about 27 percent to $214 million for the quarter.

Scripps likely benefited from considerable political spending on television advertising. The company’s TV properties include stations in Ohio, Colorado and Florida, three of the most hotly contested battleground states in the just concluded presidential campaign.

The company’ portfolio include 19 TV stations and newspapers in 13 markets nationwide.

Friday’s quarterly report will be the first since the death last month of Robert P. Scripps, a grandson of the company’s founder. His death brought the end of the Edward W. Scripps Trust, which had controlled the company since 1922.

The end of the trust has raised questions about future ownership of the company, but President and CEO Rich Boehne said in a news release he has confidence in the preparations that have been made for the company’s continued stability.

Click here for the Wall Street Cheat Sheet’s sneak peek at 3Q earnings.