Sinclair (SBGI) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to loss of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 43.82%. A quarter ago, it was expected that this television broadcasting company would post a loss of $0.14 per share when it actually produced earnings of $0.27, delivering a surprise of 292.86%.Over the last four quarters, ...

Revenue Performance - Total revenues for Q3 2024 increased by 20% to $917 million compared to $767 million in the prior year period[8]. - For the nine months ended September 30, 2024, total revenues increased by 10% to $2,544 million compared to $2,308 million in the prior year period[11]. - Total revenues for the three months ended September 30, 2023, were $767 million, a decrease of 6% compared to the previous period[16]. - Total revenues for the three months ended September 30, 2024, were $917 million, a 19.5% increase from $767 million in the same period of 2023[27]. - Media revenues increased to $908 million, up 19.8% from $758 million year-over-year[27]. Advertising Revenue - Core advertising revenues grew by 1% year-over-year, totaling $295 million, while total advertising revenues increased by 42% to $433 million[2][8]. - Political revenues reached $138 million, a 31% increase over 2020 levels, despite $5 million in lost revenue due to late ad cancellations[2][3]. - Core advertising revenue for the twelve months ending December 31, 2024, is projected to be between $1,210 million and $1,219 million[23]. EBITDA and Income - Adjusted EBITDA for Q3 2024 increased by 72% to $249 million from $145 million in the prior year period[9]. - Adjusted EBITDA for the same period was $145 million, reflecting a decrease of 11%[16]. - Operating income for the three months ended September 30, 2024, was $179 million, compared to $37 million in the same period of 2023, representing a significant increase[27]. - Adjusted EBITDA for the three months ended September 30, 2024, was $249 million, up from $145 million in the same period of 2023[32]. - Net income attributable to Sinclair for the three months ended September 30, 2024, was $94 million, compared to a net loss of $46 million in the same period of 2023[27]. - Net income attributable to the Company was $134 million for the nine months ended September 30, 2024, compared to $50 million in the prior year period[12]. Expenses and Costs - Total operating expenses for the three months ended September 30, 2024, were $738 million, slightly up from $730 million in the same period of 2023[27]. - Interest expense for the three months ended September 30, 2024, was $78 million, compared to $77 million in the same period of 2023[32]. - The company incurred $22 million in non-recurring and unusual transaction costs, impacting overall profitability[36]. - Depreciation and intangible amortization expenses totaled $59 million, contributing to the operating income analysis[36]. Cash and Debt - Total company debt as of September 30, 2024, was $4,131 million[18]. - Cash and cash equivalents as of September 30, 2024, amounted to $536 million[18]. - Capital expenditures for the third quarter of 2024 were $17 million[19]. - The company paid a quarterly cash dividend of $0.25 per share in September 2024[19]. Future Projections - The company expects total revenues for the three months ending December 31, 2024, to be between $1,004 million and $1,014 million[22]. - Operating income for the three months ending December 31, 2024, is expected to be between $236 million and $247 million[22]. - Distribution revenue for the twelve months ending December 31, 2024, is expected to be between $1,740 million and $1,742 million[23]. Strategic Initiatives - The Company launched new podcasts and expanded its podcast division, with several shows ranking among Apple's top-10 sports podcasts[4]. - Sinclair Ventures made investments of approximately $7 million in minority investments during Q3 2024[7]. - The company emphasizes the importance of successful execution of outsourcing and retransmission consent agreements for future growth[37]. - There is a focus on identifying and consummating acquisitions to enhance market position and financial leverage[37]. Risks and Challenges - Forward-looking statements highlight potential risks including subscriber decline and regulatory challenges, which may affect future operating results[37]. - The company faces material risks related to programming costs and competition for viewers and advertisers[37]. - Legal and reputational risks are acknowledged, particularly concerning breaches of information systems[37]. - The company has no obligation to publicly release revisions to forward-looking statements except as required by law[37].

Core Insights - Sinclair (SBGI) shows potential as a strong investment due to significant revisions in earnings estimates, indicating an improving earnings outlook [1][2] - The trend of increasing estimate revisions reflects growing analyst optimism about Sinclair's earnings prospects, which is likely to positively impact its stock price [2][3] Current-Quarter Estimate Revisions - For the current quarter, Sinclair is projected to earn $0.93 per share, representing a remarkable increase of +410% compared to the same quarter last year [4] - Over the past 30 days, there has been one upward revision in estimates with no negative revisions, leading to a 9.47% increase in the Zacks Consensus Estimate [4] Current-Year Estimate Revisions - For the full year, Sinclair is expected to earn $4.57 per share, which is a substantial change of +140.62% from the previous year [5] - The current year's estimate revisions are also favorable, with one estimate moving higher and a 21.83% increase in the consensus estimate over the past month [5] Favorable Zacks Rank - Sinclair currently holds a Zacks Rank 1 (Strong Buy) due to positive estimate revisions, which historically correlate with strong stock performance [6] - Stocks with Zacks Rank 1 and 2 have shown significant outperformance compared to the S&P 500 [6] Bottom Line - Strong estimate revisions have led to a 10.7% increase in Sinclair's stock price over the past four weeks, suggesting further upside potential [7]

Shares of Sinclair (SBGI) have gained 2.8% over the past four weeks to close the last trading session at $13.92, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $17.62 indicates a potential upside of 26.6%. The mean estimate comprises six short-term price targets with a standard deviation of $5.18. While the lowest estimate of $13 indicates a 6.6% decline from the current price ...

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Table of Contents Title of each class Trading Symbol Name of each exchange on which registered Class A Common Stock, par value $ 0.01 per share SBGI The NASDAQ Stock Market LLC Sinclair, Inc. Yes ☒ No ☐ Sinclair Broadcast Group, LLC Yes ☐ No ☒ Sinclair Broadcast Group, LLC Yes ☒ No ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ...

Sinclair (SBGI) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of a loss of $0.14 per share. This compares to loss of $1.09 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 292.86%. A quarter ago, it was expected that this television broadcasting company would post a loss of $0.54 per share when it actually produced earnings of $0.43, delivering a surprise of 179.63%. Over the last fou ...

Sinclair, Inc. (NASDAQ:SBGI) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Chris King - Vice President, Investor Relations Chris Ripley - President & Chief Executive Officer Rob Weisbord - Chief Operating Officer & President, Local Media Lucy Rutishauser - Executive Vice President & Chief Financial Officer Conference Call Participants Dan Kurnos - The Benchmark Company Benjamin Soff - Deutsche Bank Avi Steiner - JPMorgan David Hamburger - Morgan Stanley Operator Good aftern ...

SINCLAIR 111 2Q24 Earnings Presentation August 7, 2024 Published by: Sinclair, Inc. NON-GAAP FINANCIAL MEASURES n Q This presentation contains certain financial measures of Sinclair, Inc. (the "Company"), including Adjusted EBITDA, which are not prepared in accordance with U.S. generally accepted accounting principles ("GAAP") (collectively, the "non-GAAP financial measures"). Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization, and non-recurring and unusual transactio ...

News Release SINCLAIR REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS BALTIMORE (August 7, 2024) - Sinclair, Inc. (Nasdaq: SBGI), the "Company" or "Sinclair," today reported financial results for the three and six months ended June 30, 2024. Highlights: • Met second quarter Revenue guidance on Distribution and Advertising • Exceeded second quarter Adjusted EBITDA guidance • As of August 1, the Company has booked $146 million in political advertising for the second half of the year through Election Day; this c ...