Sinclair (NASDAQ:SBGI) Announces Earnings Results, Beats Estimates By $0.07 EPS

Sinclair (NASDAQ:SBGI) issued its earnings results on Wednesday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07, Zacks reports. The firm had revenue of $836.00 million during the quarter, compared to the consensus estimate of $840.25 million. Sinclair had a negative net margin of 3.53% and a negative return on equity of 67.24%. The business’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.61 earnings per share.

Here are the key takeaways from Sinclair’s conference call:

• Delivered strong 2025 results and raised expectations for 2026 — full-year 2025 revenue was $3.2B with Adjusted EBITDA of $483M, Q4 Adj. EBITDA was $168M, and 2026 guidance calls for $3.4B–$3.54B revenue and $700M–$740M Adj. EBITDA (political revenue at least $333M).
• Core advertising and audience strength are improving — Q4 core ad revenue grew 14% YoY, driven by live sports and the Digital Remedy acquisition, and management expects a sports-heavy 2026 (Olympics, World Cup, NFL/college football) to support sustained ad demand.
• Balance sheet and liquidity materially improved — completed refinancing, retired 2027 notes, established a $375M AR facility, ended year with $866M cash and ~$1.5B liquidity, nearest material maturity moved to Dec 2029, and deleveraging using 2026 political cash is a top priority.
• Sinclair Ventures is being repositioned and monetized — Ventures generated $104M of distributions in 2025, holds $465M cash, is shifting toward majority-controlled operating investments, and management is planning a potential Ventures separation to unlock value.
• Regulatory developments create a more constructive M&A backdrop — FCC signals on modernizing ownership rules, the vacating of the Top-Four prohibition and multicast restrictions, and an active ATSC 3.0 and sports marketplace inquiry increase opportunities for portfolio optimization and consolidation.

Sinclair Stock Down 3.5%

Shares of SBGI traded down $0.57 during mid-day trading on Friday, hitting $15.72. 28,575 shares of the company’s stock were exchanged, compared to its average volume of 362,974. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.01 and a quick ratio of 2.01. Sinclair has a 52 week low of $11.89 and a 52 week high of $17.88. The company has a market cap of $1.10 billion, a PE ratio of -9.38 and a beta of 0.96. The company has a 50-day simple moving average of $14.89 and a 200 day simple moving average of $14.68.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Sinclair’s dividend payout ratio (DPR) is currently -59.52%.

Analyst Ratings Changes

SBGI has been the topic of several research analyst reports. Benchmark raised their price objective on Sinclair from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a research report on Monday, December 29th. Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Guggenheim lifted their price target on shares of Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

Sinclair News Roundup

Here are the key news stories impacting Sinclair this week:

• Positive Sentiment: Core advertising strength: management and the earnings presentation highlighted 14% growth in core advertising and outperformance at Tennis Channel; political ad spending tailwinds were noted (2024 political ad spend expected >$350M), supporting near‑term revenue upside. Earnings Highlights
• Positive Sentiment: EPS beat: reported Q4 EPS of $0.04 topped the consensus loss expectation (–$0.03), suggesting operational resilience despite revenue pressures. Q4 Report
• Positive Sentiment: Analyst upgrades/price‑target raises: Benchmark raised its target from $27 to $30 (Buy) and Wells Fargo raised its target to $17 (Equal Weight); Seeking Alpha also upgraded to Buy citing dividend support and upside — these endorsements can lift sentiment and buying interest. Analyst Coverage Wells Fargo Note SA Upgrade
• Positive Sentiment: Dividend boost: Sinclair declared a $0.25 quarterly dividend (annualized yield ~6.1%), which supports income‑focused investor interest and provides share price support.
• Neutral Sentiment: Q4 revenue roughly in line: revenue of $836M came close to estimates (~$840M) but was down year‑over‑year; the print is not a surprise but limits upside from a top-line perspective. Press Release
• Neutral Sentiment: FY2026 revenue guidance narrow to ~$3.4B–$3.5B, roughly in line with consensus but slightly cautious at the midpoint — guidance contains both risk and clarity for the year. Slide Deck
• Negative Sentiment: High leverage and profitability concerns: net leverage remains elevated (~5.3x noted by analysts) and Sinclair reported a negative net margin and negative ROE, keeping debt reduction and cash‑flow remediation as key risks. SA Analysis
• Negative Sentiment: Sharp earnings comparability: EPS was materially lower year‑over‑year (prior year included $2.61), and revenue fell ~16.7% YoY — investors watching for sustainable recovery rather than one‑time improvements. Press Release

Insider Transactions at Sinclair

In other news, EVP David B. Gibber sold 29,376 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $16.67, for a total value of $489,697.92. Following the sale, the executive vice president owned 165,272 shares of the company’s stock, valued at $2,755,084.24. The trade was a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benson E. Legg sold 6,548 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $15.81, for a total transaction of $103,523.88. Following the completion of the transaction, the director directly owned 71,165 shares of the company’s stock, valued at approximately $1,125,118.65. This trade represents a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,637 shares of company stock valued at $815,535 over the last 90 days. 41.90% of the stock is owned by corporate insiders.

Institutional Trading of Sinclair

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Sinclair by 5.7% during the first quarter. AQR Capital Management LLC now owns 41,993 shares of the company’s stock valued at $656,000 after purchasing an additional 2,258 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sinclair by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock worth $304,000 after purchasing an additional 780 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Sinclair by 134.7% during the 1st quarter. Acadian Asset Management LLC now owns 11,525 shares of the company’s stock worth $182,000 after purchasing an additional 6,615 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Sinclair by 17.7% during the 2nd quarter. Cetera Investment Advisers now owns 17,097 shares of the company’s stock worth $236,000 after purchasing an additional 2,572 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Sinclair by 5.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 31,075 shares of the company’s stock valued at $429,000 after buying an additional 1,511 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.