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

Sinclair (NASDAQ:SBGI) announced its earnings results on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07, Zacks reports. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%. The firm had revenue of $836.00 million for the quarter, compared to analyst estimates of $840.25 million. During the same quarter last year, the business earned $2.61 earnings per share. Sinclair’s revenue was down 16.7% compared to the same quarter last year.

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 Trading Up 20.5%

Shares of NASDAQ:SBGI traded up $2.84 during mid-day trading on Thursday, hitting $16.70. The stock had a trading volume of 442,652 shares, compared to its average volume of 346,147. The company has a market cap of $1.16 billion, a PE ratio of -26.91 and a beta of 0.96. The company’s 50 day moving average is $14.88 and its 200-day moving average is $14.67. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.01 and a current ratio of 2.01. Sinclair has a 12-month low of $11.89 and a 12-month high of $17.88.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.0%. Sinclair’s payout ratio is currently -161.29%.

Wall Street Analysts Forecast Growth

SBGI has been the subject of a number of research reports. Benchmark boosted their price target on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Research upgraded Sinclair from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Guggenheim upped their price objective on shares of Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.75.

Key Sinclair News

Here are the key news stories impacting Sinclair this week:

• Positive Sentiment: Benchmark Co. raised its price target on SBGI from $27 to $30 and initiated/maintained a “Buy” stance, implying material upside versus the current level. Benchmark target raise
• Positive Sentiment: Q4 EPS beat materially — Sinclair reported $1.55 EPS vs. consensus roughly -$0.03 — driven by stronger-than-expected core advertising performance. That earnings surprise is a major positive catalyst. Q4 results press release
• Positive Sentiment: Management highlighted 14% core advertising growth and strong performance at Tennis Channel; political ad spending is expected to be a tailwind in 2026, which could boost cash flow. Earnings highlights
• Positive Sentiment: Sinclair announced a quarterly cash dividend of $0.25 per share (implied ~6.1% yield), raising the stock’s income appeal for yield-focused investors. (Ex-dividend/record dates disclosed in company release.)
• Positive Sentiment: Independent coverage upgrades (e.g., Seeking Alpha upgrade to Buy) call out the dividend yield, recent pullback, and potential political ad windfalls as reasons for upside. Seeking Alpha upgrade
• Neutral Sentiment: Company issued FY2026 revenue guidance in a $3.4B–$3.5B range (close to consensus), though EPS guidance details were not clearly published in the brief. Investors will want full guidance detail for clarity. Earnings presentation
• Neutral Sentiment: Detailed earnings call transcript and presentation are available for investors who want management commentary and color on ad trends and capital allocation. Earnings transcript
• Negative Sentiment: Revenue was down ~16.7% YoY for the quarter and the company still shows negative net margin and negative ROE, highlighting ongoing secular pressure in parts of the business. MarketBeat earnings summary
• Negative Sentiment: Net leverage remains elevated (reported ~5.3x in analyst commentary), which increases sensitivity to advertising cycles despite no near-term material maturities; deleveraging is a stated priority but remains a risk. Leverage discussion

Insiders Place Their Bets

In other Sinclair news, Director Howard E. Friedman sold 14,713 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total value of $222,313.43. Following the completion of the sale, the director owned 77,685 shares in the company, valued at $1,173,820.35. This represents a 15.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benson E. Legg sold 6,548 shares of Sinclair 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 sale, the director directly owned 71,165 shares of the company’s stock, valued at approximately $1,125,118.65. The trade was a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 50,637 shares of company stock worth $815,535. 41.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sinclair

Several hedge funds have recently made changes to their positions in SBGI. Geneos Wealth Management Inc. raised its position in Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Sinclair by 175.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after acquiring an additional 1,882 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Sinclair in the 3rd quarter valued at $48,000. Raymond James Financial Inc. acquired a new position in shares of Sinclair during the 2nd quarter worth about $54,000. Finally, Headlands Technologies LLC increased its position in shares of Sinclair by 79.3% in the second quarter. Headlands Technologies LLC now owns 6,773 shares of the company’s stock valued at $94,000 after acquiring an additional 2,996 shares during the last quarter. Institutional investors 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.