Sinclair (NASDAQ:SBGI) Releases Earnings Results, Beats Expectations By $1.58 EPS

Sinclair (NASDAQ:SBGI) posted its quarterly earnings data on Wednesday. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $1.58, reports. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%.

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 Performance

Shares of NASDAQ:SBGI traded down $0.20 during trading on Wednesday, hitting $13.86. 570,351 shares of the stock were exchanged, compared to its average volume of 344,896. The company has a market capitalization of $965.76 million, a price-to-earnings ratio of -22.35 and a beta of 0.96. 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 1-year low of $11.89 and a 1-year high of $17.88. The company’s fifty day simple moving average is $14.88 and its 200-day simple moving average is $14.67.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBGI shares. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a report on Monday, December 29th. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Guggenheim upped their price target on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and an average target price of $19.00.

Insider Buying and Selling

In other news, Director Benson E. Legg sold 6,548 shares of the firm’s stock in a transaction dated 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David B. Gibber sold 29,376 shares of Sinclair stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $16.67, for a total transaction of $489,697.92. Following the sale, the executive vice president owned 165,272 shares in the company, valued at approximately $2,755,084.24. This trade represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 50,637 shares of company stock valued at $815,535 over the last ninety days. 46.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sinclair

Several institutional investors and hedge funds have recently made changes to their positions in SBGI. Geneos Wealth Management Inc. increased its position in shares of Sinclair by 142.0% during 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 in the last quarter. Tower Research Capital LLC TRC grew its stake in Sinclair by 175.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after buying an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Sinclair during the third quarter worth approximately $48,000. Raymond James Financial Inc. bought a new position in shares of Sinclair in the second quarter valued at approximately $54,000. Finally, Headlands Technologies LLC raised its stake 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 and hedge funds own 41.71% of the company’s stock.

About Sinclair

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.