Recap: Sinclair Broadcast Group Q1 Earnings

Shares of Sinclair Broadcast Group SBGI were flat in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 512.00% over the past year to $1.53, which may not compare to the estimate of $0.02.

Revenue of $1,609,000,000 higher by 122.82% from the same period last year, which missed the estimate of $1,650,000,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Q2 revenue expected to be between $1,398,000,000 and $1,440,000,000.

How To Listen To The Conference Call

Date: May 06, 2020

Time: 04:03 PM ET

Webcast URL: http://sbgi.net/investor-relations/#EarningsWebcast

Recent Stock Performance

52-week high: $66.57

Company's 52-week low was at $10.57

Price action over last quarter: down 33.40%

Company Overview

Sinclair Broadcast Group is the second- largest television station operator in the U.S., with 191 stations in 89 markets. Of the firm's 607 channels, 154 are affiliated with the four national broadcasters--Fox (59), ABC (41), CBS (30), and NBC (24)--with another 86 channels on networks aligned with CBS (47 CW channels) and Fox (39 MyNetworkTV channels). Via the 2019 purchase of Fox Sports Networks from Disney, Sinclair is now the largest owner or operator of regional sports networks with 14 Fox-branded RSNs covering 42 NBA, MLB, and NHL teams along with the new home of the Chicago Cubs, Marquee Sports Network. The firm also owns the Tennis Channel, four multicast networks, and professional wresting promotion Ring of Honor.