Sinclair Broadcast Group: Q2 Earnings Insights

Shares of Sinclair Broadcast Group SBGI remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share increased 358.57% year over year to $3.21, which missed the estimate of $4.77.

Revenue of $1,283,000,000 up by 66.47% from the same period last year, which missed the estimate of $1,410,000,000.

Guidance

Q3 revenue expected between $1,477,000,000 and $1,514,000,000.

Conference Call Details

Date: Aug 05, 2020

Time: 09:00 AM

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

Technicals

Company's 52-week high was at $51.43

52-week low: $10.57

Price action over last quarter: Up 33.69%

Company Description

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.