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Market Overview

Sinclair Broadcast Group: Q4 Earnings Insights

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Shares of Sinclair Broadcast Group (NASDAQ:SBGI) were unchanged after the company reported Q4 results.

Quarterly Results

Earnings per share rose 586.17% year over year to $6.45, which beat the estimate of $5.01.

Revenue of $1,512,000,000 decreased by 6.78% from the same period last year, which beat the estimate of $1,510,000,000.

Guidance

Sinclair Broadcast sees Q1 sales of $1.462 billion-$1.485 billion and adjusted EBITDA of $59 million-$80 million.

Details Of The Call

Date: Feb 24, 2021

Time: 09:00 AM

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

Recent Stock Performance

Company's 52-week high was at $37.04

Company's 52-week low was at $10.57

Price action over last quarter: Up 92.47%

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.

 

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Posted-In: BZI-RecapsEarnings News

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