Sinclair (NASDAQ:SBGI) Announces Earnings Results, Beats Expectations By $0.96 EPS

Sinclair (NASDAQ:SBGI) released its quarterly earnings results on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.96, Zacks reports. The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $792.63 million. Sinclair had a negative return on equity of 64.27% and a negative net margin of 3.53%.The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.30) EPS.

Here are the key takeaways from Sinclair’s conference call:

• Q1 results — Sinclair reported revenue of $807 million (up 4%) and adjusted EBITDA of $126 million (up 13%) and is reaffirming its full‑year 2026 guidance.
• Core operations gaining momentum — core advertising grew 4% and distribution rose 2%, helped by the Digital Remedy acquisition, improving MVPD subscriber trends, and partner station buy‑ins, with management expecting the full $30 million of annualized buy‑in synergies in 2026.
• Balance‑sheet progress — the company retired about $165 million of term loans in April (saving ~$12 million in annual cash interest), ended the quarter with ~$1.5 billion liquidity and reported STG net leverage of 5.1x (improved 0.2x sequentially).
• Tennis Channel momentum vs. short‑term costs — Tennis Channel delivered record March viewership and a ~19% year‑over‑year increase in household reach with rising D2C subs, but adjusted EBITDA fell as Sinclair is investing in rights, D2C and FAST expansion.
• Regulatory and M&A uncertainty — state‑level litigation around Nexstar‑Tegna and an FCC inquiry into sports streaming have introduced near‑term timing risk for industry consolidation; Sinclair still favors a broadcast combination concurrent with a Ventures separation but says timing may be delayed.

Sinclair Stock Performance

Shares of SBGI traded down $0.29 during mid-day trading on Friday, hitting $15.26. The company’s stock had a trading volume of 439,942 shares, compared to its average volume of 437,615. The stock’s 50-day moving average is $14.58 and its two-hundred day moving average is $14.80. The firm has a market capitalization of $1.09 billion, a PE ratio of -9.11 and a beta of 1.03. The company has a debt-to-equity ratio of 11.78, a quick ratio of 2.42 and a current ratio of 2.42. Sinclair has a one year low of $11.89 and a one year high of $17.88.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Tuesday, May 26th. Sinclair’s dividend payout ratio is currently -59.52%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SBGI shares. Benchmark increased their price target on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company decreased their price objective on shares of Sinclair from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Sinclair from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen raised shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of Sinclair in a report on Wednesday, April 15th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.40.

Sinclair News Summary

Here are the key news stories impacting Sinclair this week:

• Positive Sentiment: Q1 beat — Sinclair reported EPS of $0.28 versus consensus of (‑$0.68) and revenue of $807M vs. ~$792.6M expected; revenue was up ~4% year-over-year. The beat and improving profitability are supportive for the equity. Zacks: Sinclair Beats Q1
• Positive Sentiment: Dividend declared — Board approved a $0.25 quarterly cash dividend (ex‑dividend May 26; payable June 9), implying a ~6.8% yield based on recent levels. The high yield increases income appeal and can support the share price. GlobeNewswire: Dividend
• Neutral Sentiment: Earnings materials and call — Full Q1 release, slide deck and earnings-call transcript are available for details on segment performance and ad trends; useful for modeling but not an immediate directional surprise. Earnings Release/Slides Earnings Call Transcript
• Negative Sentiment: FY2026 guidance mixed — Sinclair updated FY revenue guidance to roughly $3.4B–$3.5B (near but slightly below consensus) and provided EPS guidance that investors flagged as underwhelming; weaker forward guidance can limit upside after the Q1 beat. Slides: Guidance
• Negative Sentiment: Analyst price-target cut — Wells Fargo lowered its target from $17 to $16 and kept an “equal weight” rating, signaling limited near‑term upside from the analyst community and likely weighing on sentiment. Benzinga: Wells Fargo PT Cut

Insiders Place Their Bets

In other Sinclair news, COO Robert Weisbord sold 10,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $15.70, for a total value of $157,000.00. Following the sale, the chief operating officer directly owned 284,525 shares in the company, valued at $4,467,042.50. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel C. Keith sold 22,613 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total transaction of $296,230.30. Following the transaction, the director owned 25,027 shares in the company, valued at approximately $327,853.70. The trade was a 47.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,672 shares of company stock worth $758,498 in the last ninety days. 41.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sinclair

A number of institutional investors have recently added to or reduced their stakes in SBGI. Geneos Wealth Management Inc. increased its stake in Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after acquiring an additional 1,065 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Sinclair by 175.6% in 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 during the period. Aquatic Capital Management LLC acquired a new stake in shares of Sinclair during the 3rd quarter worth approximately $48,000. Raymond James Financial Inc. bought a new stake in shares of Sinclair during the second quarter valued at approximately $54,000. Finally, Headlands Technologies LLC increased its position in shares of Sinclair by 79.3% during the second quarter. Headlands Technologies LLC now owns 6,773 shares of the company’s stock valued at $94,000 after purchasing an additional 2,996 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

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.