Sinclair (NASDAQ:SBGI) Issues Earnings Results

Sinclair (NASDAQ:SBGI) issued its earnings results on Wednesday. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07, Zacks reports. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%. The firm had revenue of $836.00 million during the quarter, compared to analyst estimates of $840.25 million. During the same quarter last year, the business earned $2.61 earnings per share. The company’s quarterly revenue was down 16.7% on a year-over-year basis.

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 Price Performance

NASDAQ:SBGI traded up $3.08 during midday trading on Thursday, hitting $16.94. The company had a trading volume of 525,670 shares, compared to its average volume of 348,860. The company has a market capitalization of $1.18 billion, a PE ratio of -27.35 and a beta of 0.96. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 14.77. Sinclair has a 52-week low of $11.89 and a 52-week high of $17.88. The stock’s fifty day moving average price is $14.88 and its 200-day moving average price is $14.67.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.00 annualized dividend and a yield of 5.9%. Sinclair’s payout ratio is -161.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SBGI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a report on Monday, December 29th. Guggenheim increased their target price on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Benchmark lifted their price target on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on Sinclair from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sinclair has an average rating of “Hold” and an average target price of $20.00.

Insider Buying and Selling at Sinclair

In related news, Director Howard E. Friedman sold 14,713 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $15.11, for a total transaction of $222,313.43. Following the transaction, the director directly owned 77,685 shares of the company’s stock, valued at approximately $1,173,820.35. This trade represents a 15.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David B. Gibber sold 29,376 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total value of $489,697.92. Following the completion of the sale, the executive vice president owned 165,272 shares of the company’s stock, valued at $2,755,084.24. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 50,637 shares of company stock worth $815,535 over the last 90 days. Corporate insiders own 41.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SBGI. Goldman Sachs Group Inc. lifted its holdings in shares of Sinclair by 143.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 906,872 shares of the company’s stock worth $13,875,000 after acquiring an additional 534,573 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Sinclair by 23.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,946,274 shares of the company’s stock worth $29,778,000 after purchasing an additional 373,566 shares during the period. Verition Fund Management LLC lifted its stake in Sinclair by 890.3% in the third quarter. Verition Fund Management LLC now owns 306,637 shares of the company’s stock worth $4,630,000 after purchasing an additional 275,674 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Sinclair in the second quarter worth $2,292,000. Finally, Squarepoint Ops LLC boosted its position in Sinclair by 121.3% during the third quarter. Squarepoint Ops LLC now owns 291,607 shares of the company’s stock valued at $4,403,000 after buying an additional 159,823 shares during the period. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair News Summary

Here are the key news stories impacting Sinclair this week:

• Positive Sentiment: Benchmark Co. raised its price target on SBGI from $27 to $30 and initiated/maintained a “Buy” stance, implying material upside versus the current level. Benchmark target raise
• Positive Sentiment: Q4 EPS beat materially — Sinclair reported $1.55 EPS vs. consensus roughly -$0.03 — driven by stronger-than-expected core advertising performance. That earnings surprise is a major positive catalyst. Q4 results press release
• Positive Sentiment: Management highlighted 14% core advertising growth and strong performance at Tennis Channel; political ad spending is expected to be a tailwind in 2026, which could boost cash flow. Earnings highlights
• Positive Sentiment: Sinclair announced a quarterly cash dividend of $0.25 per share (implied ~6.1% yield), raising the stock’s income appeal for yield-focused investors. (Ex-dividend/record dates disclosed in company release.)
• Positive Sentiment: Independent coverage upgrades (e.g., Seeking Alpha upgrade to Buy) call out the dividend yield, recent pullback, and potential political ad windfalls as reasons for upside. Seeking Alpha upgrade
• Neutral Sentiment: Company issued FY2026 revenue guidance in a $3.4B–$3.5B range (close to consensus), though EPS guidance details were not clearly published in the brief. Investors will want full guidance detail for clarity. Earnings presentation
• Neutral Sentiment: Detailed earnings call transcript and presentation are available for investors who want management commentary and color on ad trends and capital allocation. Earnings transcript
• Negative Sentiment: Revenue was down ~16.7% YoY for the quarter and the company still shows negative net margin and negative ROE, highlighting ongoing secular pressure in parts of the business. MarketBeat earnings summary
• Negative Sentiment: Net leverage remains elevated (reported ~5.3x in analyst commentary), which increases sensitivity to advertising cycles despite no near-term material maturities; deleveraging is a stated priority but remains a risk. Leverage discussion

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.