Sinclair (NASDAQ:SBGI) Releases Earnings Results, Beats Estimates By $1.58 EPS

Sinclair (NASDAQ:SBGI) issued its quarterly earnings data on Wednesday. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $1.58, reports. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%.

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 Trading Down 1.4%

Shares of Sinclair stock traded down $0.20 on Wednesday, reaching $13.86. 570,351 shares of the company’s stock were exchanged, compared to its average volume of 344,896. The company has a market capitalization of $965.76 million, a P/E ratio of -22.35 and a beta of 0.96. Sinclair has a 52 week low of $11.89 and a 52 week high of $17.88. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.01 and a current ratio of 2.01. The firm’s 50-day moving average is $14.92 and its two-hundred day moving average is $14.67.

Analyst Upgrades and Downgrades

SBGI has been the topic of a number of analyst reports. Zacks Research upgraded Sinclair from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sinclair in a report on Monday, December 29th. Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Guggenheim boosted their price target on shares of Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.00.

Insider Activity at Sinclair

In related news, Director Howard E. Friedman sold 14,713 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total transaction of $222,313.43. Following the transaction, the director owned 77,685 shares in the company, valued at $1,173,820.35. The trade was a 15.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David B. Gibber sold 29,376 shares of Sinclair stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $16.67, for a total transaction of $489,697.92. Following the completion of the sale, the executive vice president directly owned 165,272 shares of the company’s stock, valued at approximately $2,755,084.24. This trade represents a 15.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,637 shares of company stock worth $815,535 in the last quarter. Company insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sinclair by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock valued at $304,000 after acquiring an additional 780 shares during the period. Royal Bank of Canada lifted its holdings in shares of Sinclair by 5.4% in the 4th quarter. Royal Bank of Canada now owns 17,001 shares of the company’s stock worth $261,000 after purchasing an additional 869 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after purchasing an additional 1,065 shares during the period. Russell Investments Group Ltd. increased its stake in Sinclair by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 57,724 shares of the company’s stock valued at $883,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Sinclair by 2.0% during the fourth quarter. Swiss National Bank now owns 72,450 shares of the company’s stock worth $1,108,000 after buying an additional 1,400 shares during the last quarter. 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.