NASDAQ$SBGI
Sinclair Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Sinclair reported solid results, meeting guidance expectations and experiencing growth in advertising and distribution revenues.
Sinclair reported an 8% increase in total revenues, reaching $829 million, driven by growth in both advertising and distribution revenues. The company exceeded Adjusted EBITDA guidance and saw a significant increase in political advertising bookings for the second half of the year. Net income attributable to the company was $17 million, a substantial improvement compared to the prior year period.
- Total revenues increased by 8% to $829 million.
- Total advertising revenues increased 11% to $343 million.
- Distribution revenues increased to $435 million.
- Net income attributable to the Company was $17 million.
Headline financials
Revenue & EPS history
Sinclair · Revenue · Quarterly
$829M
Revenue by segment
Sinclair · $773M total across 3 segments · Q3 2023
- Local Media$697M—90.2%
- Tennis$59M—7.6%
- Other$17M—2.2%
Forward guidance
The Company currently expects to achieve the following results for the three months ending September 30, 2024 and the twelve months ending December 31, 2024.
Tailwinds
- Core advertising revenue is expected to be $288 to 300 million for Local Media, $10 million for Tennis, and $9 million for Other.
- Political advertising revenue is projected to be $113 to 128 million.
- Distribution revenue is anticipated to be $381 to 383 million for Local Media and $51 million for Tennis.
- Other media revenue is estimated at $41 million.
- Total revenues are expected to be in the range of $823 to 852 million for Local Media, $63 million for Tennis, and $19 million for Other.
Headwinds
- Media programming & production expenses and media selling, general and administrative expenses are projected to be $569 to 574 million for Local Media, $49 million for Tennis, and $6 million for Other.
- Non-media expenses are estimated at $2 million for Local Media and $12 million for Other.
- Amortization of program costs is expected to be $18 million.
- Corporate general and administrative expenses are projected to be $23 million.
- Interest expense (net) is anticipated to be $71 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.4%
Avg return
Earnings day
+1.2%
Avg return
5 days after
-0.2%
Avg return
30 days after
48%
31 / 64 earnings
Positive
+31.1%
Q3 2023
Best reaction
-16.1%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.0% | -3.1% | -9.4% | |
| Q4 2025 | +17.9% | +10.3% | -5.2% | |
| Q3 2025 | +18.0% | +21.1% | +5.1% | |
| Q1 2025 | -4.7% | +1.6% | -16.1% | |
| Q4 2024 | -4.0% | -6.2% | +8.2% | |
| Q3 2024 | +1.1% | -2.3% | +8.0% | |
| Q2 2024 | +2.4% | -4.1% | +1.0% | |
| Q1 2024 | +22.0% | +12.8% | -6.5% | |
| Q4 2023 | +3.1% | -4.4% | -6.5% | |
| Q3 2023 | +31.1% | +32.8% | +24.9% | |
| Q2 2023 | -4.9% | -1.3% | -17.2% | |
| Q1 2023 | -16.1% | -12.5% | -20.4% | |
| Q4 2022 | -5.5% | -12.0% | -22.9% | |
| Q3 2022 | -5.5% | -4.6% | -1.2% | |
| Q2 2022 | +5.6% | +5.7% | +2.6% | |
| Q1 2022 | +1.4% | -2.7% | -0.7% | |
| Q4 2021 | -2.0% | +11.6% | +4.2% | |
| Q3 2021 | -3.9% | -5.0% | -9.9% | |
| Q2 2021 | +7.3% | +6.4% | +1.3% | |
| Q1 2021 | +5.0% | +6.1% | +6.5% | |
| Q4 2020 | -14.1% | -10.0% | -19.7% | |
| Q3 2020 | -4.1% | +4.4% | +47.1% | |
| Q2 2020 | -4.4% | -1.9% | -2.6% | |
| Q1 2020 | +4.4% | +7.1% | +61.1% | |
| Q4 2019 | -14.7% | -14.3% | -36.7% | |
| Q3 2019 | -1.3% | +2.3% | -15.4% | |
| Q2 2019 | -4.0% | -7.3% | -10.5% | |
| Q1 2019 | +0.4% | -4.8% | -15.7% | |
| Q4 2018 | +10.0% | +12.0% | +17.3% | |
| Q3 2018 | +3.9% | +2.3% | +0.3% | |
| Q2 2018 | +6.9% | +7.3% | +4.6% | |
| Q1 2018 | +8.2% | +10.8% | +9.0% | |
| Q4 2017 | -7.4% | -5.5% | -13.2% | |
| Q3 2017 | -3.3% | -4.4% | +6.9% | |
| Q2 2017 | -13.3% | -14.4% | -17.5% | |
| Q1 2017 | -4.2% | -5.8% | -11.9% | |
| Q4 2016 | +7.9% | +8.3% | +7.2% | |
| Q3 2016 | +1.9% | +4.7% | +30.0% | |
| Q2 2016 | +6.7% | +6.3% | +6.9% | |
| Q1 2016 | -1.4% | — | — | |
| Q4 2015 | +0.5% | — | — | |
| Q3 2015 | +4.5% | — | — | |
| Q2 2015 | -6.1% | — | — | |
| Q1 2015 | -2.7% | — | — | |
| Q4 2014 | +5.9% | — | — | |
| Q3 2014 | +1.8% | — | — | |
| Q2 2014 | +0.4% | — | — | |
| Q1 2014 | -2.3% | — | — | |
| Q4 2013 | +1.7% | — | — | |
| Q3 2013 | -0.2% | — | — | |
| Q2 2013 | -4.3% | — | — | |
| Q1 2013 | -0.3% | — | — | |
| Q4 2012 | -1.9% | — | — | |
| Q3 2012 | +1.1% | — | — | |
| Q2 2012 | -4.7% | — | — | |
| Q1 2012 | -2.0% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q3 2011 | -0.4% | — | — | |
| Q2 2011 | -13.9% | — | — | |
| Q1 2011 | -3.0% | — | — | |
| Q4 2010 | -2.9% | — | — | |
| Q3 2010 | +0.2% | — | — | |
| Q2 2010 | +13.4% | — | — | |
| Q1 2010 | -7.7% | — | — |
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