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Mar 31, 2025
Sinclair Q1 2025 Earnings Report
Reported Financial Results for the Three Months Ended March 31, 2025
Key Takeaways
Sinclair reported a decrease in total revenues and net income for the first quarter of 2025 compared to the prior year period. The company experienced a net loss of $156 million and saw decreases in media revenues and operating income. Adjusted EBITDA also declined.
Total revenues decreased 3% to $776 million compared to $798 million in the prior year period.
Net loss attributable to the Company was $156 million versus net income of $23 million in the prior year period.
Operating income declined to $14 million from $42 million in the prior year period.
Adjusted EBITDA decreased 19% to $112 million from $139 million in the prior year period.
Revenue by Segment
Forward Guidance
Sinclair provided outlook for the second quarter and full year 2025, including anticipated ranges for revenues and expenses.
Positive Outlook
- Expected core advertising revenue of $313 to $330 million for Q2 2025.
- Expected distribution revenue of $439 to $441 million for Q2 2025.
- Expected total revenues of $787 to $807 million for Q2 2025.
- Expected cash distributions from equity investments of $17 million for Q2 2025.
- Expected cash distributions from equity investments of $29 million for full year 2025.
Challenges Ahead
- Expected media programming & production expenses and media selling, general and administrative expenses of $644 to $650 million for Q2 2025.
- Expected non-media expenses of $13 million for Q2 2025.
- Expected amortization of program costs of $17 million for Q2 2025.
- Expected interest expense (net) of $74 million for Q2 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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