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Jun 30, 2023
Sinclair Q2 2023 Earnings Report
Reported financial results, meeting or exceeding key financial metrics and completing holding company reorganization.
Key Takeaways
Sinclair reported a decrease in total revenues by 8% to $768 million, with a net loss attributable to the company of $89 million. The company met or exceeded guidance on all key financial metrics and finalized a reorganization to increase transactional flexibility.
Total revenues decreased 8% to $768 million.
Total advertising revenues decreased 16% to $309 million.
Operating loss was $3 million, including Adjustments of $24 million.
Net loss attributable to the Company was $89 million.
Revenue by Segment
Forward Guidance
The Company currently expects to achieve the results for the three months ending September 30, 2023 and the twelve months ending December 31, 2023.
Positive Outlook
- Advertising revenue for Q3 2023 is expected to be $291 million to $307 million.
- Distribution revenue for Q3 2023 is expected to be $408 million to $412 million.
- Other media revenue for Q3 2023 is expected to be $34 million.
- Total revenues for Q3 2023 are expected to be $742 million to $763 million.
- Adjusted EBITDA for Q3 2023 is expected to be $91 million to $109 million.
Challenges Ahead
- Media programming & production expenses and media selling, general and administrative expenses for Q3 2023 are expected to be $593 million to $595 million.
- Non-media expenses for Q3 2023 are expected to be $17 million to $18 million.
- Program contract payments for Q3 2023 are expected to be $22 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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