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Dec 31, 2024
Sinclair Q4 2024 Earnings Report
Sinclair reported its financial results for the fourth quarter ended December 31, 2024, showing significant increases in total revenues, operating income, and net income compared to the prior year period.
Key Takeaways
Sinclair, Inc. reported a strong close to 2024, with fourth quarter total revenues increasing by 22% to $1,004 million and net income attributable to the Company reaching $176 million, a substantial improvement from a net loss in the prior year. Adjusted EBITDA also saw an impressive 83% increase, reaching $330 million.
Total revenues increased 22% to $1,004 million compared to $826 million in the prior year period.
Net income attributable to the Company was $176 million, a significant turnaround from a net loss of $341 million in the prior year period.
Adjusted EBITDA increased 83% to $330 million from $180 million in the prior year period, exceeding guidance.
Record full-year 2024 political advertising revenues of $405 million, a 16% increase over 2020 levels.
Revenue by Segment
Forward Guidance
For the three months ending March 31, 2025, Sinclair expects consolidated revenues to be between $765 million and $779 million, with operating income ranging from $2 million to $14 million, and Adjusted EBITDA between $90 million and $102 million.
Positive Outlook
- Expected consolidated revenues of $765 million to $779 million for Q1 2025.
- Anticipated Adjusted EBITDA of $90 million to $102 million for Q1 2025.
- Core advertising revenue projected between $283 million and $294 million for Q1 2025.
- Distribution revenue expected to be $453 million to $455 million for Q1 2025.
- Capital expenditures projected to be $20 million to $22 million for Q1 2025.
Challenges Ahead
- Operating income is projected to be relatively low, between $2 million and $14 million for Q1 2025.
- Interest expense (net) is expected to be $143 million for Q1 2025, including $75 million non-recurring fees.
- Political advertising revenue is projected to be minimal, between $2 million and $3 million for Q1 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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