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Sinclair (SBGI) Q3 Earnings and Revenues Surpass Estimates
SBGISinclair Broadcast Group(SBGI) ZACKS·2024-11-06 23:45

Core Viewpoint - Sinclair (SBGI) reported quarterly earnings of 1.28pershare,significantlyexceedingtheZacksConsensusEstimateof1.28 per share, significantly exceeding the Zacks Consensus Estimate of 0.89 per share, and showing a turnaround from a loss of 0.30pershareayearago,indicatingstrongperformanceinthecurrentquarter[1][2]FinancialPerformance−Thecompanyachievedrevenuesof0.30 per share a year ago, indicating strong performance in the current quarter [1][2] Financial Performance - The company achieved revenues of 917 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.98% and reflecting a year-over-year increase from 767million[2]−Overthelastfourquarters,SinclairhasconsistentlysurpassedconsensusEPSestimates,achievingthisfourtimes[2]StockPerformance−Sinclairshareshaveincreasedapproximately28.5767 million [2] - Over the last four quarters, Sinclair has consistently surpassed consensus EPS estimates, achieving this four times [2] Stock Performance - Sinclair shares have increased approximately 28.5% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 1.92 on revenues of 1.02billion,andforthecurrentfiscalyear,itis1.02 billion, and for the current fiscal year, it is 4.57 on revenues of $3.58 billion [7] - The trend of estimate revisions for Sinclair is mixed, which may change following the recent earnings report [6] Industry Context - The Media Conglomerates industry, to which Sinclair belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]