Media broadcasting company Sinclair (NASDAQ:SBGI) will be reporting earnings this Wednesday after market close. Here’s what investors should know.
Sinclair met analysts’ revenue expectations last quarter, reporting revenues of $840 million, up 7.1% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and full-year revenue guidance slightly missing analysts’ expectations.
Is Sinclair a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Sinclair’s revenue to grow 13.4% year on year, a reversal from the 15.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Sinclair has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Sinclair’s peers in the media & entertainment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Ibotta delivered year-on-year revenue growth of 17.5%, beating analysts’ expectations by 10.3%, and MediaAlpha reported revenues up 22.7%, topping estimates by 7.2%. MediaAlpha traded up 20.6% following the results.
Read our full analysis of Ibotta’s results here and MediaAlpha’s results here.
Investors in the media & entertainment segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. Sinclair is up 2.7% during the same time and is heading into earnings with an average analyst price target of $17.57 (compared to the current share price of $12.98).
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