Earnings To Watch: Sinclair (SBGI) Reports Q1 Results Tomorrow

Radek Strnad /
2024/05/07 3:11 am EDT

Television broadcasting and media company Sinclair (NASDAQ:SBGI) will be announcing earnings results tomorrow after market close. Here's what to look for.

Sinclair missed analysts' revenue expectations by 1.7% last quarter, reporting revenues of $826 million, down 14% year on year. It was a weak quarter for the company, with a earnings estimates.

Is Sinclair a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Sinclair's revenue to grow 3.8% year on year to $802.4 million, a reversal from the 40% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.26 per share.

Sinclair Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sinclair has missed Wall Street's revenue estimates six times over the last two years.

Looking at Sinclair's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Paramount delivered year-on-year revenue growth of 5.8%, meeting analysts' expectations, and Royal Caribbean reported revenues up 29.2%, topping estimates by 1.1%. Paramount traded down 7.2% following the results while Royal Caribbean was up 2.8%.

Read our full analysis of Paramount's results here and Royal Caribbean's results here.

Investors in the consumer discretionary segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. Sinclair is up 8.6% during the same time and is heading into earnings with an average analyst price target of $16.1 (compared to the current share price of $13.54).

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