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Sinclair (SBGI) Q2 Earnings Report Preview: What To Look For


Jabin Bastian /
2024/08/06 3:12 am EDT

Television broadcasting and media company Sinclair (NASDAQ:SBGI) will be announcing earnings results tomorrow afternoon. Here's what to expect.

Sinclair met analysts' revenue expectations last quarter, reporting revenues of $798 million, up 3.2% year on year. It was a solid quarter for the company, with an impressive beat of analysts' earnings estimates and revenue guidance for next quarter topping analysts' expectations.

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 9.1% year on year to $838.3 million, a reversal from the 8.2% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.09 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 Q2 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 33.5%, beating analysts' expectations by 9.4%, and Life Time reported revenues up 18.9%, topping estimates by 5.2%. Rush Street Interactive traded up 7.9% following the results while Life Time was also up 7.5%.

Read our full analysis of Rush Street Interactive's results here and Life Time's results here.

Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Sinclair is down 4.7% during the same time and is heading into earnings with an average analyst price target of $16 (compared to the current share price of $12.69).

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