earnings
confidence high
sentiment positive
materiality 0.75
Sinclair beats Q2 EBITDA guidance; raises 2024 political ad forecast to $385-410M
Sinclair, Inc.
2024-Q2 EPS reported
$0.61
revenue$1,627,000,000
- Q2 total revenues of $829M (+8% YoY); Adjusted EBITDA of $158M (+42% YoY and above guidance).
- Political advertising bookings as of Aug 1 total $146M for H2, vs $78M at same point in 2020.
- Full-year political advertising guidance raised to $385-410M (10-17% growth vs 2020 excl. Georgia runoff).
- Distribution revenue of $435M (+4% YoY); core advertising flat at $303M.
- Q2 diluted EPS $0.27 vs ($0.38) loss a year ago; net income $17M vs net loss $89M.