secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sinclair, Inc. (SBGI)
CIK:        0001971213
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0001971213-26-000009
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sinclair Q4 revenue $836M, core ad up 14%; FY2026 EBITDA guidance $700-740M
---------------------------------------------------------------------------

- Q4 total revenue $836M (down 17% YoY); core ad revenue $354M (+14% YoY); distribution revenue $438M (-1% YoY).
- Q4 Adjusted EBITDA $168M vs $330M prior year; full-year 2025 EBITDA $483M; net loss attributable to Company $112M.
- FY2026 guidance: consolidated revenue $3.4-3.54B; Adj EBITDA $700-740M; political ad revenue at least $333M (mid-term cycle).
- Cash and liquidity: $866M cash + $612.5M revolver availability; total debt $4.38B; quarterly dividend of $0.25/share paid in Dec.
- Closed 15 partner station acquisitions; received $86M distributions from investment portfolio in Q4 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1971213/000197121326000009/0001971213-26-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912752/000197121326000009/sbgi-20260225.htm
  HTML page:      https://secwatch.observer/filing/0001971213-26-000009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer