Sinclair Broadcast Group (SBGI) Tops Q2 EPS by 6c

Sinclair Broadcast Group (NASDAQ: SBGI) reported Q2 EPS of ($4.41), $0.06 better than the analyst estimate of ($4.47). Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.59 billion.

• On a diluted share basis, the impact of Adjustments in the three months ending June 30, 2021 was $(0.39) and the impact of Adjustments in the three months ending June 30, 2020 was $(0.09).

Outlook:

The Company currently expects to achieve the following results for the three months ending September 30, 2021 and the twelve months ending December 31, 2021.

The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business, including how it has and will continue to impact its advertisers, distributors, and professional sports leagues. The Company is currently unable to predict the extent of the impact that the COVID-19 pandemic will have on its financial condition, results of operations and cash flows in future periods due to numerous uncertainties. For additional discussion of how the COVID-19 pandemic has impacted the Company’s business, please see the section titled The Impact of COVID-19 on our Results of Operations in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which will be updated in the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021.

For earnings history and earnings-related data on Sinclair Broadcast Group (SBGI) click here.

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