Sinclair Broadcast Group (SBGI) Tops Q1 EPS by $1.82c, Revenues Beat; Offers FY21 Revenues Guidance Above Consensus
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Sinclair Reports First Quarter 2021 Financial Results
May 5, 2021 7:30 AM EDTBALTIMORE--(BUSINESS WIRE)-- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the "Company" or "Sinclair," today reported financial results for the three months ended March 31, 2021.
First Quarter Highlights
Consolidated total revenue decreased 6% to $1,511 million as compared to the first quarter of 2020. Consolidated operating income of $35 million, including $32 million of non-recurring costs for transaction and transition services, COVID, legal, and regulatory costs ("Adjustments") decreased compared to operating income in the first quarter of 2020 of $327 million, which included $20 million of Adjustments. Excluding the Adjustments, operating income... More