Benzinga | Aug 4, 2021 07:47AM EDT

Sinclair Broadcast Group: Q2 Earnings Insights



Shares of Sinclair Broadcast Group (NASDAQ:SBGI) were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share fell 225.23% year over year to ($4.02), which beat the estimate of ($4.47).

Revenue of $1,612,000,000 up by 25.64% year over year, which beat the estimate of $1,590,000,000.

Outlook

Sinclair Broadcast Group hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Aug 04, 2021

Time: 09:30 AM

ET Webcast URL: https://sbgi.net/investor-relations/#EarningsWebcast

Technicals

52-week high: $39.60

Company's 52-week low was at $16.72

Price action over last quarter: down 14.23%

Company Overview

Sinclair Broadcast Group is the second- largest television station operator in the U.S., with 191 stations in 89 markets. Of the firm's 607 channels, 154 are affiliated with the four national broadcasters--Fox (59), ABC (41), CBS (30), and NBC (24)--with another 86 channels on networks aligned with CBS (47 CW channels) and Fox (39 MyNetworkTV channels). Via the 2019 purchase of Fox Sports Networks from Disney, Sinclair is now the largest owner or operator of regional sports networks with 14 Fox-branded RSNs covering 42 NBA, MLB, and NHL teams along with the new home of the Chicago Cubs, Marquee Sports Network. The firm also owns the Tennis Channel, four multicast networks, and professional wresting promotion Ring of Honor.