Media broadcasting company Sinclair (NASDAQ: SBGI) will be reporting results this Wednesday after market close. Here’s what to expect.
Sinclair missed analysts’ revenue expectations by 2.2% last quarter, reporting revenues of $784 million, down 5.4% year on year. It was a slower quarter for the company, with revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ revenue estimates.
Is Sinclair a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Sinclair’s revenue to decline 16.2% year on year to $768.2 million, a reversal from the 19.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.25 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sinclair has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Sinclair’s peers in the media & entertainment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. IMAX delivered year-on-year revenue growth of 16.6%, beating analysts’ expectations by 0.6%, and Omnicom Group reported revenues up 4%, in line with consensus estimates. IMAX traded down 1.1% following the results while Omnicom Group was up 3.2%.
Read our full analysis of IMAX’s results here and Omnicom Group’s results here.
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